VN-Index edges up in second straight gaining session

167 stocks gained and 191 stocks lost on the Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based. Total transaction volume fell marginally over the previous session, reaching VND4.1 trillion ($173.49 million), with order-matched transactions accounting for 82 percent.

The index fell as low as 754 points before picking up sharply at the end of the afternoon session as buy orders piled in.

The biggest contributors to the VN-Index Tuesday were MSN of food conglomerate Masan Group and VPB of private bank VPBank, adding 1.62 points to the index, while VCB of Vietombank and BID of BIDV, the two biggest market caps in the banking sector, took away 1.37 points.

The VN30-Index for HoSE’s 30 biggest market caps rose 1.05 percent, with 13 gainers and 17 losers, helped by the fact that over half of the losing blue chips shed less than 1 percent.

Leading gains for the second consecutive session was VPB of VPBank, up 6.8 percent, its ceiling price. It was followed by FPT of IT services giant FPT, up 6.5 percent, and MSN of Masan Group, with 5 percent.

VRE of mall operator Vincom Retail and VHM of real estate developer Vinhomes added 2.9 percent and 1 percent respectively, while VIC of their parent conglomerate Vingroup, HoSE’s largest cap, shed 0.4 percent.

Other major gainers included SAB of major brewer Sabeco, up 1.7 percent, STB of private Sacombank, up 1.3 percent and SBT of agricultural firm TTC-Sugar, up 1.1 percent.

Oil and gas stocks were a mixed bag again with POW of electricity generator PetroVietnam Power rising 2.8 percent, while PLX of petroleum distributor Petrolimex and GAS of energy giant PetroVietnam Gas lost 1.9 percent and 1.5 percent respectively.  

ROS of real estate developer FLC Faros topped losses this session with 5.9 percent. It has been one of the most volatile stocks on the market in recent months, swinging from floor to ceiling most sessions, but it has not had much impact compared to the other blue chips as the smallest cap on the VN30 index.

It was followed by VJC of budget carrier Vietjet Air, down 2.5 percent, ending a three-session gaining streak. Outside the VN30, HVN of national carrier Vietnam Airlines also ended three sessions of straight gains, dropping 0.42 percent.

According to analysts, gains in both stocks had been driven by  plans announced to resume flights on April 16, the end of Vietnam’s nationwide social distancing order, and selling pressure came from investors trying to cash in on short-term gains this session.

Other major losers included all three of Vietnam’s biggest state-owned lenders by assets. CTG of VietinBank shed 2 percent, BID of BIDV dropped 1.7 percent, and VCB of Vietcombank tumbled 1.3 percent.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, edged down 0.01 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market fell 0.16 percent.

Foreign investors continued to be net sellers on all three bourses this session to the tune of VND190 billion ($8.14 million), with selling pressure highest on VIC of Vingroup and HDB of private HDBank.