VN-Index edges up in third consecutive gaining session

The index fluctuated in and out of the red for most of the morning session, going as low as 1,356.59 points before gradually rising and remaining in the green throughout the afternoon session, eventually closing with a gain of 5.6 points.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, saw 183 stocks gain and 198 lose, with trading value falling 3.6 percent over the previous session to VND24.42 trillion ($1.06 billion).

The VN30 basket, comprising the index’s 30 largest capped stocks, saw 12 tickers gain, with the top gainer being VRE of mall operator Vincom Retail. The ticker gained 2.8 percent this session, its third consecutive gaining session.

It was followed by REE of industrial appliance maker Refrigeration Electrical Engineering Corporation and VHM of real estate giant Vinhomes, both up 2.5 percent and gaining for the third successive session.

REE has gained over 16 percent so far this year, while VHM reached its historic peak this session. It was also the top contributor to the index’s growth, pushing it up by nearly 2.5 points.

Other blue-chip gainers included BVH of insurance company Bao Viet Holdings, up 2 percent, HDB of private lender HDBank, up 1.9 percent, and VIC of Vietnam’s largest private conglomerate Vingroup, which rose 1.4 percent.

On the losing side, VPB of private lender VPBank was the blue-chip with the steepest plunge this session, sliding 6.2 percent.

SBT of sugar producer Thanh Thanh Cong – Bien Hoa JSC dropped 3.8 percent, while STB of Ho Chi Minh City-based lender Sacombank fell 2.3 percent.

Foreign investors turned net buyers this session to the tune of VND95.78 billion, with strongest buying pressure on VIC, PLX of fuel distributor Petrolimex, and VRE.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, was down 0.23 percent, while the UPCoM-Index for the Unlisted Public Companies Market grew marginally 0.05 percent.