VN-Index posts modest growth on cautious sentiment

By Dat Nguyen   September 30, 2021 | 05:16 pm GMT+7
VN-Index posts modest growth on cautious sentiment
An investor looks at stock prices on the screens at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Vietnam’s benchmark VN-Index rose 0.21 percent Thursday to 1,342.06 points with a nine-week low trading value as investors tread carefully after last week’s plunge.

The index was in the green throughout the day and closed nearly three points higher, a marginal amount after slipping by 0.01 points Wednesday.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, plunged to a nine-week low of VND15.18 trillion ($663.86 million), showing investors are reluctant to pick up stocks amid uncertainty in how the Covid-19 situation would develop as HCMC resumes most activities Friday.

The number of Covid-19 cases recorded Wednesday doubled from Tuesday to 8,758.

The VN30 basket, comprising the 30 largest capped stocks, saw 13 tickers in the green, led by PNJ of Phu Nhuan Jewelry with a 5.8 percent surge.

This is its third gaining session in a row, bringing it to the highest in over 11 weeks.

VRE of retail real estate arm Vincom Retail rose 2.8 percent to a 10-day high.

VIC of biggest private conglomerate Vingroup rose 1.5 percent, its third session in the green. It is now at a two-week high.

Other gainers included SSI of leading brokerage SSI Securities Corporation, up 1.4 percent, and MSN of conglomerate Masan Group, up 1.1 percent.

Eleven blue chip stocks fell, led by VCB of state-owned lender Vietcombank, down 1.3 percent, and BID of state-owned lender BIDV, 1.1 percent.

Foreign investors were once again net sellers to the tune of VND180 billion with strongest pressure on HPG of steelmaker Hoa Phat Group and VCB.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.86 percent while the UPCoM-Index for the Unlisted Public Companies Market gained 0.65 percent.

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