VN-Index posts strongest gain in five sessions

By Dat Nguyen   July 29, 2021 | 01:33 am PT
VN-Index posts strongest gain in five sessions
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Vietnam’s benchmark VN-Index surged 1.29 percent to 1,293.60 points Thursday, the highest gain in the past five sessions.

The index stayed in the green throughout the day and closed with a near 17-point increase. This is its fourth consecutive gaining sessions, up by a total of nearly 25 points.

VN-Index has stayed in the 1,200 range during the last 14 sessions, struggling to climb back to 1,300 points after the market plunged earlier this month.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose nearly 25 percent to VND16.28 trillion ($712.3 million) Thursday. The bourse saw 227 tickers gain and 125 lose.

The VN30 basket, comprising the 30 largest capped stocks, saw 23 tickers in the green led by MWG of electronics retail chain Mobile World with a 3.6 percent gain.

This ended a chain of four consecutive losing sessions. MWG has lost nearly 8 percent from its peak on July 12.

PNJ of Phu Nhuan Jewelry gained 3.2 percent after losing four sessions in a row.

SSI of leading brokerage SSI Securities Corporation rose 3.1 percent, its fourth straight gaining session.

Other notable gainers included CTG of state-owned lender VietinBank, up 3 percent and MBB of MBBank, up 2.9 percent.

On the losing side TCH of real estate company Hoang Huy Investment Financial Services fell 1.3 percent.

NVL of real estate developer Novaland Group, VIC of biggest private conglomerate Vingroup and VNM of dairy giant Vinamilk all dropped 0.1 percent.

Foreign investors were net sellers to the tune of VND71 billion, with strongest pressure on HPG of steelmaker Hoa Phat Group and VRE of retail real estate arm Vincom Retail.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 1.54 percent, while the UPCoM-Index for the Unlisted Public Companies Market added 1.39 percent.

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