Securities stocks were in the limelight on Thursday as the market ended in positive territory but investors dumped a number of large caps to take profits.
The VN-Index at the Hồ Chí Minh Stock Exchange (HoSE) gained 0.31 per cent to close at 883.90 points.
More than 431.1 million shares were traded for VNĐ6.7 trillion (US$288 million).
Securities stocks rose by 4.6 per cent, with notable gainers being Saigon Securities Inc (
SSI
), Hồ Chí Minh Securities Corp (
HCM), VNDirect Securities Co (
VND), Vietinbank Securities Co (
CTS), and Sài Gòn-Hà Nội Securities Co (
SHS).
The banking sector maintained its uptrend with the Bank for Investment and Development of Việt Nam (
BID), Vietinbank (
CTG) and Vietcombank (
VCB) all ending in green.
But Asia Commercial Bank (
ACB), Military Bank (
MBB), VPBank (
VPB), Techcombank (
TCB), and HDBank (
HDB) fell.
Some blue ships like insurer Bảo Việt Holdings (
BVH), tech company
FPT Corporation (
FPT), steel maker Hoà Phát Group (
HPG), consumer giant Masan Group (
MSN), conglomerate Vingroup (
VIC), Vinhomes (
VHM), and Techcombank (
TCB) also ended in negative territory.
Large cap stocks saw divergence with the VN30-Index, which tracks the 30 largest stocks by market capitalisation on HoSE, was down 0.06 per cent to 823.77 points.
Fifteen gained while 12 declined, while the other three remained unchanged.
Market sentiment was boosted after US stocks moved up in overnight trading.
The Dow Jones Industrial Average rose 2.05 per cent to close at 26,269.89, the S&P 500 gained 1.36 per cent to 3,122.87 and the Nasdaq Composite finished 0.78 per cent up at 9,682.91.
Out of 25 sectors, 14 including securities, banking, logistics, real estate, agriculture, construction, seafood processing, and insurance posted gains.
Retail, information and technology, energy, rubber production, food and beverages, construction materials, and healthcare finished in the red.
The HNX-Index on the Hà Nội Stock Exchange gained 0.80 per cent to close at 117.42 points.
More than 83 million shares worth VNĐ967 billion were traded.
Foreign investors were net sellers to the tune of VNĐ65.26 billion on HoSE as they dumped
E1VFVN30 (VNĐ131.2 billion), Hồ Chí Minh City Infrastructure Investment
JSC (
CII) (VNĐ50.2 billion) and Bảo Việt Holdings (
BVH) (VNĐ20.7 billion).
On the HNX too they were net sellers (VNĐ17.78 billion).
“The VN-Index could experience considerable volatility at the 880-888 resistance zone in the next session,” Bảo Việt Securities Co said.
“The market, which has become overbought, will possibly face pressure.” —
VNS
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