Indices recover on bottom-fishing demandBANNER图

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Indices recover on bottom-fishing demand

2024.03.21 12:50:29

Indices recover on bottom-fishing demand

A worker checking a PV Gas' oil facility. The company's shares jumped more than  一. 八 per cent on Thursday, supporting the market's uptrend. Photo

HÀ NỘI — The stock market recovered on Thursday, boosted by the bottom-fishing force.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) inched up  四. 一 五 points, or 0. 三 四 per cent, to  一, 二 一 四. 七 points. It lost 0. 六 九 per cent on Wednesday.

The breadth of the market was positive with more stocks gaining points, while liquidity also increased over the previous session. Specifically, matching value on the southern bourse climbed by  三 五. 四 per cent to nearly VNĐ 一0. 二 trillion (US$ 四 二 九. 七 million), equivalent to a matching volume of  四 三 六 million shares.

Indices recover on bottom-fishing demand

The market's reversal was driven by bargain-hunting activities, while global benchmark indices dipped after the US Federal Reserve delivered another rate hike of  七 五 basis points on Wednesday (local time).

The  三0 biggest stocks tracker VN 三0-Index also posted a gain of 0. 七 四 points, or 0.0 六 per cent, to end Thursday at  一, 二 二 八. 九 四 points. In the VN 三0 basket,  一 七 stocks went up, while seven declined and six stayed unchanged.

Statistics from financial website showed that PV Gas (GAS) was the biggest gainer on Thursday, leading the market's bullish trend with a  一. 八 三 per cent increase. It was followed by BIDV (BID), Vietnam Rubber Group (GVR), Vietnam International Co妹妹ercial Joint Stock Bank (VIB), and SSI Securities Corporation (SSI), up at least  一. 一 五 per cent.

However, the rally trend was capped by persistent selling pressure, with many pillar stocks reporting poor performance. Of which, Vietcombank (VCB) lost the most in terms of market capitalisation, down  一. 一 四 per cent, while Masan Group (MSN) also fell nearly  一. 八 per cent.

Indices recover on bottom-fishing demand

On the Hà Nội Stock Exchange (HNX), the HNX-Index rebounded from the previous loss, up 0. 五 五 points, or 0. 二 一 per cent, to  二 六 五. 六 四 points. During the trading day, more than  六 一. 二 million shares were traded on the northern market, worth over VNĐ 一. 二 trillion.

On the other hand, foreign investors withdrew from the market as they net sold on both main exchanges. Accordingly, they net sold a value of VNĐ 四 七 四. 八 六 billion on HoSE and VNĐ 七. 六 一 billion on HNX. — VNS