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Shares gain on bank and real estate stocks

The market closed higher on Monday as a series of banking and real estate stocks surged, propelling the indices.

 

The Sun Avenue, a condo project developed by real estate company Novaland in HCM City's District 2. Novaland (NVL) rose 4.3 per cent on Monday. — Photo novaland.com.vn

 

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 0.95 per cent, equivalent to 11.6 points, to 1,236.05 points. The market breadth remained neutral as 226 stocks climbed while 201 stocks fell and 62 ended flat.

From the beginning of the afternoon session to the end of the trading day, system overload occurred and persisted, meaning trading changed little compared to the end of the morning session.

The market liquidity was high with a trading volume of over 693 million shares, worth over VND16.8 trillion.

“The market's upturn momentum continued in the first session of the week thanks to the active movement of banking and real estate sectors,” said BIDV Securities Co.

“Investment cash flow decreased slightly compared to the previous session. Liquidity increased slightly and market breadth was neutral, reflecting the balance of buying and selling power after the market broke through the 1,200-point level.

“Foreigners returned to be net buyers on the HSX and net sellers on the HNX. With the return of foreign investors' net buying and stable domestic cash flow, BSC maintains the view that the market will consolidate shortly in the 1,215-1,230 range,” the company said.

Foreign investors net bought VND122.98 billion on HOSE, including Masan Group (MSN) (VND126.5 billion), E1VFVN30 (VND85.8 billion) and Hoa Phat Group (HPG) (VND76.6 billion). They were net sellers on the HNX with a value of VND19.25 billion.

The VN30-Index, which tracks the 30 biggest stocks on the southern bourse, increased 0.96 per cent, equivalent to 11.87 points, to 1,249.90 points.

In the VN30 basket, 20 stocks rose, while nine declined and one stayed unchanged.

Stocks from banking and real estate posted a good performance on Monday.

Notable gainers included Vietcombank (VCB), Military Bank (MBB), Sacombank (STB), Eximbank (EIB) and Bank for Investment and Development of Vietnam (BID), Vingroup (VIC), Novaland (NVL), Vinhomes (VHM), Phat Dat Real Estate (PDR) and Vincom Retail (VRE).

On the Ha Noi Stock Exchange (HNX), the HNX-Index lost 1.24 per cent to close Monday at 291.24 points.

In Monday’s trade, some 154.5 million shares were traded on the northern bourse, worth nearly VND2.5 trillion. — VNS

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