Some oil and gas shares have seen prices soar, hitting historic highs, because of the bright prospects of the oil and gas industry.

The VN-Index rebounded on Tuesday after four consecutive falling sessions, led by the banking, insurance and steel stocks.

Indices dropped sharply on Monday due to a strong selling force, showing investors’ pessimistic sentiment about the market’s movements.

Vietnam’s VN-Index surpassed the 1,480 benchmark for the first time, reaching 1,481.91 points on November 18 morning.

The Ho Chi Minh City Stock Exchange (HOSE) has made a long progress in 21 years of operation and a breakthrough in the past two years.

The number of newly-opened securities accounts opened in the last 18 months is equal to the total number of the previous 20 years.

Vietnamese shares plunged on Monday as panic selling flooded the market, following surging COVID-19 cases, reinforcing fears of further economic pain from restrictions induced by the virus.

After struggling to find direction, the market hit a new record on the back of bank stocks in the last trading session. Analysts from securities firms said that this will be the driving force for the VN-Index to head toward 1,400 points. 

The stock market of Vietnam is bustling with banking and securities stocks as the backbone, as the potential of banking stocks is attracting the attention of foreign investors.

The price for stocks of banks continue to attract cash flow and have increased again, helping bank assets reach new records.

The Hoang Anh Gia Lai Group (HAGL) of Chairman Doan Nguyen Duc has gradually withdrawn from the fields of business Duc has been dedicated to for a decade. 

The market witnessed strong buying interest last week and analysts from many securities firms expect indices to continue to hit new highs, but have warned investors to be cautious.

Vietnam’s top dairy company – Vietnam Dairy Products Joint Stock Company (Vinamilk) - has witnessed a strange financial movement, contrary to the strong uptrend of the stock market.

The PetroVietnam Power Corporation (PV Power) aims to earn VND28.4 trillion of revenue (US$1.2 billion) and pre-tax profit of nearly VND1.55 trillion this year.

The VN-Index has been in the top of the world's strongest stock indexes since the beginning of the year with an increase of more than 16%. Over the past year, the index has increased by nearly 50% despite the Covid-19 pandemic.

The flow of international capital has helped Vietnamese businesses grow quickly and build multi-sectoral businesses via big mergers and acquisition deals.

Billionaire Pham Nhat Vuong has launched a new system that is expected to help Vinhomes bring in about $1.5 billion in 2021.

Vietnamese stocks are forecast to stay on a downward trend this week due to caution among investors and accelerated selling pressure from foreigners, analysts said.

Billionaire Pham Nhat Vuong's company has recorded impressive business results despite the Covid-19 pandemic.