Steel prices increased for the second consecutive time, helping stocks in this industry such as HPG, NKG, HSG to rise, supporting the VN-Index to reverse the trend at the end of the session.
Today, green covered the board of steel and resources groups. In the group of pillar stocks of this industry, NKG increased by 4.6% with liquidity of nearly 390 billion VND, active buying accounted for 58% of matched orders. The two "big guys" HSG and HPG also closed the session up 3.1% and 1.5% respectively. Hoa Phat 's stock code ranked third among the stocks contributing the most increase to the market.
Smaller-cap stocks also recorded a large accumulation in market value. Of which, VGS closed 6.1% higher than the reference. Steel and resources sector indexes increased strongly today.
This group's stocks surged after news of continued steel price increases. Hoa Phat has just announced an increase in the selling price of CB240 rolled steel in the North to VND160,000 per ton, reaching VND13.74 million. Viet Y also adjusted the price by VND150,000 per ton for this type of steel. This is the second consecutive time that steel prices have increased after nearly three months of stagnation.
In addition, the market today was also supported by the "trio" of securities, real estate and banking groups. The codes with leading liquidity in the market such as SSI, VND, STB, DIG, DXG, PDR, VHM all increased by 1-2%, mainly the market price accumulated in the last minutes of the session. According to VNDirect, VHM and BID were the two stocks contributing the most to the market's increase.
Thanks to that, VN-Index escaped the decline. The HoSE representative index recorded a rather gloomy trading atmosphere in the morning, causing the index to drop to 1,076 points before the lunch break. Investors participated more actively in the afternoon, from which VN-Index gradually improved.
In the final minutes of the session, the index escaped the red and closed at 1,095.4 points, 7 points higher than yesterday. The number of stocks increasing and decreasing in price was not too different, 290 and 210 respectively.
Liquidity on the HoSE floor followed the index, increasing by more than VND2,900 billion, reaching about VND14,000 billion. Foreign investors had their third consecutive net buying session, but the difference was only over VND47 billion.
Siddhartha
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