A series of "pillars" pulled VN-Index over 1,250 points, steel stocks were sold heavily

A series of "pillars" pulled VN-Index over 1,250 points, steel stocks were sold heavily

A series of large stocks such as VNM, VCB, GAS... increased in price well and helped VN-Index maintain green color in the last trading session of July 2024.

After a session of decline but with a strong improvement in liquidity with a trading volume increase of nearly 30%, the market improved when entering the trading session on July 31. The indices were pulled up to the reference level right from the beginning of the session. The market's focus was on some large stocks such as VNM, GAS, MWG and banking stocks such as HDB, VIB , VPB or VCB.

HPG put the most pressure on the general market today, this stock decreased by 2.55% and took away 1.09 points from VN-Index. Besides HPG, steel stocks such as NKG, HSG, VGS or TVN all plummeted today.

The information that is said to affect investor sentiment in the steel industry is that the European Commission (EC) has also announced that it has received a request for an anti-dumping investigation into HRC steel originating from Vietnam. According to the financial report just released by Hoa Phat late this afternoon, the revenue and profit of this “giant” have both increased sharply compared to the low base level of the same period; at the same time, they are also significantly higher than the figures achieved in the previous quarter.

Hoa Phat's profits in recent quarters

In addition, PLX also had a strong correction session when it decreased by 2.51% and took away 0.37 points from the VN-Index. HVN also attracted attention when it hit the floor again to 21,250 VND/share. Along with that, a series of small and medium-cap stocks such as CSV, TCM, TCH, DBC... were also in red.

On the contrary, VNM today played a leading role in the cash flow focusing on the pillar stocks, in which VNM increased by 5.76% to 71,600 VND/share. VNM also contributed 1.99 points to the VN-Index and was an important factor in keeping the index green. The driving force for VNM to increase in price today came from the announcement of the second quarter financial statements with positive results. Specifically, VNM's revenue and pre-tax profit increased by 9.5% and 21.3% respectively compared to the same period in 2023. This is the quarter that VNM recorded the highest profit in the past 4 years, since the fourth quarter of 2021, with 3,308 billion VND before tax and 2,670 billion after tax.

VCB and GAS increased by 1.94% and 3.5% respectively, the points these two stocks contributed to the VN-Index were 2.32 points and 1.51 points respectively. The second quarter business results of both VCB and GAS were also relatively good. VCB recorded a consolidated pre-tax profit of more than VND 10,116 billion, up 9% over the same period in 2023. GAS's net profit also increased by 5% and reached more than VND 3,321 billion.

VCB, VNM and SAB lead the increase of VN-Index

In the group of small and medium-cap stocks, VIX and NVL had a pretty good trading session. VIX hit the ceiling price of VND11,250/share. Today is the ex-rights trading day for VIX to issue shares with a dividend rate of 10%, bonus shares with a rate of 10% and exercise the right to buy shares at a ratio of 100:95 at a price of VND10,000/share.

NVL also received good demand after the restructuring information and the announcement of the second quarter financial report. NVL closed the session up 3.95%. At one point during the trading session, NVL was even pulled up to the ceiling price. According to the second quarter financial report, this enterprise recorded net revenue of VND 1,549 billion, up 47% over the same period last year. The company reported a net profit of VND 941 billion, a sharp increase compared to the loss of VND 634 billion last year.

At the end of the trading session, VN-Index increased by 6.45 points (0.52%) to 1,251.51 points. The entire floor had 206 stocks increasing, 224 stocks decreasing and 68 stocks remaining unchanged. HNX-Index decreased again by 0.51 points (-0.22%) to 235.36 points. The entire floor had 81 stocks increasing, 83 stocks decreasing and 58 stocks remaining unchanged. UPCoM-Index decreased by 0.17 points (-0.18%) to 95.07 points.

Total trading volume reached 748.8 million shares, up 14% compared to the previous session, equivalent to a trading value of VND17,570 billion. Trading value on HNX and UPCoM reached VND1,063 billion and VND785 billion, respectively. Topping the list of matched orders on the market was VPB with 35 million units. VIX and HSG matched orders with 29 million units and 27.8 million units, respectively.

Foreign investors net sold for the third consecutive day.

Foreign investors sold strongly with 605 billion VND, of which, this capital flow sold the most VIC code with 901 billion VND and mostly through agreements at the end of the session. TCB ranked second on the net selling list with 44 billion VND. Meanwhile, VNM was the strongest net buyer with 370 billion VND. MWG was also net bought with 100 billion VND.

Source: https://baodautu.vn/loat-tru-cot-keo-vn-index-vuot-1250-diem-co-phieu-thep-bi-ban-manh-d221300.html