VIC's strong increase helps VN-Index stay green

SGGPO 08/08/2023 19:05

VIC and VRE continued to act as pillars supporting the market, so the VN-Index remained stable at the peak reached in the previous session.

The Vietnamese stock market on August 8th saw weakening demand and increased profit-taking, causing continued volatility. In the afternoon session, the VN-Index briefly fell below the reference level due to heavy selling pressure before recovering and closing in positive territory.

VIC and VRE surged, helping the VN-Index maintain its positive performance.

In particular, VIC shares, ahead of Vinfast 's IPO, continued their impressive surge of nearly 5%, contributing to the VN-Index maintaining its positive performance. Thus far, after approximately 7 trading sessions, this stock has increased by 30%. Besides VIC, many other large-cap stocks also contributed to the market's rise, such as VRE (up 4.73%), POW (up 2.9%), and MSN (up 1.13%).

In the real estate sector, apart from VIC, VRE, and a few smaller stocks that increased, the rest all experienced significant declines. For example: HDC fell 3.26%, LGC fell 5.61%, CII fell 2.52%, CRE fell 3.67%, KDH fell 2.08%, KBC fell 1.84%, DIG fell 1.69%, PDR fell 2.22%, NLG fell 2.17%, DXG fell 2.09%...

Securities stocks also plunged into the red, with VND falling 2.19%, VCI down 1.56%, SSI down 2.02%, HCM down 0.32%, VIX down 4.73%, FTS down 1.79%, BSI down 1.47%, CTS down 2.05%, and so on.

The banking sector stocks showed mixed performance, but most remained in the red, with stocks such as VCB, BID, VPB, TCB, ACB,SHB , TPB, MSB… all falling by nearly 1 to over 2%.

At the close of trading, the VN-Index edged up 0.81 points (0.07%) to 1,242.23 points, with 242 gainers, 238 losers, and 73 unchanged stocks. On the Hanoi Stock Exchange, the HNX-Index rose 0.38 points to 246.07 points, with 108 gainers, 84 losers, and 140 unchanged stocks. Market liquidity remained high, with total trading value across the market reaching nearly 27,000 billion VND. Foreign investors continued to net sell nearly 237 billion VND on the HOSE.

Source: https://www.sggp.org.vn/vic-tang-manh-giup-vn-index-giu-sac-xanh-post700721.html