Shares rise for eight consecutive sessions, VN-Index hits new high

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Customers at the insurance company Bảo Việt Life, a member of the insurance-finance group Bảo Việt Holdings (BVH). BVH rose 2.9 per cent Wednesday. — VNA/VNS Photo Trần Việt

 HÀ NỘI — Shares gained for the eighth consecutive trading session Wednesday thanks to increased buying force as market sentiment improved when the VN-Index hit a new high.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index climbed 0.20 per cent to 1,242.38 points with the market breadth turning positive.

The southern market index gained a total 6.9 per cent during the last eight sessions.

During the session, 155 stocks decreased while 267 stocks increased.

The market’s liquidity stayed high with over 727.8 million shares traded, worth over VNĐ16.5 trillion.

The gain of the 30 large-cap trackers was the main driving force for the market’s rally. The VN30-Index increased 0.19 per cent to 1,257.77 points. Of the VN30 basket, 17 stocks gained while seven slid.

Thanks to the continuous increase of the market and no deep corrections, investors boldly entered buying orders, pushing many stocks to rise sharply.

Vingroup (VIC) and Masan Group (MSN) were the two leading stocks in the top ten that have the most positive impact on the VN-Index’s gain. They were followed by Novaland (NVL), insurer Bảo Việt Holdings (BVH), PVPower (POW), Military Bank (MBB), Vincom Retail (VRE), Hà Nội Export-Import Company (GEX).

Meanwhile, real estate company Vinhomes (VHM) and dairy firm Vinamilk (VNM) led the group of stocks that had negative impacts on the VN-Index.

“Despite the pressure of short-term profit-taking in the morning, VN-Index still surpassed 1,240 points in the afternoon session. Investment cash continued flowing into the market,” said BIDV Securities Co.

“Liquidity decreased slightly but remained at a stable level with positive market breadth, showing that cash flow is spreading to the market.

“Foreign investors turned to be net sellers again with the cash flow differentiating to mid-cap stocks, reflecting that the upturn momentum of the VN-Index may slow down and accumulate in the 1,230-1,250 range,” it said.

On the Hà Nội Stock Exchange (HNX), the HNX-Index rose 0.40 per cent to close Wednesday at 292.84 points.

It had risen 0.15 per cent to close Tuesday at 291.68 points.

In Wednesday’s trade, some 164 million shares were traded on the northern bourse, worth nearly VNĐ2.8 trillion. — VNS