Stocks reversed course in the final minutes of the trading session, heavily influenced by the VN30 index, with HPG contributing the most to gains following news of substantial profits.
The VN-Index chart today was volatile, trading above the reference level for about the first hour of trading before turning red in the early afternoon as selling pressure intensified. Around 2 PM, the index briefly dropped to nearly 1,175 points – a crucial support level.
However, shortly afterwards, the HoSE index improved and surpassed the reference level around 2:20 PM as the VN30 group performed significantly better. At the close of the session, the VN-Index reached 1,182.86 points, an increase of nearly 1.4 points compared to the end of last week.
The number of rising and falling stocks on the HoSE exchange was roughly equal, at 246 and 223 respectively. The sectors with the most positive performance were media, telecommunications, and steel.
The market reversal was largely driven by HPG. Hoa Phat Group's stock reached a trading volume of nearly 1,870 billion VND, the highest in the market today, with approximately two-thirds being active buy orders. The stock briefly rose 3% before closing 1.8% higher than the reference price. This stock contributed the most to the VN-Index's increase.
HPG's performance improved following the announcement that Hoa Phat Group achieved its best business results of the year in the fourth quarter of 2023. Revenue increased by 33% year-on-year to over VND 34,900 billion. After-tax profit increased by 249% to nearly VND 3,000 billion. Compared to the previous quarter, this figure represents a 48% increase.
For the full year 2023, Hoa Phat achieved approximately VND 120,355 billion in revenue and VND 6,800 billion in after-tax profit, representing decreases of 16% and 19% respectively compared to the same period. The company completed 85% of its 2023 plan.
Besides HPG, the market also saw positive performance from NVL. This stock had risen 6% before closing at 17,300 VND per unit, accumulating a further 5.5% increase compared to the reference price. This stock was the second-highest contributor to the market's increase.
Liquidity on the HoSE exchange increased by approximately 3,900 billion VND today, reaching over 18,700 billion VND. Capital flowed into the real estate, banking, resources, and securities sectors. While the real estate and securities sectors continued to perform relatively well, the banking sector began to face profit-taking pressure after a week of being the market's focal point.
Foreign investors recorded their eighth consecutive net buying session, totaling approximately 470 billion VND. This is the highest figure since the end of October, or the past three months. Today, this group heavily accumulated shares of PC1, CTG, STB, and VCG.
Tat Dat
Source link
Comment (0)