“King” stocks pull the market

SGGPO 11/14/2023 16:03

Despite foreign investors continuing to dump their stocks and the large profit-taking pressure from domestic investors, the VN-Index continued to increase by nearly 10 points thanks to the rise of the "king" stocks (banks).

Banking stocks surge, pulling VN-Index up

On the Vietnamese stock market on November 14, the VN-Index increased by nearly 13 points at one point, then turned back to near the reference point because investors rushed to take profits. Foreign investors also sold more than VND500 billion on the HOSE floor. However, at the end of the session, the VN-Index was pulled back up because the cash flow was quite good.

The market focus today is on the "king" stocks. Many banking stocks increased sharply from the beginning of the session and maintained their increase throughout: EIB increased to the ceiling, SHB increased by 3.62%, MSB increased by 2.66%, LPB increased by 2.61%, STB increased by 2.56%, BID increased by 2.33%, VIB and VPB increased by 2.08%, MBB increased by 1.93%, TCB increased by 1.94%, CTG increased by 1.36%, ABB increased by 1.27%, ACB increased by 1.11%...

Securities stocks also maintained green despite facing considerable profit-taking pressure: SBS increased by 2.78%, MBS increased by 1.46%, VIX increased by 1.25%, AGR increased by 1.01%, VDS increased by 1%, SHS, SSI, HCM, CTS, BVS, VND increased by nearly 1%...

Real estate stocks were strongly sold after the previous series of increases, but many stocks remained green, such as: NBB increased by 2.43%, NVL increased by 2.22%, DRH increased by 1.88%, SZC increased by 1.33%, IDC increased by 1.03%, HDC, KDH, VIC increased by nearly 1%... On the contrary, stocks turned to decrease: DIG decreased by 1%, DXG, DXS, KBC, VHM decreased by nearly 1%...

At the end of the trading session, VN-Index increased by 9.66 points (0.88%) to 1,109.73 points with 365 stocks increasing, 171 stocks decreasing and 91 stocks remaining unchanged. At the end of the session on the Hanoi Stock Exchange, HNX-Index also increased by 1.32 points (0.58%) to 227.43 points (0.58%) with 102 stocks increasing, 59 stocks decreasing and 63 stocks remaining unchanged. Market liquidity continued to improve, with total trading value across the market reaching VND19,500 billion, an increase of more than VND1,000 billion compared to the previous session.

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