High demand buoys stock market

Despite ongoing profit-taking pressure from investors, the stock market on March 7 exhibited resilience with robust demand, resulting in a rebound.

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The HOSE exchange resumed normal operations despite the cause of the previous day's transaction order congestion remaining unidentified. A significant influx of funds poured into the market, prompting the HOSE to record another session of over US$1 billion. Notably, securities stocks jumped robustly due to significant capital inflows.

Despite ongoing profit-taking pressure from investors, the stock market on March 7 exhibited resilience with robust demand, resulting in a rebound. However, foreign investors remained net sellers for the third consecutive session on the HOSE exchange, with total net sales reaching nearly VND131 billion.

The securities group experienced significant advancements. Specifically, AGR and TVS hit the daily limit, while VIX skyrocketed by 5.88 percent, and VCI ascended by 3.58 percent. SBS jumped by 5.19 percent, SHS surged by 5.06 percent, VDS soared by 5.64 percent, ORS shot up by 3.59 percent, VND rose by 2.17 percent, SSI gained by 1.62 percent, and HCM increased by 1.58 percent.

Conversely, the banking sector underwent mild profit-taking, resulting in a slight downturn, with BID plunging by 2.02 percent and HDB declining by 1.28 percent. STB, MBB, LPB, CTG, ACB, VIB, and MSB decreased by nearly 1 percent.

The real estate and construction sector leaned towards positive territory. LDG hit the ceiling, BCM climbed by 4.23 percent, NTL rose by 1.82 percent, KDH grew by 1.53 percent, CEO gained by 1.36 percent, PDR advanced by 1.06 percent, DXG went up by 1.1 percent, and FCN elevated by 1 percent; KBC, DIG, NVL, VCG, CII, and the Vingroup trio VHM, VIC, VRE all experienced increases of nearly 1 percent.

Similarly, the manufacturing sector performed well. DGC and BFC peaked the daily limit, while MSN bounced by 5.07 percent, TNG advanced by 3.18 percent, PAN escalated by 4.16 percent, TCM strengthened by 2.97 percent, and VHC rallied by 2.68 percent.

The VN-Index climbed by 5.73 points, or 0.45 percent, to close at 1,268.46 points, with 253 stocks advancing, 219 stocks declining, and 85 stocks remaining unchanged.

Similarly, the HNX-Index at the Hanoi Stock Exchange also enhanced by 1.92 points, or 0.82 percent, to reach 237.37 points, with 104 gainers, 69 losers, and 64 unchanged stocks.

Liquidity remained abundant, with the total trading value on the HOSE nearing VND25.1 trillion.

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