Stocks rise for sixth straight session despite foreign selling

In the final minutes of the trading session, a late surge propelled the VN-Index past the resistance level of 1,250 points despite substantial selling pressure from foreign investors.


The stock market on May 8 continued to experience significant fluctuations due to strong selling pressure following an extended period of gains. Nevertheless, the market remained upbeat, with various sectors still showing synchronized increases. Among them, the oil and gas stock group made significant strides, with PVT and PVB hitting the ceiling, PVS rising by 5.39 percent, PVD surging by 3.44 percent, and BSR gaining by 2.12 percent.

The banking stock group leaned towards the red, albeit with modest declines. STB dropped by 1.24 percent, VPB slid by 1.33 percent, NAB decreased by 1.49 percent, while MBB, LPB, HDB, CTG, ACB, SSB, and BID experienced decreases of nearly 1 percent.

On the other hand, the securities stock group trended toward the green. SHS rallied by 1.06 percent, HCM added up by 1.08 percent, FTS emerged by 1.53 percent, CTS soared by 2.24 percent, VCI went up by 1.04 percent, AGR climbed by 1.62 percent, VDS advanced by 1.81 percent, and SSI mounted by nearly 1 percent.

The real estate and construction stock group exhibited strength but with distinct divergence. DPG and NHA rocketed to the trading ceiling while DIG escalated by 2.69 percent, NTL enlarged by 3.31 percent, TCH enhanced by 1.66 percent, HDG improved by 1.86 percent, BCG augmented by 1.78 percent, HDC built up by 1.91 percent, and BCG boosted by 1.78 percent. Conversely, NVL plummeted to the floor, PDR declined by 1.63 percent, HHV collapsed by 1.91 percent; KBC, NLG, SZC, CTD, DXG, VRE, VHM, VCG, KDH, and KBC demolished by nearly 1 percent.

Meanwhile, the manufacturing stock group remained highly active, with MSH hitting the trading ceiling, VGS skyrocketing by 6.07 percent, HPG climbing by 1.82 percent, DCM swelling by 2.55 percent, TNG elevating by 3.21 percent, SAB growing by 2.08 percent, TCM improving by 2.68 percent, DPM capturing by 1.64 percent, MSN earning by 1.54 percent, and ANV ascending by 1.66 percent.

At the close of the trading session, the VN-Index climbed by 1.83 points, or 0.15 percent, to reach 1,250.46 points, with 204 stocks recording gains, 233 experiencing losses, and 68 remaining unchanged. Concluding the session on the Hanoi Stock Exchange, the HNX-Index also saw an uptick of 1.56 points, or 0.67 percent, to settle at 234.52 points, with 110 stocks advancing, 78 declining, and 57 holding steady.

Trading volume surged significantly, with the total trading value on the HOSE surpassing VND23.3 trillion, up by nearly VND5 trillion compared to the previous session.

Foreign investors have resumed net selling, with sales reaching nearly VND1.28 trillion on the HOSE, putting an end to the three consecutive sessions of net buying.

Other news