VN-Index gains 11 points despite foreign investors’ sell-off

The VN-Index recovered for a second consecutive trading session on February 16 despite investors’ cautiousness which caused market liquidity to drop sharply.

Notably, steel and petroleum stocks had a strong breakthrough. Besides HPG, NKG hit the ceiling price, and HSG gained 4.97 percent. Petroleum stocks also rallied robustly, with PVC rocketing 7.91 percent, PVS jumping 6.88 percent, PVD soaring 4.49 percent, and PVT enlarged 3.55 percent. Securities stocks also climbed simultaneously, with VCI up 3.45 percent, VND up 4.28 percent, and HCM up 4.29 percent.

In addition, large-cap stocks also increased well, aiding the VN-Index to go up by nearly 11 points. Of these, NVL stock regained the green color when it surged 3.14 percent. In addition, HDB advanced by 3.93 percent, POW strengthened by 2.92 percent, CTG rose by 2.77 percent, HPG mounted 2.4 percent, and STB edged up by 2.36 percent.

However, foreign investors continued to sell a net value of nearly VND113 billion on the HoSE. Specifically, they sold VND83.45 billion STB shares, VND46.82 billion VIC shares, VND45.33 billion DXG shares, and VND29.79 billion HDB shares.

Closing the session, the VN-Index recouped 10.09 points, or 0.96 percent, to 1,058.29 points, with 314 gainers, 75 losers, and 121 unchanged stocks. Meanwhile, the HNX-Index added up 2.87 points, or 1.38 percent, with 110 gainers, 50 losers, and 182 unchanged stocks.

Besides investors’ cautiousness, market liquidity reduced sharply because it falls on the expiration date of derivative contracts. The total trading value on the two exchanges was only VND9.6 trillion.

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