Large-cap stocks recover, helping VN-Index increase by more than 11 points

VN-Index increased by more than 11 points as large-cap stocks recovered

Accordingly, today, March 8, foreign investors net bought 241 billion VND on HOSE; 20.28 billion VND on HNX and only net sold 2.8 billion VND on UPCOM.

According to VNDIRECT Securities Joint Stock Company, with the increase in capital of foreign fund Fubon ETF and the change in the proportion of Vietnamese stocks of VNM ETF fund, it is expected that foreign capital will flow into the market about 6,100 billion VND in the next few weeks.

Fubon FTSE Vietnam, the second largest ETF (exchange-traded fund) in terms of net asset value, has successfully raised an additional NT$5 billion (approximately VND3,800 billion) and this capital may flow into the Vietnamese stock market this March.

In addition, the VanEck Vietnam ETF (VNM ETF) will change its benchmark index from MVIS Vietnam Index (with 80% Vietnamese stocks) to MVIS Vietnam Local Index (with 100% Vietnamese stocks) from March 17, 2023 onwards.

Thus, VNM ETF can buy about VND 2,300 billion in the Vietnamese stock market (approximately 20% of current net asset value).

In total, VNDIRECT estimates that about VND6,100 billion will flow into the Vietnamese stock market in the next few weeks, and may end foreign net selling.

Regarding trading performance, today the market of stock groups recovered strongly in the afternoon session, helping the index increase sharply. Specifically, in the VN30 group, there were 27 stocks increasing in price, while only 3 stocks decreased in price.

In the banking group, only NVB ended the session in red; while 21 stocks increased in price. Similarly, in the securities group, only IVS decreased in price, the remaining stocks mostly increased in price, with only a few stocks remaining unchanged. Green also spread to the real estate, oil and gas, construction and materials groups...
At the end of the trading session on March 8, VN-Index increased by 11.34 points to 1,049.18 points. Trading volume reached more than 510.2 million units, equivalent to nearly VND 8,538 billion. The entire floor had 256 stocks increasing in price, 123 stocks decreasing in price and 80 stocks remaining unchanged.

HNX-Index increased by 1.18 points to 208.68 points. Trading volume reached more than 102 million units, equivalent to more than 1,292.1 billion VND. The entire floor had 92 stocks increasing in price, 57 stocks decreasing in price and 66 stocks remaining unchanged.

UPCOM-Index increased 0.32 points to 76.49 points. Trading volume reached over 27.8 million units, equivalent to over 400.2 billion VND. The entire floor had 143 stocks increasing in price, 96 stocks decreasing in price and 79 stocks remaining unchanged.

According to VNA