VN-Index Holds Onto Fragile Gains, Vingroup Stocks Provide Support

The VN-Index extended its winning streak for the eighth consecutive week during the trading period from March 10-14, albeit with a marginal increase of just 0.01%, closing the week at 1,326.15 points. In contrast, the HNX-Index staged a strong recovery following the previous week’s decline, gaining 1.81% to settle at 242.73 points.

Market Liquidity Shows Slight Decline

Market liquidity showed signs of softening. On the Ho Chi Minh Stock Exchange (HOSE), the average matched order volume reached nearly 998 million shares per session, reflecting a 1% decrease from the previous week. Meanwhile, trading volume on the Hanoi Stock Exchange (HNX) declined by 5% to over 69 million shares per session.

Vingroup Stocks Lead Market Support

The "Vingroup family" stocks emerged as the primary driver keeping the VN-Index in positive territory. VIC was the most influential stock on HOSE, contributing nearly 6.8 points to the index. Additionally, VHM added 3 points, while VRE provided a modest 0.3-point boost.

The banking sector also played a crucial role in supporting the index, with VCB, SHB, and VPB contributing 4.2 points, 0.8 points, and 0.7 points, respectively. Notably, NVL unexpectedly made its way into the list of top positive contributors, adding 0.3 points to the index.

NVL and SHB Close the Week on High Notes

NVL ended the week on March 14 at its ceiling price of VND 11,100 per share, with a trading volume exceeding 40 million shares. This surge followed favorable legal news regarding the company’s successful lawsuit against Saigon Co.op’s subsidiary, SCID, over the An Phu commercial and residential project in Thu Duc City, Ho Chi Minh City.

SHB also closed the week at its ceiling price of VND 10,700 per share, witnessing an exceptional liquidity surge of over 132 million shares—nearly eight times its one-year average. The strong rally came in response to SHB’s announcement of a shareholder record date for issuing dividend shares at an 11% ratio, equivalent to approximately 403 million new shares, potentially raising its charter capital to VND 40.657 trillion.

Declining Stocks Weigh on VN-Index

On the downside, FPT was the most significant drag on the VN-Index, erasing nearly 3.5 points. Several banking stocks, including BID, TCB, ACB, and EIB, along with HPG, also exerted downward pressure on the index, each contributing losses ranging from 0.7 to 1.3 points.

VN30 Basket Sees Predominant Declines

The VN30 index was dominated by declines, with 18 out of 30 stocks closing lower. FPT stood out as the biggest loser, shedding 8.6 points. ACB, TCB, HPG, and STB also recorded notable losses. On the upside, VIC remained the top performer, contributing nearly 7.8 points to the VN30-Index, far surpassing the contributions of VHM, SHB, VCB, and MSN.

HNX-Index Gains Led by KSF

On the HNX, KSF was the leading driver of the HNX-Index’s gains, adding over 5.1 points. KSV followed with a 2-point contribution, while THD, HGM, and SHS posted modest gains. Meanwhile, PVS, IDC, and NTP exerted downward pressure, though their negative impact remained limited.

KSF Surges 60% in a Week

A standout performer for the week, KSF skyrocketed by 60% in just five trading sessions, including four consecutive limit-up days, closing the week at VND 66,100 per share. This surge propelled the company’s market capitalization to VND 18.03 trillion. Prior to this rally, KSF had been trading sideways for nearly a year with low liquidity, occasionally registering only a few hundred shares per session.

As the market navigates through mixed performances across different sectors, investors continue to closely monitor macroeconomic indicators and corporate developments to gauge the sustainability of current trends.