Continuing the upbeat momentum from yesterday’s session, the Vietnam stock market “soared” in the session on March 13. At the close, the Vn-Index increased by 22.5 points (equivalent to 2.05%) to 1,270 points. Market breadth tilted heavily towards the buying side with over 544 stocks gaining points, completely overwhelming the declining stocks. Liquidity continued to improve with the trading value on HOSE surpassing 23,500 billion VND.
As a pillar sector, the banking group showed positive developments in today’s session and was the main driving force behind the market’s gains. At the close, the entire banking sector recorded 26 stocks in the green and only 1 stock closing at the reference price.
Among them, VIB, ACB, and MBB were the three strongest-performing bank stocks in today’s session, rising by 3.5%, 3.4%, and 3.3% respectively. In addition to the 3 mentioned stocks, a series of large-capitalized bank stocks also saw strong gains, such as TPB (+2.7%), VPB (+2.7%), SHB (+2.2%), STB (+2%), TCB (+1.9%). Stocks of the Big3 banking group also achieved good price increases, with CTG (+1.9%), VCB (+1.7%), and BID (+1.2%).
Stock performance in the banking sector on March 13. (Source: SSI)
With this development, the banking group contributed 6 out of the top 10 stocks that had the most positive impact on the Vn-Index in the session on March 13. VCB alone boosted this index by nearly 2.2 points; the contribution levels of VPB, MBB, ACB, and CTG were 0.97 points, 0.96 points, 0.86 points, and 0.85 points respectively.
Despite the price increase, the liquidity of the banking group remained low today. Among them, STB of Sacombank led the sector with nearly 16.5 million shares traded directly. Behind STB were EIB and MBB with trading volumes reaching over 15.3 million units.
