Large-cap stocks buoy market recovery

The local stock market recovered today, December 11, with the VN-Index rising 1.48 points, or 0.15%, at 961.78, backed by the rising prices of large-cap stocks.

On the Hochiminh Stock Exchange, the VN-Index rebounded and hit its highest level of the day after falling below the reference mark.

There were 216.5 million shares worth nearly VND4.4 trillion changing hands, down 10.8% in volume and 12.6% in value over the session earlier. In block deals, 57.9 million shares were traded with a total value of nearly VND1.5 trillion.

Among the top 10 large-cap stocks, only housing developer VHM dropped 0.44% at VND91,100, and property firm VIC and brewery firms SAB closed the day at their reference levels.

The remainder posted an increase, but the increase was not significant. Only lender TCB picked up over 1% at VND22,700.

In this group, retailer VRE was the best performer by liquidity with five million shares transacted.

As for other blue-chip stocks, lender CTG, consumer goods firm MSN, fuel distributor PLX and national flag carrier HVN closed in the red. Meanwhile, many stocks recovered successfully, such as lender HDB, property enterprise NVL and jewelry company PNJ.

Notably, bank stock MBB rose 3.32% at VND21,800, with 3.5 million shares matched.

On the Hanoi Stock Exchange, the HNX-Index had the same developments as the VN-Index as it also fell below the reference level before going upward and reaching its highest level of the day.

The HNX-Index inched up 0.34 point, or 0.33%, at 102.38. Trading volume and value declined 20% and 32% at 24.67 million shares worth VND263.8 billion.

Of these, block deals accounted for 10 million shares worth over VND97.8 billion.

The recovery of three bank stocks on the Hanoi bourse helped the HNX-Index close above its reference level. Specifically, NVB edged up 1.06% at VND9,500, SHB added 1.67% at VND6,100, and ACB picked up 0.44% at VND22,900.

In addition, industrial firm VCS moved up 5.19% at VND83,100.

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