Strong performances by food and beverage stocks, an average rise of 3.88 percent, in the first session of the week pushed the VN-Index up to 889.64.
The first session of the week on Monday started on a positive note based on optimism from growing stocks in many parts of the world.
At the end of the session, the country's benchmark stock index, VN-Index, increased by 8 points.74 points to 889.64, while HNX-Index on Hanoi floor increased by 1 point.08 points to close at 101.ninety three.
Blue-chip stocks had a strong recovery in Monday's trading session.A major contributor to the VN-Index's rise on Monday was Vinamilk (VNM), the largest dairy company in Vietnam, with a four-fold price increase.1 percent to 135,000 VND ($5.66) per share.
Other large-cap stocks such as SBC (Sabeco, the largest brewery in Vietnam), VJC (VietJet Air, the largest low-cost airline in the country) and VIC (Vingroup, the largest private company in the country) , also contributed to the growth of the stock index.
The two main groups of stocks, namely banking and oil and gas, continued to maintain good momentum as members of these groups increased in parallel on the stock market.For example: BID (BIDV Bank) increased by 2.4% and GAS (PetroVietnam Gas) increased 2%.1 percent.
However, market liquidity continued to be low as investors remained cautious.
Bernard Lapointe, head of research of Rong Viet Securities, told Bloomberg recently that he was optimistic but not too optimistic about the market this year.He expects the VN-Index to stay in the range of 900-1,000 points until the end of 2019.
Meanwhile, Mr. Michel Tosto, Head of Brokerage and Institutional Sales of Ban Viet Securities, predicted that the VN-Index could reach 1,060 points by the end of 2019.
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