The VN-Index gained nearly eight points to close just below 1,706 on October 16, ending seven consecutive declining sessions. Bank shares and several large-cap stocks helped the benchmark regain the 1,700 level, VnExpress reported.
The index traded higher for most of the day and was briefly about 15 points above the previous close. Selling pressure increased during the afternoon and pushed it into negative territory during the closing auction before a late recovery.
Banks and VHM provide support
HoSE recorded 165 advancing stocks against 118 decliners. Buying interest appeared in tourism and leisure, banking, retail, construction and materials. CTG, BID, VCB, LPB and TCB ranked among the ten largest positive contributors.
VHM provided more than 3.6 index points, the strongest individual contribution. Vinhomes shares rose 3.6% to VND61,000, with trading value above VND513 billion.
VIC moved in the opposite direction, falling 1.4% to VND215,000 and subtracting almost five index points. Its trading value exceeded VND522 billion, illustrating the uneven performance of major stocks.
Weekly losses remain
HoSE turnover dropped 27% to nearly VND11 trillion. Foreign investors sold a net approximately VND535 billion, extending their net-selling sequence to 18 sessions. HDB accounted for VND182 billion in net foreign selling.
Despite the daily rebound, the VN-Index lost more than 29 points, or 1.68%, over the week. It was the fourth consecutive weekly decline.
VPBank Securities, in commentary cited by the report, said bottom-fishing demand needed to persist for the market to establish a new balance. That was an analyst assessment of conditions rather than confirmation of a sustained recovery.