HCMC, Vietnam (Market Insider) – Shares of Vingroup (VIC) exploded on October 23, surging nearly 6% to 215,000 VND per unit and acting as the primary engine for the broader market’s gain. This remarkable performance single-handedly helped the VN-Index overcome early-session choppiness.
VIC’s Performance Dominates Market Close
Trading activity was initially volatile, with the VN-Index struggling around the reference mark as blue-chip stocks showed mixed performance. However, stability returned toward the close, allowing the market to improve significantly. The VN-Index ultimately settled with a gain of 8.56 points, closing at 1,687.06 points. Despite the positive finish, liquidity on the HoSE fell sharply from the previous session to 24,578 billion VND.
The day’s standout performer was Vingroup (VIC), which was the strongest gainer in the VN30 basket. The stock surged by 5.91% to 215,000 VND, contributing a massive 10.4 points to the overall index gain. Trading volume for VIC exceeded 4.7 million shares.
The positive momentum extended across the Vingroup ecosystem, with subsidiaries Vinhomes (VHM) and Vincom Retail (VRE) also posting good gains and positively impacting the index. Reflecting the stock’s surge, the personal wealth of Pham Nhat Vuong, Chairman of Vingroup, also saw a sharp increase, reaching $20 billion, placing him at 118th on the global billionaires list.
Mixed Trading and Foreign Selling
While Vingroup and its affiliates provided the key highlight, the market also saw several other stocks on the HoSE hit their daily limit, including SVC, LGC, DXV, VSC, SVD, TNI, and TPC.
Despite the strong finish, the session was marked by continued pressure from foreign investors, who recorded a net sell of 1,265 billion VND. Major stocks sold off by foreign traders included CTG, VHM, MSN, SSI, TCB, and VCB.
