The VN-Index rose 0.64 percent to 1,091.33, with non-blue chips driving gains on the market. 

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was predominantly green with 240 stocks rising and 194 falling. Of these, 28 hit their ceiling prices, the highest they could go in a trading session.

Total trading volume remained at this years’ highest levels, at VND14.59 trillion ($644.25 million), with over half of it going towards stocks outside the VN30 basket of the market’s 30 largest caps. 

The VN30-Index for this basket this session rose 0.2 percent, far less than the general market, with 14 stocks gaining and 13 losing.

Oil and gas stocks were the best performers this session, with POW of electricity generator PetroVietnam Power soaring 6.9 percent, hitting its upper limit for the day, while GAS of energy giant PetroVietnam Gas and PLX of gasoline distributor Petrolimex both gained 3.2 percent.

Other major gainers this session were SSI of top brokerage SSI Securities Corporation, with 5.6 percent, HPG of steelmaker Hoa Phat Group and TCH of real estate developer Hoang Huy Group with 2 percent each, and NVL of real estate developer Novaland, with 0.9 percent.

Results were split in the public banking sector. Of Vietnam’s three biggest state-owned lenders by assets, BID of BIDV was up 1.8 percent, VCB of Vietcombank up 0.4 percent, while CTG of VietinBank shed 1.2 percent. MBB of mid-sized Military Bank edged down 0.2 percent.

Of private banks, TCB was the only gainer with 0.5 percent. EIB of Eximbank and STB of Sacombank topped losses with 1.6 percent and 1.2 percent respectively, while VPB of VPBank and HDB of HDBank both fell 0.6 percent.

Other major losers included MWG of electronics retailer Mobile World, down 1 percent, VJC of budget carrier Vietjet Air, down 0.8 percent, and REE of appliances maker Refrigeration Electrical Engineering with 0.7 percent.

VIC of private conglomerate Vingroup, HoSE’s largest cap, kept its opening price. Of its two subsidiaries, VHM of real estate arm Vinhomes added 0.1 percent, and VRE of mall operator Vincom Retail was also flat.

According to the latest market forecast from brokerage BVSC, the VN-Index is expected to continue its short-term uptrend to challenge the 1,100 resistance level this week, and will see interweaving red and green in the following sessions.

Cash will continue rotating between the market’s blue chips to sustain growth, but will flow more towards mid- and smaller- caps with good financials as investors seek out new opportunities, it said.

The HNX-Index for the Hanoi Stock Exchange, home to mid-and small-caps, rose by 2.14 percent, while the UPCoM-Index for the Unlisted Companies Market this session added 0.22 percent.

Foreign investors continued to be net sellers this session to the tune of over VND375 billion on all three bourses, with selling pressure primarily on HPG of steelmaker Hoa Phat Group and MBB of Military Bank.