An investor views share prices on electronic boards at Tan Viet Securities Company (Photo: VNA)

Hanoi (VNA) – VN-Index rose sharply on May 14, driven by large-cap stocks and oil & gas shares, despite low liquidity and foreign investors’ continued net selling.

On the Ho Chi Minh Stock Exchange (HOSE), VN-Index increased by 22.13 points to 1,066.98 points when 171 codes saw price hikes, 122 codes experienced declines and 45 others stayed unchanged.

HNX Index on the Hanoi Stock Exchange (HNX) inched up 0.51 point to 123.28 points with 95 codes rising, 72 others falling and the remaining 50 unchanged.

In the VN30 basket, measuring the 30 largest stocks by market capitalisation on the HOSE, up to 25 stocks witnessed price increases while only two stocks dropped.

[Net sells by foreign investors not a worry: analysts]

Oil and gas shares fluctuated in line with global oil prices in the beginning of the week when such stocks as PLX, BSR, POW, PVB, PVS, PVC and PVD ended in green.

While bank stocks ended mixed, securities and property shares recorded few transactions.

Although green coloured the indexes, liquidity was low. Total transaction value of the market reached only more than 4.7 trillion VND (207 million USD).

Both the HOSE and HNX recorded net selling by foreign investors, which sold more than 1.05 million shares worth over 93.69 billion VND (nearly 4.13 million USD) on the HOSE and 124,090 shares worth 4.03 billion VND (177,320 USD) on the HNX.-VNA