Vietnamese stocks jumped across the board on January 28, owing to the lift in banking shares amidst increasing selling pressure.

The benchmark VN-Index on the Hochiminh Stock Exchange added 0.77 percent to reach 583.76 points.

However, the transaction value dropped significantly to 1.9 trillion VND (89.2 million USD) from 2.8 trillion VND (131.5 million USD) on January 27. Trading volume reached 113.56 million shares.

The VN30 Index, comprising the city's 30 largest stocks, in terms of capitalisation and liquidity, climbed 0.58 percent to 613.53 points.

Although among the 30 blue chips, the declining stocks overwhelmed the advancing stocks, the latter added value at a stronger speed, assisting the index to rally. Insurer Bao Viet (BVH), Military Bank (MBB), Sacombank (STB) and Vietcombank (VCB) jumped 3 to 6 percent. MBB was the most active listed code on the southern bourse, trading 8.6 million shares.

Banking stocks generally performed well. The Bank for Investment and Development (BID) and Vietinbank (CTG) hit the daily increase limit. Eximbank (EIB) also rose 2.9 percent.

Meanwhile, bank shares on the Hanoi Stock Exchange, including the Asia Commercial Bank (ACB), the Saigon–Hanoi Bank (SHB) and the National Citizen Bank (NVB) rose between 1.4 and 5.7 percent.

The bourse's benchmark HNX-Index jumped 1.32 percent to end at 87.23 points.

The HNX30 Index, representing the performance of the bourse's top 30 blue chips, also gained 1.4 percent, reaching 168.28 points.

Trading value and volume hit nearly 739.6 billion VND (34.7 million USD) and 62.7 million shares, respectively.

If the impact of bank stocks is excluded, the overall market did not show positive signals as selling pressure remained relatively strong.

According to analysts for the financial information website, some leading individual shares in their sectors might generate profits, such as Pha Lai Thermalpower (PPC), Vinh Son-Song Hinh Hydropower (VSH) and Refrigeration Electric Engineering (REE). Retailer Hong Huy Investment (HHS), Thanh Cong Textile Garment Investment (TCM), Ninh Hia Sugar (NHS), as well as food processor Bourbon Tay Ninh (SBT) are also likely to report strong profits.-VNA