Continued demand for blue chips helped lift the VN-Index back above 500 points on Thursday.
The Index ended the session 1.69 percent higher, at 503.83.
The volume of the day's trades on the HCM City Stock Exchange also rose by 32 percent to 34.5 million shares, worth a combined VND1.67 trillion (US$88.8 million).
Refrigeration & Electrical Engineering (REE) was the most-active share on the day, with 1.66 million traded, but Sacombank (STB), Vinamilk (VNM), Saigon Securities Inc (SSI), Vietcombank (VCB) and Construction Giant Song Da (SJS) all found favour with investors.
"Consecutive buys by foreign investors for over the past two weeks, particularly their soaring trades yesterday, have boosted local investor confidence, lifting their share purchases," wrote FPT Securities Company analysts in their daily report.
Foreign investors continued to be net buyers on the HCM City exchange yesterday by a substantial 2.7 million shares, worth a net of VND205 billion ($10.9 million).
On the Ha Noi Stock Exchange, the HNX-Index also rose by 1.7 percent to close the day at 164.69. Trading volume rose by 30.6 percent to nearly 17 million shares, worth a combined VND552.4 billion ($29.4 million).
Kim Long Securities (KLS) reclaimed the position of the most heavily-traded share on the northern bourse, with over 3.6 million changing hands.
Foreign investors also were net buyers on the Ha Noi market, though by only a modest net of 238,000 shares, worth VND8.46 billion ($450,000).
"Prices of many sound shares are reasonable, which should encourage investors to invest," said Bao Viet Securities Co's analyst Nguyen Duc Thi, forecasting increasing demand in forthcoming sessions. But he also warned that 500 was a sensitive resistance level for the VN-Index, which was therefore likely to see further fluctuations.