Market reverses course on profit-taking pressure

Market reverses course on profit-taking pressure

Analysts suggest that today's reversal was a necessary correction following the rapid gains early in 2026.

At a Vietcombank transaction office in Hà Nội. Shares of the lender hit the ceiling price on Thursday, helping cushion the market's downtrend. — VNA/VNS Photo

Market experienced notable volatility on Thursday, opening in positive territory before a steep decline that interrupted the VN-Index's six-session rally.

The benchmark index initially expanded its gains, driven by strong domestic capital inflows into large-cap stocks, but faced a dramatic downturn as profit-taking set in just an hour before market close.

By the end of the session, the VN-Index, which represents the Hochiminh Stock Exchange (HoSE), decreased 6.02 points, or 0.32 per cent, to 1,855.56 points.

Market breadth fell into the negative territory, with 183 stocks declining and 144 stocks inching higher. Meanwhile, liquidity on the southern bourse surged to more than VNĐ40.1 trillion (US$1.5 billion), equivalent to a trading volume of nearly 1.3 billion shares.

Similarly, the VN30-Index dropped 22.73 points, or 1.08 per cent, to 2,074.03 points. In the VN30 basket, 16 stocks ticked down, while 12 increased and two ended flat.

After several sessions of maintaining the index's ascent, the Vin stocks group became primary targets for short-term profit-taking. In particular, Vinhomes (VHM) and Vincom Retail (VRE) both hit the floor prices, while Vinpearl (VPL) plunged 6.37 per cent and Vingroup (VIC) fell 1.34 per cent.

The real estate sector also faced significant sell-offs, with Khang Dien Houses (KDH) declining by 2.71 per cent, Phat Dat Real Estate Development (PDR) by 1.6 per cent and Dat Xanh Group (DXG) by 1.49 per cent.

Moreover, large-cap stocks across various sectors suffered steep losses, putting downward pressure on the benchmark index. Key declines included VietJet Aviation (VJC), Viettel Post (VTP), Gelex Electricity (GEE), Mobile World Investment Corporation (MWG) and FPT Corporation (FPT). All were down in a range of 1-6.4 per cent.

The index pared losses on the back of banking stocks. Leading this group was Vietcombank (VCB), which posted the maximum daily gain of 7 per cent. It was followed by BIDV (BID) up 5.13 per cent and Vietinbank (CTG), which climbed 2 per cent.

The oil and gas sector maintained its positive trajectory.

On the Hanoi Stock Exchange (HNX), the HNX-Index also fell, decreasing by 0.3 points, or 0.12 per cent, to 249.1 points.

Foreign investors resumed net buying, acquiring nearly VNĐ521 billion on HoSE and over VNĐ84.6 billion on HNX.

Analysts suggest that today's reversal was a necessary correction following the rapid gains early in 2026.

The significant increase in liquidity indicates a rotation of capital at the 1,880-point peak. It appears the market may require time to consolidate and absorb profit-taking before making another attempt to break through the 1,900-point barrier. 

Bizhub