VN-Index gains for fifth straight session

VN-Index gains for fifth straight session

The rally was driven largely by real estate stocks, with particular emphasis on Vin stocks.

The Vietnam Exposition Centre in Đông Anh Commune, a project built by Vingroup. The conglomerate's shares hit the maximum daily gain of 7 per cent on Thursday, leading the market's uptrend. — VNA/VNS Photo

The market's benchmark indices kept their upbeat tone as the VN‑Index extended gains for a fifth consecutive session, but the rally remained marked by persistent divergences among stocks. 

On the Hochiminh Stock Exchange (HoSE), the VN‑Index finished at 1,819.83 points, up 19.18 points, or 1.07 per cent. 

The VN30‑Index, representing the 30 biggest stocks on HoSE, gained 17.59 points, or 0.9 per cent, ending at 1,979.19 points.

Despite the benchmark advance, market breadth continued to tilt to decliners, with 213 stocks falling and 105 stocks rising. In the VN30 basket, 11 stocks ticked up and 18 ticked down, highlighting the lack of broad-based participation behind the index gain.

Liquidity was also slightly lower than the previous session, decreasing to over VNĐ27.9 trillion (US$1.1 billion).

The rally was driven largely by real estate stocks, with particular emphasis on Vin stocks. Particularly, Vingroup (VIC) alone contributed 21.46 points to the VN‑Index, exceeding the overall index increase, while Vinhomes (VHM) added 5.52 points and Vinpearl (VPL) contributed 0.81 points.

Other pillars were also cited as supporting upward movement, including VPBank (VPB), Mobile World Investment Corporation (MWG), Kinh Bac City Development Holding Corporation (KBC), Masan Group (MSN), PV Power (POW), Binh Minh Plastics (BMP) and Sahabank (SHB).

In contrast, some banking and oil and gas stocks posted negative performance. In banking, Vietcombank (VCB), Vietinbank (CTG) and MBBank (MBB) collectively reportedly took away more than 1.6 points from the VN‑Index. In energy, PV Gas (GAS) and Binh Son Refining and Petrochemical (BSR) were also subtracting 0.4 points and 0.37 points, respectively, from the benchmark.

On the Hanoi Stock Exchange (HNX), the HNX-Index gained 3.77 points, or 1.49 per cent, to 256.49 points. 

Foreign investors continued their net selling trend today, offloading up to VNĐ1.2 trillion on HoSE. 

In the current environment, Thien Viet Securities (TVS) advised investors to maintain caution. 

The brokerage noted that with the VN‑Index approaching a strong resistance zone around 1,800 points, also framed as an old peak formed in 2025, the market's upward momentum lacks concrete support as it depends significantly on Vin family stocks.

TVS added that such a divergent market structure can raise the likelihood of profit-taking, increasing the risk of a short-term correction as the index nears 1,800 points. 

Bizhub