Rising profit-taking force weighs down the market

Rising profit-taking force weighs down the market

The benchmark was up in the morning session, but selling pressure increased toward the end of the session, pushing the index back into negative territory.

A Vietcombank teller talks to a customer at its transaction office. Shares of the lender dipped 1.43 per cent on Thursday, weighing on the market's sentiment. — Photo courtesy of the bank

Indices ended Thursday on a negative note as adjustment pressure in banking stocks prevented VN-Index from holding onto green territory through the close. Despite the pullback, securities firms emerged as a notable bright spot, with several tickers surging.

The VN-Index, representing the Hochiminh Stock Exchange (HoSE) fell slightly 0.86 points to 1,866.35 points. The benchmark was up in the morning session, but selling pressure intensified toward the end of the session, pushing the index back into negative territory.

The market's breadth leaned towards the negative zone, with 164 stocks declining while 122 stocks increased. Liquidity, however, was little changed, reaching VNĐ17.2 trillion (US$656 million). 

On the Hanoi Stock Exchange (HNX), the HNX-Index declined 6.43 points to 306.73 points.

The VN30-Index, tracking the 30 biggest stocks on HoSE, also finished lower at 2,009 points, down 4.31 points. Within the VN30 basket, up to 20 stocks edged down, while five ticked up and five stayed flat. 

Vingroup (VIC) continued to be the biggest pillar, contributing about 5.3 points to the VN-Index. Vinhomes (VHM) added another 1.49 points, while Ho Chi Minh Securities (HCM) brought 0.21 points, PV Power (POW) contributed 0.2 points and Vinamilk (VNM) added 0.13 points. 

On the downside, Vietcombank (VCB) was the largest drag, erasing 1.57 points. BIDV (BID) followed with a reduction of 0.77 points, Techcombank (TCB) reduced the index by 0.67 points and LPBank (LPB) lowered it by 0.63 points. 

The session's standout was the securities sector. Among large-cap securities, HCM rose sharply by 3.2 per cent, becoming one of the leading movers within the segment. 

Other gainers included Vietinbank Securities (CTS) up 5.97 per cent, FTP Securities (FTS) rising 3.72 per cent and VIX Securities (VIX) climbing 1.17 per cent.

Notably, BVS of Baoviet Securities, which listed on the HNX, hit the maximum daily gain of 10 per cent. The advance in BVS occurred in the context of Bao Viet Holdings (BVH) having just announced its 2026–2030 capital restructuring plan at the annual general meeting of shareholders.

Accordingly, the group plans to increase capital for Baoviet Securities (BVSC) to strengthen its financial capacity. It also outlined a proposal to reduce its ownership stake to below 50 per cent of the charter capital at an appropriate time.

Foreign investors, after reportedly being net buyers in the previous session, returned to net selling of nearly VNĐ440 billion on HoSE. 

Bizhub