Market remains mixed as VN-Index tests the 1,800-point milestone

Global macro conditions are calm and oil prices staying below 100 USD per barrel continue to support a slow-moving stock market. The VN-Index closed the morning session up 0.9%, led by major stocks, while most shares fluctuated in narrow ranges and liquidity remained subdued.

VN-Index edges toward 1,800 points

The VN-Index is being driven toward around the 1,800-point level by bellwether stocks. In the VN-Index’s total gain of 16.01 points, VIC rose 2.78%, VHM rose 2.25%, VCB rose 1.35%, and TCB rose 1.25%, contributing over 12 points.

Within the VN30 basket, gains were modest, with only a few stocks posting stronger increases. VJC rose 2.34%, SAB rose 2.1%, and VRE rose 1.79%.

VN30: more advancers, but limited index upside

VN30 closed the morning session up 0.59%, with 19 gainers and 7 decliners. The number of rising stocks was high, but the index’s gain was modest as valuations of the leaders were adjusted and most stocks rose only slightly.

Liquidity remains weak

Liquidity in the VN30 basket was also weak, with over 4,128 billion dong in traded value, down 11% from the previous morning and the lowest in six sessions. The level of activity suggests the absence of big investors or very limited participation.

Price movement was similarly restrained. Only 8 blue-chip stocks recorded swings greater than 2%. For example, VIC swung as wide as 3.49% in the morning but retraced about 1.1% from the peak. DGC reversed to a 1.24% loss from the reference, with the widest green-to-red range of 2.16%.

HoSE breadth improves, but gains are concentrated

Across the entire HoSE market, breadth at the close was 160 advancers to 124 decliners. However, only 59 stocks rose more than 1% and 42 fell more than 1%. Liquidity was uneven: the weakest group accounted for about 5.5% of the exchange’s traded value, while the strongest group accounted for 45.5%.

Rising performance appears dominant, but trading is highly concentrated. Fewer than half of the stocks up more than 1% traded at least 10 billion dong, while 16 stocks traded more than 100 billion dong. The most active liquidity clustered in a limited set of names, including blue-chips such as VIC, VHM, VCB, and TCB, as well as mid-cap stocks.

Notable movers and traded values

• HCM: up 4.05%, traded 551.5 billion dong
• NVL: up 5.26%, traded 453.5 billion dong
• VIX: up 1.38%, traded 332.9 billion dong
• CII: up 1.01%, traded 251.2 billion dong
• BSR: up 1.14%, traded 187.3 billion dong
• EVF: up 3.61%, traded 171 billion dong
• KDH: up 1.91%, traded 135.7 billion dong

Foreign flows stay subdued

Foreign investors continued to trade at a very slow pace. This morning marked the third consecutive session with net buying/selling below 1,000 billion dong. Net flow was around -72.3 billion dong.

On the buy side, the main net purchases were VIC (+145.8 billion dong), NVL (+26.6 billion), VIX (+26.6 billion), and SSI (+25.3 billion). On the sell side, notable net sales included FPT (-105.4 billion dong), VHM (-83.4 billion), STB (-32.9 billion), and BSR (-32.5 billion).

Market close and outlook for 1,800

VN-Index was supported by some pillar stocks and closed the morning at 1,791.66 points, after a session high of 1,795.88 points. VIC, VHM, VCB, and TCB were unable to sustain their highs, and the VN30 index had 10 stocks retreat more than 1% from their peak. This makes crossing the 1,800-point level less certain.

Even so, breakout potential among the leaders remains, as selling pressure appears relatively light. With liquidity relatively low and price swings narrow, the market continues to reflect a thin supply-demand balance, where prices can change quickly but neither side is strong enough to dominate entirely.