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The stock market on May 5 saw a highly volatile session, with red dominating broadly, but the main indices still rose sharply, supported by Vin family stocks and oil and gas shares.
At the close on May 5, the VN-Index rose 20.79 points to 1,874.85. By contrast, the HNX-Index fell 2.62 points to 247.42, and the UPCoM-Index lost 0.45 points to 127.26.
On the HOSE exchange, market breadth leaned decisively to the downside, with 226 stocks down (including 7 hitting the floor) versus 101 up (including 5 at the ceiling).
After the correction, Vin group stocks became an important pillar helping the VN-Index push higher. Several stocks in the group rallied, including VIC up 3.54%, VHM up 6.48%, VRE up 4.45%, and VPL up 3.28%.
The group’s gains were supported by positive first-quarter results, as many ecosystem companies reported strong profit growth, including new records.
Oil and gas shares also continued to attract strong investor demand, rising sharply. Notable gainers included BSR up 5.94%, PVT up 6.74%, PLX up 1.42%, PVS up 2.8%, PVD up 3.94%, POW up 2.63%, and GAS up 1.57%.
The main driver cited was the rise in global oil prices to around $114 per barrel amid geopolitical tensions in the Middle East.
Beyond the two leading themes, many other large-cap stocks also surged, contributing to the market’s overall rise, including GEE up 6.91%, GMD up 3.33%, LPB up 2.34%, VPB up 3.9%, MSB up 1.2%, HAH up 2.16%, DPM up 1.92%, and DCM up 1.31%.
Despite the VN-Index’s strong close, selling pressure remained visible across many sectors. Banks, securities, and real estate stocks fell sharply, including ACB -2.16%, SHB -2.44%, VCB -1.32%, VIX -2.37%, VCI -2.1%, GVR -2.36%, VTP -3.09%, CII -3.15%, PC1 -3.28%, KDH -2.4%, and NLG -2.88%.
In real estate, NVL of NoVa Real Estate Investment Corporation (Novaland) continued to draw negative attention as investors sold heavily, pushing the stock to the floor. At the close, NVL traded at 17,800 dong per share, down the floor 6.81%, with more than 33.3 million shares traded on matched orders.
The stock also remained “empty on the buy side,” with sell orders on the floor piling up to a record over 44.6 million shares. This was the second consecutive floor-trading session for the stock, dragging Novaland’s market capitalization to 39.774 trillion dong.
The decline came not long after Bui Cao Nhật Quân officially assumed the role of Chairman of the Board for the new term, replacing Bui Thanh Nhon, who moved to chair the Strategy - ESG committee. The leadership change did not appear to reassure investors given the continued downward pressure on the share.
Although the VN-Index rose strongly, the overall picture still pointed to selling pressure across many sectors. Market differentiation appeared to be increasing, with investor funds concentrating on story-driven groups such as the Vin family and oil & gas, while most other stocks remained under pressure.
According to Nguyen Trang
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