Daily Market Watch 18/03/2026: Broad-Based Rebound In Oil & Gas, Fertilizer, And Chemical Stocks

MARKET HIGHLIGHTS

o       Vietnam’s stock market extended its rebound at the open, with the VN-Index quickly rising to an intraday high of 1,742 points, led by large-cap stocks. The VN30 rallied strongly, with most constituents advancing, except DGC, which remained at its floor price with over 30 million shares on sell orders. Vingroup-related stocks led the gains, particularly VIC, which surged more than 5%. However, the market soon came under strong selling pressure from both retail and foreign investors, causing the VN-Index to reverse sharply toward the reference level. By the end of the morning session, the index managed to stay in positive territory, supported by VN30 stocks, while mid- and small-cap stocks corrected sharply by 3–5%, with the VNMID index down 1%, and market breadth tilted toward decliners.

o       Dip-buying demand strengthened in the afternoon session, helping the VN-Index rebound during continuous trading. VN30 stocks continued to lead the recovery, with VIC, VCB, BID, and MWG (all up more than 1%) contributing positively. A key highlight was the strong rebound in oil & gas, fertilizer, and chemical stocks, with multiple names hitting their ceiling prices, including DCM, BFC, DPM, PVD, PVC, and PVT, alongside strong gains in PLX (+6.13%) and GAS (+6.13%). This recovery followed a 20–30% correction in the recent downtrend, as investors bet on a rebound amid Iran’s announcement of closing the Strait of Hormuz, while oil prices remained elevated above USD 90/bbl. By the end of the continuous trading session, the VN-Index was up more than 20 points.

o       However, the market lost most of its gains during the ATC session, primarily due to sharp volatility in VIC. At the end of the continuous session, VIC was still up 5.2%, but during the closing auction, massive sell orders pushed the stock down to its floor price. Only in the final three minutes of the ATC session did buying interest emerge, lifting the price slightly. VIC eventually closed down 0.14%, but compared to its earlier gain of 5.2%, the reversal had a significant negative impact on the index. As a result, the VN-Index closed up just 0.21% (+3.54 points), meaning the index lost17.12 points (~1%) from the end of continuous trading to the close.