Daily Market Watch 19/03/2026: Market Volatility Spikes During The Derivatives Expiry Session

MARKET HIGHLIGHTS

o       Vietnam’s equity market opened in negative territory, tracking global weakness and domestic macro concerns. On HoSE, 235 stocks declined, with 140 names down more than 1% in the morning session. VN30 also weakened, with 20 stocks falling over 1%, while only VIC, VPL, and STB managed modest gains (~1%). Foreign investors maintained strong net selling and weighed on the VN30 Index. While mid- and small-cap stocks showed relative resilience, supported by rotation into previously underperforming sectors such as real estate. The VN-Index closed the morning session down 0.9% (-15.35 points).

o       Market volatilities intensified in the afternoon, especially after 2 PM, due to the expiration of the future contracts and rebalance activities of several foreign ETFs. VN30 stocks fluctuated by more than 2% within minutes, while VN30 liquidity surged 95% compared to the morning session. VIC saw the most notable swing, rising +2.74% at 2:15 PM before reversing sharply during the ATC session to close at -0.68%. GVR also faced heavy selling pressure, closing down 4.56%. The market remained broadly negative, with all major indices and sectors closing lower. The VN-Index ended the session down 0.86%, with market breadth skewed negative (95 gainers vs. 229 decliners).

o       Liquidity remained subdued, with total trading value on HoSE at USD 939 mn. Foreign investors extended net selling for the sixth consecutive session, with net outflows of USD 37.8 mn, concentrated in FPT (-USD 9.1 mn), VIC (-USD 8.8 mn), and BSR (-USD 5.7 mn). On the buying side, MSN (+USD 9.2 mn), VHM (+USD 4.2 mn), and ACB (+USD 3.6 mn) saw notable net inflows.