Daily Market Watch 21/07/2025: VN-Index Reverses Below 1,500 on Heavy Profit-Taking

MARKET HIGHLIGHTS

o        The VN-Index opened on a strong note, surpassing the 1,500-point threshold within the first 30 minutes of the morning session. However, the market quickly lost momentum and moved sideways around the reference level. The hesitation stemmed from light foreign net selling and cautious sentiment among retail investors. Market confidence softened as the early gains failed to hold, with the index retreating sharply from its intraday high above 1,500 points. Notable morning gainers included HVN (+6.93%) on its ex-right date for a rights issue (execution ratio: ~1:0.41) and FPT (+1.64%) also trading ex-right for a 15% stock dividend.

o        The VN-Index once again failed to break through the strong resistance at 1,500. Index-heavy stocks weighed on performance, with the VN30 falling 0.96%, as 12 constituents advanced and 17 declined. Selling pressure was concentrated in large-cap names such as VIC (-5.88%), VHM (-4.17%), and TCB (-2.21%). The repeated failure to surpass the 1,500 threshold triggered stronger profit-taking activity, particularly in the Banking, Securities, and Real Estate sectors, which had previously seen substantial gains. Meanwhile, cash flow rotated into Materials, Technology, and Aviation stocks. VN-Index closed at 1,485 pts (-0.82%).

o        Liquidity remained elevated, reaching USD 1.3 billion, indicating intensified selling pressure. This pressure primarily originated from individual investors engaging in broad-based profit-taking. Foreign investors, on the other hand, recorded a net buy of USD 7.0 million, maintaining a high gross buying value of USD 163 million against gross selling of USD 156 million. VCB, FPT, VIX, and VCI led the net sell list, while VPB, VIC, and SSI attracted significant foreign net buying.