Daily Market Watch 24/04/2026: The VN-Index Pulls Back On Significantly Low Liquidity Ahead Of The Holiday

MARKET HIGHLIGHTS

o       The Vietnam stock market opened on a cautious note with significantly low liquidity ahead of the long holiday, as investors refrained from initiating new positions amid heightened risk concerns. Banking stocks, which supported the market in the previous session, reversed and corrected sharply during the morning session as investors moved to close positions. Despite this, the index briefly climbed to an intraday high of 1,881.93, driven by strong gains in VIC, which rose as much as 3.45% at its peak. However, intensified foreign selling pressure on Vingroup stocks from around 10 a.m. weighed heavily on the group, triggering a broad pullback (VHM dropped sharply by -3.36%, while VIC pared gains to +0.84%). Consequently, the VN-Index closed the session down 0.43% (-7.95 points).

o       Mid-cap stocks declined from the outset, pressured by negative, unverified rumors surrounding PC1, which hit the floor for a second consecutive session and recorded over 10 million shares in sell orders at the floor price early in the day. Related stocks, particularly within the Gelex ecosystem, also fell sharply, resulting in weak market breadth throughout most of the morning session, with 92 advancers versus 195 decliners.

o   In the afternoon, market divergence became more pronounced. VN30 stocks faced notable pressure due to stronger foreign net selling, while mid- and small-cap stocks rebounded on bottom-fishing demand. A total of 21 VN30 stocks declined, led by heavily net-sold names including VHM (-5.23%), VCB (-3.50%), VPL (-2.4%), BID (-2.04%), CTG (-1.41%), and VIC (-1.12%), which collectively exerted the largest drag on the index.

o       The VN-Index closed down 0.91% at 1,853 points. Market breadth improved slightly with 188 advancers versus 135 decliners, though overall liquidity dropped sharply to USD 744 million (-34% DoD). The VN30 index recorded the steepest decline at -0.7%, while VNMID fell -0.3% and VNSML edged up 0.1%.

o       Foreign investors recorded a significant net sell of USD 74.4 million on HoSE. Selling pressure was concentrated in FPT, ACB (-USD 16 million), VCB (-USD 10.7 million), and VHM (-USD 9.3 million). Meanwhile, modest net buying was observed in TCB (+USD 1.3 million), VPI (+USD 1 million), and SSI (+USD 0.8 million).