Daily Market Watch 30/01/2026: The VN-Index Rebounds Strongly at 1,800pts Support Level

MARKET HIGHLIGHTS

o       The equity market fluctuated above the reference line in the morning, supported by strong retail inflows into mid- and small-cap stocks. Market sentiment improved as the Index reacted positively after it touched the 1,800pts support level. Stock prices rebounded positively in the broad market. Selling pressure in Vingroup stocks weighed on the VN30 and the VN-Index, briefly pulling the Index back toward the reference level. Meanwhile, other large-cap stocks moved narrowly. Toward the end of the morning, buying momentum broadened across all market segments, lifting the VN-Index close to the 1,830-point level, while market breadth turned clearly positive.

o       In the afternoon session, mid-cap stocks extended their gains, led by the real estate sector amid expectations that property sentiment could improve following news that China has removed its “three red lines” policy. Heavy trading activity was recorded in several real estate names, including KDH (+2.23%), DIG (+1.25%), VGC (+6.82%), PDR (+2.31%), DXG (+1.32%), NVL (+7.0%), KBC (+3.87%), HDG (+3.98%), BCM (+3.18%), and TCH (+1.62%). Those stocks had declined sharply in the past several weeks due to concerns on rising interest rates. Thus, a positive headline could trigger a nice bounce back.

o       Banking stocks also performed strongly. Across the 27 listed bank stocks, only five closed in negative territory, with SSB being the sole name declining more than 1% (-1.72%). Meanwhile, 14 out of 27 bank stocks rose by at least 1%, signaling a return of capital to the banking sector after recent pullbacks. Within the VN30 basket, 11 out of 14 bank stocks ended higher, with nine gaining more than 1%. Notable gainers included BID (+3.18%), CTG (+1.17%), MBB (+1.87%), TCB (+2.87%), VCB (+1.0%), and VPB (+1.27%). Among the top five contributors to the VN-Index’s gains, four were bank stocks, BID, TCB, VCB, and MBB, together adding approximately 6.7 points, or nearly half of the index’s total gain for the day. BID announced to adjust up mortgage lending rates to similar to VCB and CTG policies. Long term rate look exceptionally high in those banks (13.5%-14%). Private banks are offering relatively more comfortable rates at 10%-11% (for long term tenants) as we observe. The market believe that NIMs of banks would improve ahead following such increase of interest rates.

o       The VN-Index closed up 0.77% (+14.06 points), a solid performance given the continued drag from Vingroup stocks. VIC closed flat, while VHM declined 0.93%. Several other blue chips also ended lower, including HPG (-1.11%), FPT (-1.51%), and GVR (-2.45%). Market breadth on the HoSE was very strong by the close, with 213 gainers versus 118 decliners, improving further from the morning session.

o       Market liquidity improved, with total trading value on the HoSE reaching USD 1,120 mn (+16.2% DoD). SeveralETFs that benchmark to the local Indices performed quarterly rebalance today which added some more liquidity. Those rebalance did not really impact stock prices this round as we observed. Foreign investors turned net buyers, recording net inflows of USD 26.5 mn, focusing on HPG (+USD 15.0 mn), MSN (+USD 10.7 mn), and BID (+USD 6.9 mn). On the selling side, net outflows were concentrated in VIC (-USD 12.5 mn), ACB (-USD 4.1 mn), and MWG (-USD 4.1 mn).

SECTOR PERFORMANCE

o       Consumer Discretionary rose 2.6%, driven by solid gains in MWG (+3.8%) and FRT (+2.97%), as retail investors priced in a strong recovery in consumer confidence ahead of the Lunar New Year shopping season.

o       The Energy sector extended its rally, up 2.3%, supported by a sharp rise in oil prices. WTI crude climbed to USD 64/bbl (+12% YTD), lifting oil and gas stocks including PVD (+3.33%), PLX (+2.08%), and PVT (+1.22%). Besides, Murphy noticed that it recently explored new oil capacity in Vietnam.

o       Industrials gained 1.4% on expectations that FDI-related companies will benefit from supportive policies. Industrial park stocks outperformed, led by VGC (limit up), alongside strong advances in SZC (+2.88%) and SIP (+4.10%).