In the morning session, the market traded cautiously, fluctuating around the reference level. However, selling pressure unexpectedly intensified in the mid- and small-cap real estate sectors, then spread to many other sectors, causing the VN-Index to plummet. At one point, the index fell by more than 31 points to 1,881.87 points, breaking through the MA20 support level (the 20-day moving average – a technical indicator reflecting short-term price trends).
Entering the afternoon session, the lingering effects of the sell-off continued to push the VN-Index below 1,860 points, a drop of 53.7 points compared to the reference level. However, bargain-hunting demand quickly emerged at lower price levels, especially in the real estate and oil and gas sectors. Along with the steady gains of VIC and VHM, the index rebounded by more than 54 points from its intraday low to return to positive territory.
At the close of trading, the VN-Index edged up 0.3 points to 1,913.23 points. Although the number of declining stocks still outnumbered rising stocks by 239, approximately three times the number of rising stocks (79), the late-session recovery showed that defensive buying pressure remained present.
Total liquidity on the HOSE reached nearly 1.2 billion shares, equivalent to a trading value of VND 31,790 billion. Compared to the previous session, volume increased by 19% but value decreased by 2%, reflecting that capital flows were mainly focused on bottom-fishing in small and medium-sized stocks.
The real estate sector became the focal point of market volatility. A series of stocks such as DXG, NVL, DIG, PDR, HDC, TCH, HHS, DXS, and CII all hit their lower limit during the session. However, bargain hunting at the end of the session helped most stocks significantly narrow their losses, and some even reversed course to gain price.
Nevertheless, selling pressure remained evident as many real estate stocks continued to fall sharply at closing. HDC, CII, DIG, and HTN dropped over 5%; NVL and EVG fell more than 4.5%; SCR, KDH, LDG, DXS, and VPH lost over 3%. PDR narrowed its decline to nearly 2.7%.
Not only real estate, but the oil and gas sector also recorded a strong reversal. BSR , after hitting the floor price, turned around and rose 2.09% to 31,800 VND/share with a trading volume of over 27.3 million units. PLX, which at one point nearly touched the floor price, closed up 4.4%, becoming the strongest performing stock in the VN30 basket. GAS also attracted attention, closing up 3.7% at its highest level of the day after falling more than 6%.
The natural rubber sector also showed significant resilience. PHR surged to its ceiling price of 69,900 VND/share; GVR reversed from its floor price to increase by 2.87%; and DPR rose by more than 4%. Only a few stocks, such as HRC, continued to hit their floor price after a strong upward trend.
Meanwhile, the banking sector remained under downward pressure, although the decline narrowed compared to the morning session. Besides LPB, only TPB and VCB maintained slight gains, NAB remained unchanged, while most other stocks continued to fall. HDB saw the sharpest decline in the group, falling 3.37%; MSB significantly narrowed its losses to 0.35% after having lost over 4% in the morning session.
The securities sector also remained in the red, but selling pressure eased considerably as no stocks fell by more than 3% like in the morning.
In terms of liquidity,SHB led the entire market with over 105.6 million shares changing hands, followed by VIX with 50.9 million units. Real estate stocks such as DXG and NVL were also among the most actively traded.
On the HNX exchange, the situation was similar to the HOSE, with the market experiencing strong fluctuations at the beginning of the session before gradually recovering. At the close, the HNX-Index increased by 1.83 points, equivalent to 0.71%, to 261.33 points. Trading volume reached nearly 89.6 million shares, with a value exceeding 1,600 billion VND.
CEO and SHS continued to be the two most liquid stocks on the HNX exchange but still closed lower. Meanwhile, PVS successfully reversed its trend, rising 3% to 41,200 VND per share.
On UPCOM, trading was less active. The UPCOM-Index fell 0.99 points to 125.2 points. OIL, although narrowing its decline, still lost more than 3%, contrary to the recovery trend of the oil and gas sector on the two listed exchanges.
From a technical perspective, the VN-Index's strong recovery after breaking through the MA20 indicates that demand protecting the 1,860–1,880 point range remains quite strong. However, the market breadth heavily skewed towards the downside, coupled with high liquidity during the fluctuations, suggests that short-term profit-taking pressure remains significant, meaning the market may continue to experience strong volatility in the coming sessions.
Source: https://baotintuc.vn/thi-truong-tien-te/vnindex-dao-chieu-sau-cu-lao-doc-hon-50-diem-20260520165137272.htm
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