VN-Index retreats after rebound, PNJ shares fall to the floor price - Photo: Government Newspaper
While the VN-Index faced downward pressure from large-cap stocks and fell below 1,865 points, the HNX-Index maintained its upward momentum thanks to the strong performance of the securities sector.
At the close of trading, the VN-Index fell 4.27 points, or 0.23%, to 1,862.08 points; the HNX-Index rose 0.84 points, or 0.27%, to 307.57 points. The market leaned towards selling pressure, with 411 stocks declining and 304 stocks rising. The VN30 basket alone recorded 20 declining stocks, 6 rising stocks, and 4 unchanged stocks, reflecting the continued selling pressure among large-cap stocks.
Liquidity decreased compared to the previous session. On the HOSE, trading volume reached over 610.7 million shares, equivalent to a trading value of over 15,656.6 billion VND. On the HNX, over 91 million shares changed hands with a value of over 1,623.4 billion VND.
The session's developments showed a return of buying pressure at the beginning of the afternoon, helping the VN-Index narrow its losses. However, selling pressure on large-cap stocks persisted, causing the index to quickly return to a sideways trading pattern and close in the red.
In terms of impact, GAS, LPB, BID, and VPL were the stocks with the most negative effect on the VN-Index, deducting more than 2.59 points from the index. Conversely, HVN, VHM, VCK, and MCH maintained positive performance, contributing approximately 3.1 points, thus preventing the market from falling further.
Meanwhile, the HNX-Index performed more positively, supported by securities and banking stocks. MBS rose 4.88%, SHS rose 2.66%, NVB rose 3.18%, and VIF rose 2.5% were the stocks contributing most positively to the index.
By sector, non-essential consumption was the sector with the sharpest decline in the market, falling by 1.42%. Besides VPL (down 1.38%), MWG (down 1%) and FRT (down 1.31%).
The VN-Index's correction with declining liquidity shows that investor caution persists after the previous rally - Photo: Government Newspaper
Notably, PNJ became the center of attention when its share price plummeted by the maximum allowed limit of 6.97% to 58,700 VND/share, with no buyers and over 12 million shares remaining unsold at the floor price at the close of trading, bringing its market value to its lowest level since the beginning of 2026.
Strong selling pressure on PNJ emerged after the market received news that the Thanh Hoa Provincial Police Investigation Agency had dismantled a transnational diamond smuggling ring and indicted 22 defendants.
According to information from PNJ, Mr. Dang Ngoc Thao, former Director of PNJ Appraisal Company Limited (P-Lab), is under investigation in connection with the case. PNJ affirms that this is a matter of personal legal responsibility, and the company respects the investigation process and is ready to cooperate with authorities when requested.
In the case, Mr. Dang Ngoc Thao is accused of colluding with other individuals to legitimize smuggled diamonds by altering identification codes and issuing new inspection certificates before putting the products on the market.
Returning to market developments, the utilities sector declined by 1.31%, with many stocks under selling pressure such as GAS down 2.59%, REE down 1.71%, PGV down 1.32%, BWE down 1.3%, and HDG down 3.38%. Meanwhile, the energy sector fell by 1%, with BSR down 0.8%, PLX down 1.75%, PVS down 1.04%, and PVD down 0.61%.
Conversely, real estate was a rare bright spot in the market, rising slightly by 0.03%, mainly thanks to VHM's 0.8% increase and SJS's 0.42% increase.
Regarding foreign investor transactions, foreign investors continued to net sell over VND 802.83 billion on the HOSE, focusing on TCB (VND 89.81 billion), MSN (VND 70.54 billion), VIC (VND 63.7 billion), and GEX (VND 62.97 billion). On the HNX, foreign investors net bought over VND 31.35 billion, mainly in SHS (VND 36.33 billion), MBS (VND 19.58 billion), VFS (VND 1.07 billion), and MST (VND 0.28 billion).
The VN-Index correction with declining liquidity indicates that investor caution persists after the previous rally. Capital flows tend to be strongly diversified across different stock groups, while selling pressure is concentrated on a few large-cap stocks and those affected by specific news, such as PNJ.
Nevertheless, the fact that the HNX-Index continues its upward trend and the real estate sector remains in positive territory suggests that capital has not withdrawn from the market but is instead shifting to stocks with supporting narratives.
In the short term, the movement of capital and the ability to hold the support zone around 1,850 points will continue to be the decisive factors determining the trend of the VN-Index.
Source: https://vtv.vn/vn-index-lui-buoc-sau-nhip-hoi-10026070318343111.htm
