Shares of BIDV, a major bank, were the top negative contributor to the VN-Index, trading below their reference price throughout the 10/2 session and closing at the floor price of 47,100 VND. Intense selling pressure remained unabsorbed, with nearly 2 million units awaiting floor price matching at the session's close.
Similarly, two prominent oil and gas companies, PV GAS and Petrolimex, reversed from earlier gains to hit their floor prices, closing at 107,700 VND and 53,300 VND, respectively. The combined outstanding sell volume at floor price for these two stocks exceeded 3 million units.
In the rubber sector, GVR extended its downward trend, losing 7% and falling below 36,000 VND. This stock was the 4th largest negative contributor to market performance, subtracting over two points from the VN-Index.
The widespread selling pressure from leading industry stocks led to a market dominated by declines. On the Ho Chi Minh City Stock Exchange (TP HCM), 216 codes fell, double the number of rising stocks. The VN30 basket mirrored this trend, with 16 declining codes against 8 rising ones.
Despite this, the index representing the TP HCM exchange showed little movement compared to the start of the week, thanks to the positive momentum of Vingroup-related stocks. VIC hit its ceiling price, and VHM accumulated a 6,6% gain, together contributing over 20 points to the overall index.
As a result, the VN-Index closed the session with a decline of less than one point, trading around 1,754 points. This marked the fifth consecutive session of decline for the index.
Liquidity on the TP HCM exchange reached over 28,400 billion VND, an increase of over 8,000 billion VND from the previous session. The three leading stocks by matching order value were all from the banking sector: MBB, BID, and VCB.
A significant positive signal came from foreign investors, who broke a six-session net selling streak and returned to disburse over 760 billion VND. MBB became the primary focus for foreign buying, with over 20 million shares, followed by DPM, KDH, and MWG.
In a report published on the afternoon of 10/2, SSI's analysis team predicted market liquidity would slow in the final week before the Lunar New Year holiday, with a potential recovery afterward. The VN-Index is also likely to recover after recent weeks of adjustment, driven by the positive impact of the 2025 year-end business results announcement season.
According to SSI, historical data indicates a relatively high probability of market gains around the Lunar New Year period, specifically 87,5% one week before and 75% half a month after the holiday. This suggests attractive investment opportunities in the coming month.
Additionally, the market continues to receive support from a positive profit outlook for 2026. Several banks, retail businesses, and real estate companies have announced preliminary plans targeting profit growth of 20-30%. "Cooling overnight interest rates in recent weeks could also support market sentiment in the short term," the SSI analysis team wrote.
Phuong Dong
