The stock market entered today's trading session (April 21) with the pair of Vingroup stocks VIC and VHM increasing sharply from early morning, continuing to help VN-Index break through and surpass 1,860 points.
However, selling pressure gradually increased in the afternoon session, although not too large but occurring widely, causing the indices to reverse direction.
Closing the trading session on April 21, VN-Index decreased by 3.63 points (-0.20%), to 1,833.48 points. On HOSE, there were 99 gainers and 227 losers. Total trading volume reached more than 866.6 million units, value 24,947.2 billion VND, an increase of nearly 26% in volume and 15% in value compared to yesterday's session.
Block transactions contributed more than 115 million units, worth 3, 113 billion VND. Foreign investors' transactions were a minus point when net selling was about 421 billion VND.
According to investors' assessment, the upward momentum of VN-Index in recent sessions is being led by some large-cap stocks, especially the Vingroup group, and cash flow has not had a significant spillover to other industry groups.
In addition, the fact that the market had previously had four consecutive weeks of recovery and increased by a total of more than 140 points from the beginning of the month to now and touched near the resistance of 1,840-1,850 points after the first session of yesterday, so the adjustment was predicted in advance.
In today's trading session, the two stocks that support the market, VIC and VHM, which at one point increased by 4-5% in the session, quickly cooled down, closing VHM only slightly increased by 0.5%, while VIC increased slightly by more than 1% to 193,700 VND. The most notable Bluechip is still STB, although losing its purple color, it still increased sharply by 5.5% to 67,700 VND, matching more than 14.1 million units.
Other stocks in the VN30 group have differentiated and all have slightly fluctuated in price, with HPG being the highlight of liquidity when nearly 100 million units were matched, SHB followed with nearly 49 million units.
In the newly updated report, KBSV Securities Company has adjusted its forecast in a more cautious direction. KBSV lowered its forecast for full market profit growth in 2026 to 11% compared to the same period, lower than the 15.7% in the previous report. This adjustment reflects a more cautious view on new factors arising in the first quarter of 2026, especially geopolitical tensions in the Middle East, leading to pressure on inflation, exchange rates and interest rates.
In the basic scenario, KBSV expects geopolitical tensions to gradually cool down by the end of Q2/2026, leading to an adjustment trend in oil prices, thereby reducing the negative impact on global economic growth and financial markets in the second half of the year.
The double-digit growth rate is still assessed as relatively positive in the context of the Government maintaining economic promotion policies. To realize the GDP growth target of about 10%, fiscal policy is expected to play a key role, while monetary policy faces greater pressure to both stabilize the macroeconomy and support the liquidity of the banking system.
KBSV believes that the deposit interest rate level may continue to increase by 0.5-1% from the end of the first quarter, maintaining at a high level in the second quarter before starting to cool down significantly from the beginning of the third quarter, when external pressures are gradually relieved.
For the stock market, KBSV adjusted the reasonable point range of VN-Index in 2026 to 1,950 points, lower than the 20,000 point level given at the beginning of the year, but still corresponding to an increase of about 15% compared to the present. This adjustment comes from the expectation of slower corporate profit growth and higher interest rate pressure than initially forecast.
