The recovery of the state-owned stock group listed on the stock market in the past time, after Resolution 79-NQ/TW was issued, has contributed to pulling the VN-Index to surpass the 1,900 point mark. However, after the impressive series of increases above, entering this trading week, profit-taking pressure has appeared and become even stronger.
In today's trading session (January 21), VN-Index opened down more than 10 points and the subsequent decline continued to be widened. The downward pressure from US stocks also negatively impacted the psychology of domestic investors, leading to strong selling movements.
Strong selling movements appeared mainly at 2 pm, causing VN-Index to be pushed back to the 1,860-point mark with a 32-point decrease. However, in the final minutes of the afternoon session, bottom-fishing cash was pushed in, helping the index record a decrease below 2 digits.
At the close of the session on January 21, VN-Index decreased by 8.34 points (equivalent to 0.44%) to 1,885.4 points. Red color appeared densely on the HoSE electricity board with 346 decliners compared to 96 gainers.
Market liquidity improved significantly compared to the previous session. There were nearly 1.19 billion shares matched on the HoSE exchange, equivalent to a transaction value of 36,400 billion VND.
After a strong net selling session of nearly 1,700 billion VND yesterday, today foreign investors "cooled down" supply pressure with a net selling value of just over 300 billion VND. The top 3 codes that were net sold the most were VNM, VCB, VIC.
According to statistics, the group of stocks that caused the index to lose the most points are VNM, VCB, VPB, GEE, VIC, BCM, HPG, MBB... Conversely, VN-Index received support from GAS, STB, BSR, CTG, DGC codes.
After a strong and decisive increase in the first trading sessions of 2026, the Vietnamese stock market in the past week has entered a clearer state of struggling. This development reflects a familiar rule of the market after acceleration phases: profit-taking pressure appears, but not panic but leans towards the process of "testing" supply and demand proactively.
VN-Index recorded alternating correction phases, but the positive point is that selling pressure tends to gradually weaken as the index retreats to the short-term support zone. Liquidity is maintained at a high level, averaging over 40,000 billion VND per session, showing that the market is shifting from a hot upward state to a accumulation phase, thereby creating a basis for further steps.
VCBS Securities Company put forward the view that the market is under increasing profit-taking pressure from large-cap stocks, causing the general index to be under trembling pressure in the 1,900-point zone. However, cash flow still shows excitement when constantly searching for investment opportunities and rotating between industry groups that have not had strong growth momentum in the past time such as seaports and consumer goods.
Before the current developments of the market, VCBS recommends investors to closely monitor market developments in the coming sessions. At the same time, they need to be more cautious when opening new purchases and prioritize taking advantage of fluctuations in the session for short-term surfing trading targets for stocks already available in the portfolio.
SHS Securities Company also gave an assessment that the short-term trend of VN-Index maintains growth above the nearest support zone around 1,850 points, strongly supporting more than 1,800 points. After a period of strong increase, the index is at risk of creating a short-term peak in the 1,900-1,920 point zone and under pressure to retest the peak price zone in 2025 after surpassing it. Short-term positions will prioritize selling at high prices, restructuring, and reducing the proportion of stocks with poor business results, speculative nature, and high leverage.
