After a strong correction session yesterday (January 15), experts are still optimistic about the stock market, saying that cash flow in the market still has very positive signals, proactively shifting to other industry groups, and in fact, market points are mostly dominated by a small number of large-cap stock groups.
This shows that the downward session is still not enough to confirm the reversal of the trend. The possibility of a correction is only technical and healthy, the VN-Index is likely to recover soon in the next sessions.
And that assessment was confirmed by the market in today's trading session (January 16). With support from Vingroup stocks and some bank codes, the VN-Index at one point regained the important psychological milestone of 1,900 points. However, caution after strong declines made investors not rush to bottom out at the end of the session.
At the end of the trading session on January 16, VN-Index increased by 14.33 points to 1,879.13 points. Market liquidity decreased compared to the previous trading session, with the matched order volume of VN-Index reaching more than 980 million shares, equivalent to a value of more than 33.3 trillion VND.
Regarding foreign investors' transactions, this group continued to net sell more than 1,126 billion VND on the HOSE exchange, focusing on PNJ (206.61 billion VND), VIX (153.99 billion VND), VRE (124.5 billion VND) codes.
Regarding the level of impact, VIC, VHM, FPT and VCB are stocks that still maintained green color and contributed more than 20 points. In the opposite direction, GAS, GVR, HDB and MCH are the stocks that have had the most negative impact on VN-Index with more than 5 points down.
The information technology industry is the group with the best growth momentum in the market with 6.66%, mainly from FPT (+6.9%), CMG (+3.98%), ELC (+6.36%) and DLG (+4.68%) codes. Following the recovery momentum are the real estate and non-core consumer sectors with increases of 2.88% and 2.26% respectively. Among them, outstanding stock codes such as VIC (+4.51%), VHM (+3.42%), VRE (+1.75%), DGW (+6.98%), MWG (+3.57%), PNJ (+6.11%) and FRT (+6.16%) must be mentioned.
In the opposite direction, the energy industry is the group that recorded a sharp decrease in the market with a decrease of 1.37%.
In a recent strategic report, Vietcombank Securities Company (VCBS) forecasts that VN-Index in 2026 will continue to aim to conquer a positive scenario at 2,279 points.
Thanks to the great attraction of large-cap stocks to cash flow from foreign investors and large domestic organizations, along with expectations for businesses implementing key national projects such as Vingroup... VCBS builds a positive scenario for VN-Index in 2026.
Furthermore, the fact that P/E is at an attractive level compared to the regional average, and the low interest rate level along with strong credit growth continues to be a favorable environment that will support abundant market liquidity and raise the P/E valuation level of industries to a new high.
Average liquidity in 2026 is forecast to reach 27,000-29,000 billion VND/session. Some factors contributing to liquidity include: reversal in the trading trend of foreign investors, shifting from strong net selling to net buying when Vietnam was upgraded by FTSE, and the trend of easing and relative weakening of the USD may reduce the net withdrawal process.
At the same time, a series of large-scale enterprises that have IPOed on the exchange such as TCBS, VCK, VPX and are planning IPOs such as Masan Consumer, Hoa Phat Nong Nghiep... will be a source of new liquidity contribution to the market. Factors expected to contribute about 1,000 - 3,000 billion VND more to average session liquidity in 2026.
