The focus of the market in today's trading session was shares of Phu Nhuan Jewelry Joint Stock Company (PNJ). At the end of the morning session, this stock only matched orders for more than 1.1 million shares and still had a floor price selling surplus of more than 22 million shares. In the afternoon session, bottom-fishing demand increased sharply, helping this stock absorb a large amount of the floor selling price.
In total, PNJ shares matched orders for more than 41.3 million units in today's session, recording a record matched order liquidity session, equivalent to more than 8% of outstanding shares, but the stock price still fell to the floor price of 30,750 VND/share. Most of the bottom-fishing orders for PNJ shares came from domestic investors. According to statistics, foreign investors net sold 533 billion VND of PNJ shares, equivalent to 18.7 million shares sold.
PNJ shares are in a strong correction trend after the incident of the former director of P-Lab appraisal company, a subsidiary of PNJ, involved in a diamond smuggling ring. Since that time, this stock has decreased by more than half of its market price. The capitalization of the leading jewelry company has also been blown away by more than 16,500 billion VND, causing them to lose their position as a billion-dollar company.
Returning to the diễn biến of the stock market, yesterday's strong recovery session brought some relief to investors after a series of adjustment days with many plunging sessions. However, many indicators show that this could only be a simple technical recovery session in a correction trend rather than the beginning of reversal diễn biến.
And in fact, adjustment pressure has been present right from the time the market opened in today's session (July 24). Weak cash flow and cautious trading sentiment caused VN-Index to reverse and decrease in the session.
Closing the trading session on July 24, VN-Index decreased by 13.27 points (-0.78%), to 1,686.11 points with 88 gainers and 227 losers. Total trading volume reached more than 589.6 million units, value 13,898.3 billion VND, down nearly 32% in volume and 30% in value compared to yesterday's session. Block transactions contributed nearly 93 million units, value 2,055 billion VND.
Thus, at the end of the past trading week, the VN-Index decreased by 101.34 points, equivalent to -5.66% and is the fourth consecutive week of decline after losing nearly 41 points and 34 points and nearly 10 points in the previous three weeks.
The noteworthy stocks in today's session are MWG when leading the decline in the bluechip group when losing nearly 5% to 68,000 VND, matching 3.61 million units. Followed by two stocks SSI and GVR when losing more than 3% to 22,800 VND and 26,200 VND respectively.
According to the assessment of TPS Securities Company, the index is still moving below important resistance zones, making the medium-term trend not significantly changed. Therefore, the current development is assessed to be more suitable for a technical recovery scenario in a correction trend than the beginning of a new upward trend.
TPS expects VN-Index to continue to expand the recovery momentum with the nearest target around the 1,770 point zone. However, investors should still maintain caution, prioritize keeping stock proportions at a balanced level and limit increasing positions according to FOMO sentiment, because the current upward trend still needs more time and confirmation of cash flow before it can become sustainable.
SHS Securities Company believes that the short-term trend of VN-Index is still decreasing. After a period of sharp decline, VN-Index recovered quite well in the support zone of 1,650 - 1,670 points, corresponding to the lowest price range in December 2025 and 4,2026 and when entering the short-term oversold zone. VN-Index has a signal of cutting off the decline and can expect to recover back to the price range of 1,730 - 1,750 points.
The market has not yet formed a new growth trend. Most industry groups with short-term trends are still decreasing accumulation. It is expected that in the coming sessions, the market will alternately recover in many codes after a period of alternating strong selling pressure; when supply pressure in the low price range decreases sharply after collateral release, short-term overselling. Meanwhile, supply pressure at high prices may increase again when heading towards a strong resistance zone.
