The stock market continued to be in a state of green shell and red core when opening. Although entering the continuous order matching session, the VN-Index fluctuated slightly and adjusted slightly, but the market quickly regained its upward momentum thanks to the main support from Vin's stock.
Despite selling pressure showing signs of increasing widely, the market still recorded the 5th consecutive gaining session.
At the end of the trading session on April 16, VN-Index increased by 19.18 points (+1.07%), to 1,819.83 points. HNX-Index increased by 3.77 points (+1.49%), to 256.49 points. The breadth of the whole market with red color was somewhat overwhelming when the selling side had 409 declining stocks and the buying side had 276 increasing stocks. Similarly, red color also dominated the VN30 basket with 18 declining stocks, 11 increasing stocks and 1 reference stock.
Market liquidity increased compared to the previous trading session, with the matched order trading volume of VN-Index reaching more than 819 million shares, equivalent to a value of more than 22,400 billion VND. HNX-Index reached more than 67.3 million shares, equivalent to a value of more than 1,2 billion VND.
Regarding foreign investors' transactions, this group continued to net sell more than 1,153 billion VND on the HOSE exchange, focusing on FPT codes (523.78 billion), VHM (462.97 billion), HCM (118.42 billion).
Regarding the level of influence, VIC, VHM, VPL and VPB are the codes that maintained green color and helped the index increase by 28.2 points.
The level of concentration of the Vietnamese stock market in some stock groups is an issue of concern in recent times. In fact, the large influence of large-cap stock groups has raised concerns about risks to the market.
According to experts, this is not just Vietnam's story but a global issue. In many developed markets such as the US, Australia or other countries, the level of concentration on some large stocks is also present. Therefore, the FTSE index has taken this into account to ensure stability and the important thing is not whether there is concentration or not, but how the market manages and assesses this risk.
In the sets of indices, including VN30, the centralized factor has been calculated and controlled. For example, the financial group currently accounts for a significant proportion, about 27%, showing that the sectoral distribution is still gradually becoming more diverse.
Compared to some markets in the region, the problem is not only in the capitalization scale but also in the free-float stock ratio and the accessibility of investors.
Accordingly, to reduce concentrated risk, the Vietnamese market needs to continue to expand its "depth" by adding quality stocks to the index basket, thereby creating more choices for investors and promoting portfolio diversification.
Regarding the market trend in the medium term, ABS Securities Company offers two scenarios for the market in the coming time. In the base scenario, VN-Index maintains the support zone around 1,600 points and moves in the range of 1,600 - 1,880 points. Investors can prioritize trading on the daily frame with stocks that maintain support or have deep discounts in the recent correction phase.
In a positive scenario, VN-Index soon confirmed surpassing the peak of 1,920 points after a period of accumulation. At that time, the safe price range of the market may expand to 2,184 points, and investors may increase the amount of available stocks.
In terms of valuation, after a strong adjustment in March, the P/E of VN-Index for the last 4 quarters has reached 14.05x on April 9, 2026, slightly higher than the 3-year average of this index at 13.83x. This is an attractive valuation considering the positive prospects of Q1/2026 business results to be announced soon.
