The stock market started June unfavorably as it continued to face adjustment pressure. The VN-Index continuously decreased in many sessions and at one point retreated to test the psychological threshold of 1,800 points before recovering slightly. However, the two gaining sessions last weekend did not create peace of mind for investors when liquidity fell to a very low level.
The market in the past week continued the state of "green shell, red core", the increase mainly came from the pulling force of some large-cap stocks. VN-Index closed the first week of June at 1,838.9 points, down 1.32% compared to the previous week.
Regarding the level of influence, the 10 stocks with the most positive impact brought a total of 16.26 points of increase for VN-Index in the last session of the week, with VIC stock contributing more than 11 points. In the opposite direction, BID, VCB and LPB are the stocks that put the most pressure but also only took 2.35 points of the general index.
Differentiated developments continue to dominate the market as most industry groups only fluctuate within a narrow range. The information technology group traded the least positively with a decrease of 1.47%, mainly due to adjustment pressure in leading stocks such as FPT (-1.45%), CMG (-2.12%) and ELC (-1.23%).
Industrial and financial groups are also putting significant pressure on the overall index as many stocks fell sharply above 1%. In the opposite direction, the real estate group is a rare bright spot when it increased by nearly 2%, led by the duo VIC (+3.4%) and VHM (+1.33%). While most of the remaining stocks in the industry are still submerged in red.
It can be seen that after a period of emotional trading, VN-Index is moving into a phase of accumulation correction and may still be under pressure to adjust to the price range of 1,750 - 1,800 points in June. However, the index will soon recover to continue accumulating in the range of around 1,800 - 1,900 points.
June is also the time when investors begin to assess business results expectations for the second quarter of 2026. The profit picture of listed companies is assessed to still maintain a positive trend, although the growth rate has significant differentiation between industry groups.
VNDIRECT Securities Company (CTCK) believes that the double-digit profit growth of the entire market in Q2/2026 is completely feasible as production and business activities of many economic sectors continue to improve. The main growth momentum comes from large-cap sectors such as real estate, securities, banking and oil and gas thanks to the low comparison of the same period last year, along with a more favorable business environment.
Although the overall market profit outlook is assessed positively, experts all believe that differentiation will continue to be a prominent feature in the second half of 2026.
The banking group is still a noteworthy choice thanks to positive credit growth and overall stable asset quality.In addition, the expected more stable interest rate level in the last months of the year will support the business operations of the industry.
Meanwhile, the securities group is also assessed to have more room for growth as market liquidity improves and the expectation to upgrade the Vietnamese stock market to emerging markets in September 2026 is increasingly clear.
In the context that the market is still strongly differentiated, investors should prioritize businesses with healthy financial foundations, good cash flow capacity, sustainable profit growth and leading positions in the industry. This will be a group of businesses with better cash flow attraction when Q2/2026 business results are gradually announced.
At the same time, in the context that the valuation level of many stock groups still does not fully reflect profit growth prospects, businesses that record business results exceeding expectations may continue to become the focus of cash flow in the second half of the year.
