The stock market continued to adjust when opening today's trading session May 5 and at one point VN-Index was pushed down below the 1,850 point mark with red color covering the electronic board. In that context, the main support of the market reappeared and were still Vingroup stocks.
The strong increase of the Vingroup group throughout the trading session and unexpected cash flow coming to the oil and gas group at the end of the day created more momentum to help VN-Index get closer to the psychological zone of 1,900 points.
Closing the trading session on May 5, VN-Index increased by 20.79 points (+1.12%), to 1,874.75 points. Total trading volume reached more than 766.7 million units, worth 21,397.5 billion VND.
The focus is still on Vingroup's stocks when they all have high increases, with VHM +6.5% up to 151,200 VND, VRE +4.5% up to 35,200 VND, VIC +3.54% up to 219,500 VND, VPL +3.3% up to 88,000 VND. In total, contributing more than 23 points to VN-Index.
The group of mid-cap and small-cap stocks with highlights in some oil and gas industry stocks with ASP hitting the ceiling price at 6, 510 VND, PVT +6.7% up to 23, 750 VND, BSR +5.9% up to 26, 750 VND, PVP +5.8% up to 19, 050 VND, PVD +3.9% up to 33,000 VND.
Meanwhile, NVL is still the focus of selling and continues to be at the floor for the second consecutive session, losing 6.8% to 17,800 VND, matching more than 33.3 million units and having a surplus selling price of more than 44.6 million units.
The internal market picture shows a clear differentiation. In the context of cash flow being drawn into only a few key stock groups, market liquidity has hardly increased even though the index recovered 180 points in April.
Analysts from MBS Securities Company believe that large cash flow has not yet entered the market, and predict that the cash flow trend is likely to continue to be low or decrease further when the market returns to trading after the long holiday and it will take another week to clarify the trend.
MBS's analysis team added that in the context of the market lacking supporting information, market liquidity is likely to remain low in increasing sessions but will increase in adjusting sessions.
The Q1/2026 business results reporting season as well as the general meeting of shareholders are almost in the final stage without creating a significant effect, cash flow after the holidays has even less motivation to take risks, especially when the VN-Index is in the old peak and there are fewer opportunities in the market stock group. Some stock groups have the ability to retain cash flow such as: Vingroup, Construction & Building Materials, residential real estate, banking...
After 6 consecutive weeks of increase, the VN-Index has entered the historical peak around 1,900 points. The fact that liquidity has not increased or market breadth shows that the increase in stocks not following the maximum increase in the index may be a curbing factor for the market's recovery prospects. In addition, the absence of spillover to traditional leading groups such as banking, securities or steel is a major limitation.
MBS continues to forecast that a scenario of fluctuation or technical adjustment is necessary for cash flow to implement "structural profit-taking pressure" from the Vingroup group to other industry groups. This is not a sign of the end of the trend but a necessary break to accumulate momentum for the process of surpassing the peak of 1,900 points in the long term.
The market is entering a "information trough" after the shareholders' meeting season, and becoming more sensitive to real economic data.Inflationary pressure is becoming the biggest barrier to all expectations of monetary policy easing in the short term.Focusing on stocks with individual growth potential instead of betting on the general index will be key to protecting achievements in this "green shell, red heart" period.Caution at the 1,900 point zone is needed to wait for a clearer confirmation of the trend in May," recommended MBS experts.
