HÀ NỘI — The stock market saw sharp volatility on Tuesday afternoon, with heavy selling pressure dragging the VN-Index down by more than 23 points at one stage before trimming losses by the close.

The benchmark index on the Hochiminh Stock Exchange ended down 15 points, or 0.78 per cent, at 1,912.93, while the HNX-Index extended its gains to seven sessions in a row, edging up 0.1 per cent to 259.5.

Oil and rubber stocks were the biggest drags on the market, with many shares hitting floor prices or nearing the daily loss limit. 

Major oil and gas stocks, including Binh Son Refinery (BSR), Petrolimex (PLX), PetroVietnam Drilling and Wells Service (PVD) and Petrovietnam Transportation (PVT), closed at floor prices, while rubber firms Vietnam Rubber Group (GVR) and Phước Hòa Rubber (PHR) also plunged sharply by 7 per cent.

Other energy-related shares such as PetroVietnam Technical Services (PVS), PV Oil (OIL), PVP and Pacific Petroleum Transportation (PVC) posted steep losses of more than 6 per cent.

Oil shares lost an average of 6.5 per cent while the materials sector decreased by 2.5 per cent.

The property sector increased by 0.2 per cent on average, with Vingroup-related stocks recovering toward the end of the session, helping narrow market losses. Vinhomes (VHM) and Vincom Retail (VRE) rose by more than 1 per cent, while Vingroup (VIC) closed slightly above the reference price.

Liquidity continued to increase significantly compared to previous sessions, with total trading value exceeding VNĐ34 trillion (US$939 million) worth of shares traded on both exchanges.

Foreign investors extended their net-selling streak with net outflows of more than VNĐ800 billion. Financial stocks faced the strongest foreign selling pressure, led by Military Bank (MBB), SSI Securities (SSI), Asia Commercial Bank (ACB), Vietnam Prosperity Bank (VPB) and Vietinbank (CTG).

According to analysts at Saigon – Hanoi Securities JSC (SHS), the VN-Index is maintaining its short-term uptrend above the psychological support level of 1,900 points, supported by gains in large-cap stocks.

SHS said investor sentiment had been boosted by expectations surrounding Government plans to redefine the role of State-owned enterprises during the 2026–30 period, which could help unlock resources at major corporations and create new investment opportunities.

“The market is expected to face continued volatility as the benchmark tests previous peaks, while the VN30 is attempting to break above the 2,080-point level,” analysts said in a note.

The brokerage recommended investors maintain balanced portfolios and focus on fundamentally strong, industry-leading stocks in strategic sectors with solid growth prospects. — BIZHUB/VNS