Market's performance on July 24. — Screenshot photo

HÀ NỘI — The market ended the week on a negative note, as buying demand weakened after an earlier rebound.

Trading momentum remained thin, with liquidity staying subdued and investor sentiment still guarded amid external risks. These risks included concerns related to potential US tax policy changes and the evolving global oil price environment.

From a technical perspective, the index has not regained key levels following the sharp decline earlier. Market indicators cited in the session showed that buying power remained weak and that capital had not returned decisively.

By the close, the VN-Index on the Hochiminh Stock Exchange (HoSE) dropped 13.27 points, or 0.78 per cent, to 1,686.11 points. 

The market’s breadth returned to the negative territory, with 88 advancing stocks and 227 declining stocks. 

Liquidity totalled more than 589.6 million shares, with a transaction value of nearly VNĐ14 trillion (US$528 million), down around 30 per cent from the previous session. 

Major-cap groups continued to pressure the market. The session saw declines such as Mobile World Investment Corporation (MWG) down nearly 5 per cent, leading the drop among large-cap names. 

SSI Securities (SSI) and Vietnam Rubber Group (GVR) both lost more than 3 per cent. Other large names, including Vinhomes (VHM), SeABank (SSB), Sahabank (SHB), LPBank (LPB), Techcombank (TCB) and FPT Corporation (FPT), declined in the 1.5 per cent to 2.8 per cent range.

Meanwhile, some large caps were exceptions. Petrovietnam Refining and Petrochemical Corporation (BSR) rose 2.8 per cent and Sacombank (STB) gained 2.1 per cent.

The standout of the session was Phu Nhuan Jewelry (PNJ). In the early trade, PNJ matched only about 1.1 million shares and still had a large sell overhang at the floor price, reported as more than 22 million shares remaining at that level.

However, buying demand surged in the afternoon, absorbing much of the sell volume. By the close, PNJ matched over 41.3 million shares, the highest recorded volume for the stock to date, equivalent to more than 8 per cent of its outstanding shares.

Even so, PNJ closed at the floor price of VNĐ30,750 per share.

On the Hanoi Stock Exchange (HNX), the HNX‑Index fell 8.08 points to 272.99 points.

Foreign investors continued to net sell. On HoSE, they offloaded over VNĐ1.3 trillion. PNJ was the strongest sell target, alongside VIX Securities (VIX), VPBank (VPB), VHM, TCB and STB.

The report said that with the index still falling and liquidity down, many investors appear to be watching rather than deploying strong capital. In the short term, market action could continue around 1,670–1,680 points.

If buying returns and demand improves at that zone, the market may see a recovery. If buying power stays weak, selling pressure is likely to persist in upcoming sessions. — BIZHUB/VNS