Humanoid robots produced by a Vingroup subsidiary. The conglomerate's shares soared over 6 per cent on Wednesday, leading the market's rallies. — VNS Photo Ly Ly Cao

HÀ NỘI — Indices extended gains on Wednesday, as many large-cap stocks reportedly rose sharply together, helping the VN-Index reclaim the 1,700-point psychological threshold after multiple sessions of choppy trading.

At the close, the VN-Index on the Hochiminh Stock Exchange (HoSE) added 24.06 points, or 1.43 per cent, to reach 1,704.68 points. 

The VN30-Index also advanced, rising 24.77 points, or 1.36 per cent, to 1,849.12 points.

The southern bourse recorded 165 stocks increasing and 139 decreasing. On HoSE, trading value reached nearly VNĐ14.4 trillion (US$547 million), down 25 per cent from the previous session.

On the Hà Nội exchange, the HNX-Index gained 2.23 points, or 0.83 per cent, to close at 271.68 points.

Vingroup (VIC) was the largest positive contributor to the VN-Index with 9.24 points, followed by Vinhomes (VHM) with 7.34 points. 

Other supporting names included Hoa Phat Group (HPG), Vinpearl (VPL), Vietcombank (VCB), FPT Corporation (FPT) and Vincom Retail (VRE), adding 0.73-1.2 points to the benchmark index.  

In contrast, the index faced offsets from some stocks, particularly in the banking industry.  

LPBank (LPB) led the downtrend, dropping 1.68 per cent, while VPBank (VPB), Sacombank (STB), Asia Commercial Joint Stock Bank (ACB) and Sahabank (SHB) decreased 0.9-1.75 per cent.  

Foreign investors continued their net selling spree, offloading over VNĐ88 billion on HoSE and VNĐ6.82 billion on HNX. 

Saigon - Hanoi Securities (SHS) said the current market valuation appears reasonable, and that if the market continues to fall, the level would become attractive for investors through market cap weighting. 

The firm also noted that many companies with solid fundamentals and ongoing growth were trading at a price-to-earnings ratio (P/E) of around 4-8, and with a relatively low price-to-book ratio (P/B), which could create room to consider investment.

In the near term, SHS said that the VN-Index remains in a weakened state after losing important support zones, including the 200-day moving average and the 1,750-point psychological level.

SHS's baseline scenario also suggested that if margin liquidation pressure keeps increasing, the VN-Index could retreat to 1,670–1,700, described as the lowest price zone in April 2026, before potentially rebounding toward 1,770–1,800. — BIZHUB/VNS