I. MARKET ANALYSIS OF THE UNDERLYING STOCK MARKET ON SEPTEMBER 24, 2025
– Key indices rebounded strongly during the September 24 trading session. Specifically, the VN-Index rose by 1.36%, reaching 1,657.46 points, while the HNX-Index also increased by 1.56%, closing at 277.28 points.
– Market liquidity significantly improved compared to the previous session’s low. Trading volume on the HOSE floor surged by 43.4%, exceeding 942 million units. Meanwhile, the HNX recorded 91 million matched units, a 60.4% increase.
– Foreign investors continued to net sell, with a value of over 1.5 trillion VND on the HOSE and 42 billion VND on the HNX.
Foreign Investors’ Trading Value on HOSE, HNX, and UPCOM by Date. Unit: Billion VND
Net Trading Value by Stock Code. Unit: Billion VND
– The September 24 session began on a challenging note, with the VN-Index quickly retreating to around 1,620 points within the first half-hour. Subsequent recovery efforts were insufficient to turn the index green in the morning session. However, the tide turned dramatically in the afternoon. A strong comeback by large-cap stocks sparked a widespread positive effect. The VN-Index steadily widened its gains, closing at the session’s high of 1,657.46 points, up 22.2 points from the previous session.
– In terms of influence, 9 out of the top 10 contributors to the VN-Index were banking stocks, collectively adding nearly 12 points (the remaining stock was HPG). Conversely, VHM was the only significant drag, subtracting 0.65 points from the index.
Top Stocks Impacting the Index. Unit: Points
– The VN30-Index ended the session with a gain of over 32 points, reaching 1,853.48 points. Buyers dominated with 27 advancing stocks, only 2 declining, and 1 unchanged. HDB stood out with a vibrant purple hue, followed by VPB, TCB, and VIB, all rising above 3%. On the flip side, VHM and VIC struggled, declining by 0.7% and 0.1%, respectively, while GAS remained flat at the reference level.
Green returned across all sectors by the end of the session. The financial sector contributed the most to the market’s recovery, with standout performers including HDB hitting the ceiling, VPB (+5.69%), SHB (+2.06%), TCB (+3.47%), MBB (+1.71%), TPB (+2.34%), STB (+2.89%), ACB (+2.56%), VIB (+3.27%), SSI (+2.16%), VND (+3.82%), SHS (+5.71%), and VCI (+4.18%).
The real estate and industrial sectors also showcased notable highlights, such as CEO (+8.43%), DIG (+5.37%), PDR (+5.5%), NVL (+3.19%), HDC (+4.84%), VRE (+2.47%), NLG (+2.56%), VCG (+3.01%), GMD (+1.73%), VSC (+2.21%), HHV (+2.67%), VGC (+2.05%), and CII and CDC reaching their upper limits.
The VN-Index surged after retesting the August 2025 lows (equivalent to the 1,600-1,630 range). In the upcoming sessions, the index needs to break above the Middle line of the Bollinger Bands, accompanied by trading volume exceeding the 20-day average, to solidify the recovery trend.
II. PRICE TREND AND VOLATILITY ANALYSIS
VN-Index – August 2025 Lows Serving as Strong Support
The VN-Index rebounded sharply after retesting the August 2025 lows (equivalent to the 1,600-1,630 range).
In the upcoming sessions, the index needs to break above the Middle line of the Bollinger Bands, accompanied by trading volume exceeding the 20-day average, to solidify the recovery trend.
HNX-Index – Breaking Above the Middle Line of the Bollinger Bands
The HNX-Index ended its prolonged decline with a strong session, breaking above the Middle line of the Bollinger Bands. The index is likely to continue oscillating around this level as a Triangle pattern forms.
Capital Flow Analysis
Smart Money Movement: The Negative Volume Index of the VN-Index is above the 20-day EMA. If this condition persists in the next session, the risk of a sudden downturn (thrust down) will be mitigated.
Foreign Capital Movement: Foreign investors continued to net sell in the September 24 session. If foreign investors maintain this action in the upcoming sessions, the outlook will become more pessimistic.
III. MARKET STATISTICS ON SEPTEMBER 24, 2025
Economic Analysis & Market Strategy Department, Vietstock Consulting Division
– 17:13 September 24, 2025
September 24th Session: Foreign Investors Continue Net Selling Spree, Offloading Nearly VND 1.6 Trillion – Which Stocks Took the Biggest Hit?
In the afternoon session, CII emerged as the most heavily net-bought stock across the entire market, with a remarkable value of 121 billion VND.
Foreign Investors Dump Nearly 600 Billion VND in Blue-Chip Stock on September 23rd
After several robust selling sessions, foreign trading activity has stabilized, with net selling now limited to a modest 7 billion VND across the entire market.
Capital Vanishes from the Stock Market
Today’s stock market (September 23rd) remained in a state of stalemate, with the VN-Index hovering narrowly around the reference point. Investor caution prevailed, leading to a noticeable contraction in trading volume and a significant decline in liquidity compared to previous sessions.
Technical Analysis for the Afternoon Session of September 23: Anticipating the August 2025 Low Revisited
The VN-Index halted its downward trend as it approached the August 2025 low (around 1,600-1,630 points). Meanwhile, the HNX-Index experienced intense volatility, forming a Long Upper Shadow candlestick pattern.
Market Liquidity Weakens as Capital Flows Out of Equity Securities
In recent weeks, cash flow has shown signs of weakening. Despite this trend, certain sectors continue to attract investment. Conversely, the financial sector, particularly stocks, has experienced significant outflows.
