Market outlook before May 5th: VN-Index holds firm around 1,850 points, oil and gas and industrial park sectors receive attention.
The morning session on May 5th is likely to open in a mixed state, with the VNINDEX remaining anchored around its peak of 1,854.1 points, while the HNXINDEX and UPCOMINDEX show contrasting movements. This context occurs as foreign investors continue to net sell for the seventh consecutive session, creating volatility pressure in large-cap stocks right from the start of the session.
Market overview before the session
At the close of trading, the VNINDEX reached 1,854.1 points, down 0.0 points (-0.0%). The HNXINDEX retreated to 250.0 points, down 0.6 points (-0.2%), while the UPCOMINDEX increased 0.2 points (+0.2%) to 127.7 points. This movement reflects a tug-of-war situation, with capital tending to shift quickly between sectors rather than spreading evenly.
Outstanding stock group
The most notable focus came from BSR after Binh Son Refinery reported a net profit after tax of VND 8,265 billion in the first quarter of 2026, a 20.7-fold increase compared to the same period last year. Besides that, GVR continued to attract attention despite strong downward pressure, while NVL continued to put pressure on overall sentiment with a maximum price drop.
| Code | Floor | Developments | Note |
|---|---|---|---|
| BSR | HOSE | +7.0% | First-quarter profits surged. |
| GVR | HOSE | +7.0% | Received attention despite significant fluctuations. |
| DTT | HOSE | +7.0% | Included in the group of strong gainers. |
| Raw materials | HOSE | -6.8% | Touch the floor |
| HTN | HOSE | -6.8% | Deep discount |
| VNE | HOSE | -6.9% | Belongs to the group experiencing a sharp decline. |
Liquidity and cash flow
Pre-session liquidity on the HOSE showed a concentration in a few leading stocks, with SHB reaching 62.4 million units, NVL 35.2 million units, and HPG 32.4 million units. This indicates that capital flows are still selective, prioritizing stocks with unique stories or those experiencing significant volatility.
Key technical signals
Technically, many stocks are maintaining an upward trend with relatively high composite scores, notably SJG at 81.6 points, PSI at 81.4 points, and VHC at 77.6 points. In addition, VHM at 74.5 points, HDB at 73.8 points, and MWG at 72.6 points are also among the stocks with relatively good technical foundations.
| Code | Overall score | EMA trend | MACD trend |
|---|---|---|---|
| SJG | 81.6 | price increase | price increase |
| PSI | 81.4 | price increase | price increase |
| VHC | 77.6 | price increase | price increase |
HNX and UPCOM
Outside of the HOSE, stocks like DXP and HTC on the HNX, along with DNH and VIM on UPCOM, show a high degree of divergence. In the short term, these are still selective rallies rather than signals of a widespread market increase.
| Floor | Index | Featured Code | Developments |
|---|---|---|---|
| HNX | 250.0 | DXP | +8.4% |
| HNX | 250.0 | HTC | +9.7% |
| UPCOM | 127.7 | DNH | +15.0% |
| UPCOM | 127.7 | VIM | +15.0% |
Outlook ahead of the May 5th session
The 1,850-point level of the VNINDEX continues to be a near-term support level to watch, while 1,860-1,865 points are a notable short-term resistance zone if early-session trading improves. The most likely scenario is a sideways market around the reference point, with rapid rotation between leading groups, especially oil and gas, industrial parks, and some stocks with strong technical fundamentals.
The biggest risk currently comes from net selling pressure from foreign investors and negative developments in some real estate stocks, with NVL being a point to watch closely. Conversely, BSR is offering its own supporting story, potentially playing a leading role in guiding capital flows as the market needs a new equilibrium.
This data is for analytical and informational purposes only; it is not investment advice.