PNJ shares continue to be the focus of sell-offs.
Adverse news caused investors holding PNJ shares to lose confidence and sell off en masse, pushing the stock to its floor price with over 19 million units offered for sale at the floor price.
At the close of the morning trading session on July 23, the VN-Index fell 7.83 points to 1,660.7 points (-0.47%) compared to the previous session. Similarly, the HNX-Index decreased by 271.93 points (-1.29%), equivalent to 3.56 points, and the UPCo M-Index decreased by 124.21 points (-0.45%), equivalent to 0.56 points.
Market liquidity reached VND 8,000.46 billion, with 346,000 shares traded. Across the sector, 45 stocks increased, 267 decreased, and 36 fell to their reference price.
PNJ shares continued to face significant selling pressure following a series of unfavorable news, falling to the floor price of 35,050 VND/share, with over 19 million shares remaining unsold at the floor price.
The banking sector was dominated by red, with ACB (-2.01%), MBB (-2.91%), VCB (-2.59%), SHB (-2.56%), VPB (-3.8%), and HDB (-2.13%). Similarly, the financial services sector saw declines of VIX (-0.41%), SSI (-1.99%), HCM (-3.56%), VND (-3.31%), SHS (-2.6%), and VCI (-3.77%).
The observed chemical groups were DGC (-6.91%), DCM (+0.17%), GVR (-2.95%), BFC (-3.6%), DPR (-2.79%), and BFC (-3.6%).
The real estate sector showed divergence, with VIC (+4.3%), VHM (+2.29%), NCL (-2.36%), CEO (-5.8%), and VRE (-0.46%).
According to experts at Kirin Securities Joint Stock Company, the VN-Index experienced a very sharp decline, breaking through the psychological 1,700-point mark by a considerable margin. Liquidity increased sharply, with the trading volume exceeding the 20-day average by nearly 55%, marking the highest trading volume in the past two months.
Selling pressure is very strong and is highly likely to continue in the next session. The VN-Index has broken through the expected support level of 1,695 - 1,700 points and is heading towards 1,625 - 1,640 points in the next session.
The initial exploratory buying at the 1,695 support level did not yield results, but the risks are not yet significant. Investors are advised to open a second exploratory buying position at the support level around 1,630 in the next trading session.
According to experts at AIS Securities Company, the VN-Index continued its sharp decline and officially lost the 1700-point mark. Foreign investors continuously sold off large amounts of shares amidst a lack of domestic capital inflows, pushing investor sentiment into a state of panic and caution.
The RSI indicator on the daily chart has fallen into the oversold zone (value < 30, lower than the correction period at the beginning and end of March 2026, and also the lowest level since April 2025).
In the upcoming trading sessions, there may be technical rebounds and short-term consolidation within the 1,640 - 1,660 point range. The strongest support for this decline is the 1,600 point level (the lows of November 2025 and March 2026).
