The assembly workshop of Vinfast's automobile manufacturing plant, a subsidiary of Vin Group, in Hải Phòng City. Shares of this conglomerate led the gainers on a bearish market day. — VNA/VNS Photo

The stock market experienced increased selling pressure on Thursday, with major stocks also suffering significant losses. Consequently, the VN-Index returned to a declining trend, while liquidity hit its lowest in six months.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished the day at 1,233.19 points, down 5.28 points, or 0.43 per cent.

On the southern bourse, the breadth was negative as 192 stocks declined, while 118 increased and 59 ended flat. Liquidity hit a record low at VNĐ11.7 trillion (US$462.8 million), a decrease of 34.2 per cent from the previous session. This marked the lowest liquidity level since January 25, 2024.

The VN30-Index, tracking the 30 biggest stocks on HoSE by market capitalisation, also dropped 8.33 points, or 0.65 per cent, down to 1,272.18 points. The number of decliners surpassed gainers in the VN30 basket by 22 to four, while four stocks ended flat.

Large-cap stocks in the financial and banking sectors led the market's downturn, with Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) posting the biggest fall in market capitalisation of 2.02 per cent, contributing to a decrease of more than 0.8 points in the VN-Index.

It was followed by Hòa Phát Group JSC (HPG), which fell 1.26 per cent; Fortune Vietnam Joint Stock Commercial Bank (LPB), which dropped 2.56 per cent; and Vietnam Technological and Commercial Joint Stock Bank (TCB), which posted a decline of 1.09 per cent.

A notable stock in the decliners' group was Vietnam Airlines JSC (HVN), whose shares hit the lower limit, dropping 6.91 per cent. Specifically, the airline's stock has fallen by more than 40 per cent in one month.

Losses were capped by gains in some pillar stocks, led by Vingroup Joint Stock Company (VIC). Shares of this conglomerate rose 1.71 per cent, contributing more than 0.66 points to the VN-Index gain.

It was followed by Becamex (BCM), which rose 3.29 per cent, and Vietnam Rubber Group Joint Stock Company (GVR), which increased by 0.92 per cent.

According to analysts from Việt Dragon Securities, the sharp decline in liquidity and the anticipated resistance zone of 1,240 – 1,250 points will continue to exert supply pressure on the market in the coming time, posing risks of further declines. Therefore, investors should remain cautious amidst the market's instability, maintaining a safe portfolio allocation and considering selling during market rebounds to minimise risks.

The Hà Nội Stock Exchange (HNX) index also finished lower on Thursday, declining 0.39 per cent to 235.25 points.

During the session, more than VNĐ783 million worth of shares were traded, equivalent to a trading volume of over 36 million shares on the northern bourse.

Foreign investors returned to their net selling spree as they net sold over VNĐ491 billion on HoSE. — VNS