HÀ NỘI — Việt Nam’s stock market extended its recovery on Thursday, supported by strong gains in real estate stocks — particularly VIC, which hit its ceiling price for the second consecutive session. The surge helped the VN-Index rise by 5.88 points to close at 1,229.23 points.

The session opened on a positive note with mild gains, though early selling pressure brought the benchmark close to the reference level by late morning. However, buying demand strengthened in the afternoon, especially in real estate stocks, pushing the market higher towards the end of the day.

On the Hồ Chí Minh Stock Exchange (HoSE), 256 stocks advanced while 220 declined. Market liquidity improved, with total trading value reaching more than VNĐ20.35 trillion (US$779.9 million), up nearly VNĐ2.7 trillion from the previous session, indicating improving investor sentiment.

The spotlight of the session was once again VIC, which surged by 6.9 per cent to VNĐ67,000 per share — its second straight ceiling gain. The rally came after Vingroup’s annual general meeting on April 24, where the group unveiled an ambitious business plan targeting revenue of VNĐ300 trillion and post-tax profit of VNĐ10 trillion in 2025, up 56 per cent and 90 per cent year-on-year, respectively.

Vingroup also announced that Vinpearl had completed listing procedures and expected to finalise the process by April or May. The company aims to sell 200,000 VinFast vehicles this year. A comment by Vingroup Chairman Phạm Nhật Vượng — stating his preference to invest in VIC shares rather than gold — further galvanised investor interest. According to Forbes, Vượng’s net worth rose by US$641 million to US$8.1 billion after two sessions of ceiling-hitting gains in VIC.

Besides VIC, other real estate stocks also performed well. Vinhomes (VHM) gained 1.8 per cent, while CII hit its ceiling price at VNĐ12,800 with more than 25 million shares traded. NVL, PDR and DXG also closed in positive territory, although with more modest gains. The sector remained the main driver of both performance and liquidity in the market.

Conversely, the banking group faced selling pressure, with most stocks in the sector such as LPB, STB, ACB, VPB, VIB, and SSB ending lower, partly offsetting the broader market’s momentum. The VN30 Index reflected the divergence among large-cap stocks, with 17 decliners, 12 advancers and one unchanged. Among the top performers were VietJet Aviation (VJC), up 6.2 per cent, Vinamilk (VNM), up 3.6 per cent, and Masan Group (MSN), up 3.5 per cent — all contributing to the index’s strength.

Foreign investors were net sellers once again, offloading nearly VNĐ592 billion across the market. Key stocks sold included FPT, VIC, STB and SHB. However, net buying was seen in Hòa Phát Group (HPG) with VNĐ87 billion, MSN with VNĐ64 billion, as well as HDBank and Gemadept (GMD).

According to Saigon – Hanoi Securities (SHS), the ongoing recovery is largely fuelled by positive first-quarter earnings. Stocks with solid fundamentals and clear growth potential are returning to attractive price levels following recent corrections. As a result, capital flows have shifted towards leading firms in sectors such as real estate, consumer goods and public investment.

Nonetheless, analysts advise investors to maintain balanced portfolio allocations and remain cautious in the face of macro uncertainties, including tax policy shifts, interest rate trends, and foreign investor flows. Stocks with strong fundamentals, positive earnings outlooks and minimal exposure to external risks are expected to remain in focus in the near term. — VNS