The VN-Index faced a significant downturn on the morning of July 20, 2026, dropping by 1.85% and breaking through the short-term support level established in June. This decline was largely driven by a sharp sell-off in bank stocks, which have historically been a crucial component of the index.

As the market opened, the breadth of the index was heavily skewed, with only 16 stocks rising against 163 that were declining at 9:30 AM. By 10:30 AM, the situation worsened, with 68 stocks rising and 215 falling, and by 11:00 AM, the figures stood at 60 rising and 235 declining. The session concluded with only 40 stocks gaining while 274 stocks lost value.

The VN-Index fell to 1754.38 points, which not only breached the June 2026 low but also dipped below the previous day’s low of July 16 and the 200-day moving average at 1772 points. This technical signal is considered unfavorable for the market, although there remains the possibility for recovery in the afternoon session.

Despite the overall poor performance, two of the largest stocks in the index, VIC and VHM, managed to hold up relatively well, with VIC only experiencing a minor decline of 0.32%. However, the overall market sentiment remains cautious as investors react to the significant sell-off.

Investors are now closely monitoring the market for any signs of stabilization or further declines as they navigate these turbulent conditions.