Oil & Gas Stocks Surge as VN-Index Reverses Late; Foreign Net Selling Hits VND 928B

Overview

Oil & gas stocks surged on May 4, 2026, with BSR hitting the ceiling price and PVS, PLX, OIL, PVD, PVC, and PVB all posting gains, driving the VN-Index up nearly 14 points in the morning session. However, profit-taking in the afternoon erased the gains, leaving the index flat. Foreign investors net sold over VND 928 billion, adding to market pressure.

Key Facts

• VN-Index closed at 1,854.06 points, down 0.04 points from the previous session, after reaching an intraday high of 1,867.85.
• BSR hit the ceiling price (up 7%) and contributed +1.88 points to the VN-Index.
• PVS rose 3.42%, PLX gained 1.17%, and OIL, PVD, PVC, PVB all closed in positive territory.
• Foreign investors net sold VND 928 billion (USD 37.12 million), with ACB net sold VND 339 billion, FPT VND 313 billion, and HPG VND 282 billion.
• Total market liquidity reached VND 23,156 billion, up ~4% from the prior session.
• VHM (-2.74%), VIC (-0.93%), and NVL (-6.83%) were the biggest drags on the index.
• HNX-Index fell 0.25% to 250.04, while UPCoM-Index rose 0.17% to 127.71.

What Happened

According to the session report, the Vietnamese stock market opened strongly on May 4, driven by a broad rally in oil & gas stocks. The catalyst was positive international news: easing geopolitical tensions following signals of dialogue between the US and Iran, which supported oil prices and investor sentiment. BSR led the charge, hitting the ceiling price, while PVS, PLX, OIL, PVD, PVC, and PVB all advanced. The VN-Index climbed nearly 14 points to an intraday high of 1,867.85.

However, profit-taking pressure intensified in the final hour, erasing the gains. The VN-Index closed essentially flat at 1,854.06, down 0.04 points. Market breadth remained positive with 379 gainers versus 307 decliners, but the VN30-Index fell 0.40% to 2,014.62. Foreign investors continued their selling spree, net selling VND 928 billion, with ACB, FPT, and HPG the most sold. On the buying side, HUT, POW, and VRE saw net foreign inflows.

Market Context

BSR (HOSE) closed at VND 26,000 on April 15, down 0.38%, with volume of 11 million shares. The oil & gas sector has been volatile amid fluctuating global oil prices and geopolitical developments. The broader VN-Index has struggled to sustain gains above 1,850, with foreign selling a persistent headwind. Banking and real estate stocks showed divergence, with VCB and BID rising but STB, ACB, and TCB falling. Real estate heavyweights VHM, VIC, and NVL declined sharply, weighing on the index.

Strategic Significance

The oil & gas sector’s strong performance on May 4 highlights its sensitivity to geopolitical catalysts and its potential to drive short-term market momentum. However, the inability to hold gains amid profit-taking and persistent foreign selling suggests that investor confidence remains fragile. For BSR, the ceiling price move reflects speculative interest rather than fundamental news, as the company has not released any material updates. The sector’s rally may be short-lived if oil prices retreat or if foreign selling intensifies. Long-term investors should monitor BSR’s upcoming Q1 2026 earnings and any developments in the US-Iran dialogue.

What to Watch

• BSR’s Q1 2026 earnings release, expected in late April or early May, for operational and margin trends.
• Global oil price movements, particularly in response to US-Iran negotiations.
• Foreign net flow data in the coming sessions to see if selling pressure abates.
• VN-Index’s ability to hold above the 1,850 support level amid mixed sector performance.
• Any official announcements from BSR regarding capacity utilization or export contracts.