Investors watch stock indices on a computer screen. — VNA/VNS Photo

HÀ NỘI — Shares are expected to move up thanks to returning cash flow after testing supply and demand.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 0.15 per cent to end last week at 1,206.33 points.

The index had gained a total 0.97 per cent last week.

Nearly 515.4 million shares were traded on the southern exchange during each session last week, worth VNĐ12 trillion (US$514.1 million).

“In the last trading session of July, the cash flow remained cautious when VN-Index continued to gain and approached the strong resistance area of 1,215-1,220 points,” said Việt Dragon Securities Co.

“Although there was a good bullish signal in the previous session, VN-Index approached the resistance area of 1,220 points in a cautious way. zzThe short-term profit-taking pressure is still exerting pressure, so it is likely that the market will need more time to test supply and demand in the zone of 1,200 – 1,220 points of the VN-Index.

“Therefore, investors should temporarily limit chasing, and may consider buying and accumulating stocks that are near support areas or showing signs of attracting cash flow,” Việt Dragon Securities Co said.

“If strong swings occur during the last session of the week, investors can take advantage of the opportunity to open long trading positions or increase stock exposure,” said Bảo Việt Securities Co.

“For existing positions, investors should continue to actively sell to secure profits at specific resistance zones of each stock and can consider rotating to stock groups that have not gained.

“On the other hand, investors should actively place trailing stop-loss orders at breakeven points to ensure the safety of existing positions in the portfolio,” said the company.

The market's pillar stocks last week were banks, which helped the market recover positively. These stocks included Bank for Investment and Development of Vietnam (BID) up 5.1 per cent, Vietcombank (VCB) up 3 per cent, VPBank (VPB) up 2 per cent, Vietinbank (CTG) up 1.1 per cent and Techcombank (TCB) up 0.9 per cent.

They were followed by financial stocks such as SSI Securities Inc (SSI) up 2.2 per cent, HCM Securities Corporation (HSC) up 5.9 per cent, Việt Capital Securities Inc (VCI) up 6.6 per cent. Insurance stocks like Bảo Việt Holdings (BVH) was up 2.7 per cent, the BIDV Insurance Corporation (BIC) up 6.1 per cent, PVI Insurance (PVI) up 6.4 per cent, Agriculture Bank Insurance Joint Stock Corporation (ABI) up 10.2 per cent.

On the other hand, utilities services dropped the most with PetroVietnam Gas JSC (GAS) losing 0.3 per cent, Bình Dương Water - Environment Joint Stock Company (BWE) down 0.6 per cent, Refrigeration Electrical Engineering Corporation's (REE) down 7 per cent.

Steel stocks also dropped with Hòa Phát Group (HPG) losing 3.2 per cent, Hoa Sen Group (HSG) down 6.4 per cent and Nam Kim Group (NKG) down 7.5 per cent. — VNS