Novaland's office in An Phú Ward, District 2, HCM City. Novaland's shares rose 5.4 per cent last week. Photo novaland.com.vn

HÀ NỘI Shares are forecast to gain this week thanks to cash flow returning into the market amid a positive business outlook of enterprises in the next quarters.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 0.11 per cent to close Friday at 1,069.71 points.

The index had gained 0.48 per cent last week.

VNDirect Securities Co (VND) forecasts that individual investors' cash flow will gradually return to the stock market in the context of falling opportunity costs, loosening credit conditions and falling financial costs, helping to improve the business outlook of businesses in the coming quarters.

According to VNDirect, the State Bank of Việt Nam continued to have an interest rate cut on March 31; exchange rate pressure cooling down helped the State Bank buy about US$800 million of foreign exchange reserves last week. This information clearly shows the reversal trend of monetary policy.

VNDIRECT said the VN-Index will maintain a slow uptrend this week and move towards the resistance zone of 1,080-1,100 points.

"In the face of strong resistance, investors should maintain certain caution and limit purchasing at high prices. Investors should only consider buying stocks in correction sessions, prioritising industries with growth this year such as public investment, banking, steel, building materials and securities," VNDIRECT recommended.

Việt Dragon Securities Co. added: “Profit-taking pressure temporarily cooled down on Friday, creating an opportunity for demand to return and support the market at the end of the session. All indices retreated and closed around the reference level with a significant drop in liquidity.

"With this development, the market still has a chance to recover early next week to test the presence of supply pressure at the high price zone. It is expected that the area of 1,075-1,080 points of VN-Index will continue to have conflicting movements.

“Therefore, investors can temporarily expect a recovery at the beginning of next week. However, investors should take advantage of this recovery of the market to take short-term profits or sell to minimise risks for the portfolio.”

Large-cap banking stocks suffered strong correction pressure last week, including Vietcombank (VCB) down 1.5 per cent, Bank for Investment and Development of Vietnam (BID) down 1.2 per cent and VPBank (VPB) down 0.7 per cent. Meanwhile, banks with low capitalisation increased positively such as Techcombank (TCB) up 4.2 per cent, Tiên Phong Bank (TPB) up 4.1 per cent and Saigon-Hanoi Bank (SHB) up 7.9 per cent.

In the real estate industry, Vinhomes (VHM) and Vingroup (VIC) both fell while smaller-cap real estate stocks gained strongly such as Novaland (NVL) up 5.5 per cent, Nam Long Group (NLG) up 9.3 per cent, DIG Corp (DIG) increased by 25.9 per cent.

In the context of improved liquidity, securities groups also had an impressive gain. These include BIDV Securities Jsc. (BSI) up 15.6 per cent and SSI Securities Inc (SSI) up 4.7 per cent.

The HNX-Index on the Hà Nội Stock Exchange (HNX) rose 0.08 per cent to close Friday at 211.60 points.

The index had risen 1.98 per cent last week. VNS