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Analysts from securities firms struggled to figure out the market’s trend this week after last week’s turbulent sessions. Illustrative photo

HÀ NỘI — With the market experiencing strong volatility last week, analysts from securities firms are having difficulties forecasting movements this week.

While some expected that cash flows might stay in the market and gradually balance to prepare for the next rally, some analysts predict cash flows will weaken and the market might fall to lower levels to seek new demand.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) finished last week at 1,168.69 points, up 0.01 per cent, after turbulent sessions. The index kept falling in the morning and bouncing back later in some early sessions of the week.

For the week, the VN-Index rose 0.02 per cent.

With the index nearly sideways in the last session, analysts from Việt Dragon Securities Corporation (VDS) said the market almost reached a balanced territory to prepare for a bullish period.

Meanwhile, BOS Securities Corporation (ART) assessed that technically, the VN-Index had received support from strong demand at the 1,155 – 1,160 points level in the last trading session. However, technical indicators still showed weaker cash flows while signs of a bull market are nowhere to be seen.

The securities firm expects the VN-Index might successfully test the 1,170 points level early this week before confirming the return of a rally.

According to Phú Hưng Securities Corporation, on the technical font, the VN-Index will bounce back. Transaction volumes decline but remain higher than the average of 10 and 20 trading days, which means cash flows will stay in the market. Technical indicators showed recovery is the market’s main trend in the short-term, the firm added.

Analysts at Sài Gòn – Hà Nội Securities JSC (SHS) said the market rose in the first two sessions of last week to test the psychological resistance level of 1,200 points again. But the effort of buyers failed as selling pressure persisted.

The frequent overload of orders during trading hours on HoSE last week also affected transactions, making investors’ sentiment turn negative.

The short-term trend of this week is unpredictable with the market falling deeper to find new demand.

Last week, the market’s liquidity in both southern and northern exchanges was higher than the week before and higher than the 20-week moving average.

Utilities stocks posted the biggest gain last week with an increase of 3.4 per cent in market capitalisation. Of which, some outstanding stocks were PetroVietnam Gas JSC (GAS), up 3.6 per cent and PetroVietnam Power Corporation (POW), up 6.7 per cent.

Other sectors witnessing good performance were materials, consumer services and industry.

Meanwhile, consumer products stocks reported the biggest loss of 1.2 per cent in market capitalisation with Masan Group Corporation (MSN) down 1.2 per cent, Việt Nam Dairy Products JSC (VNM) down 1.7 per cent and Saigon Beer – Alcohol – Beverage Corporation (SAB) down 5.4 per cent.

Banking, pharmaceutical and healthcare, and information technology (IT) stocks also fell 0.3 – 1 per cent.

Foreign investors fled from the market last week, with a net sell value of over VNĐ3.08 trillion, equivalent to 82.7 million shares. — VNS

The new cases included two imported who were quarantined in Bac Ninh Province right after their arrival, and one in Hai Duong Province.

The new patients brought the total count in the country to 2,512, including 1,585 domestically-transmitted cases.

The Treatment Subcommittee reported that a total of 1,920 patients had been given the all-clear from the coronavirus SARS-CoV-2 so far, and the fatalities remained at 35.

Among the active patients undergoing treatment, 65 tested negative to the virus once, 57 twice and 137 thrice.

As many as 45,219 people who had close contact with confirmed COVID-19 patients or entered Vietnam from pandemic-hit regions are being quarantined across the country, including 506 in hospitals, 14,266 in other establishments, and 30,446 at home.

The country documented 1,585 domestically-transmitted infections, including 892 cases since the latest outbreak hit Hai Duong province on January 27.

As many as 45,219 people who came in close contact with COVID-19 patients or arrived from pandemic-hit areas are under quarantine nationwide, including 506 at hospitals, 14,266 at other quarantine sites, and 30,446 at home.

Among the patients under treatment, 65 have tested negative for SARS-CoV-2 once, 57 twice, and 137 thrice.

The Treatment Sub-committee said that 1,920 patients have been declared clear of the coronavirus so far.

Hanoi has gone through 20 days without new local transmission of COVID-19, while other ten cities and provinces has logged no new cases in 23 days, including Hoa Binh, Dien Bien, Ha Giang, Binh Duong, Hung Yen, Bac Giang, Gia Lai, Bac Ninh, Quang Ninh and Ho Chi Minh City.

Vietnam begins COVID-19 vaccination on March 8, 2021, using recently-imported AstraZeneca COVID-19 vaccine. The vaccine was granted Emergency Use Listing by the World Health Organisation for active immunisation to prevent COVID-19 in individuals aged from 18.

In a bid to live safely with the pandemic, people should strictly follow the Ministry of Health’s 5K message: khau trang (facemask), khu khuan (disinfection), khoang cach (distance), khong tu tap (no gathering) and khai bao y te (health declaration).