Selling pressure on the stock may not be strong.

At the close of trading on July 29, the VN-Index rose nearly 4.5 points (+0.36%), closing at 1,246 points.

Vietnamese stocks performed relatively well in terms of points on July 29th, but the supporting capital flow remained low. Investors traded cautiously as the VN-Index approached the 1,250-point mark. The intraday trading range was quite narrow, with investors testing the waters before reaching this resistance level.

At the close of trading, the VN-Index rose nearly 4.5 points (+0.36%), closing at 1,246 points. Liquidity on the HoSE was low, with only 496.8 million shares successfully traded.

Among the 30 large-cap stocks (VN30), 14 increased in price, including VNM (+2.1%), BID (+1.8%), HPG (+1.6%), MWG (+1.6%), TPB (+1.4%), etc. Conversely, 7 decreased in price, including VRE (-1.8%), VHM (-1.7%), VJC (-1.5%), MBB (-0.8%),SHB (-0.5%), etc.

With the market recovering, many stock groups continued to show gains. The steel, food, retail, and chemical sectors traded quite actively, providing positive support to the market.

According to Rong Viet Securities (VDSC), liquidity on July 29 increased compared to the previous session but remained low. This indicates that the supply of shares has not yet put significant pressure on the market.

"It is likely that the VN-Index will continue to test the 1,250-point resistance level in the next trading session. The lack of strong buying pressure on stocks may weaken the market in the coming period," VDSC forecasts.

However, Vietcombank Securities Company (VCBS) believes the market is showing positive developments thanks to increased demand for stocks.

"Short-term investors may consider taking profits on stocks that have reached their price targets, while selectively choosing stocks that attract stable cash flow in certain sectors such as chemicals, fertilizers, and steel..." - advised Mr. Tran Minh Hoang, Director of Research and Analysis at VCBS.

Source: https://nld.com.vn/chung-khoan-ngay-mai-30-7-luc-ban-co-phieu-co-the-khong-manh-196240729173505093.htm