Large-caps projected to shore up markets   Investors follow transactions at Saigon Securities's trading floor in Ha Noi. Strong performance of large-cap stocks are expected to lift the market in this week's early sessions. - VNS Photo Doan Tung HA NOI - Strong performance of large-cap stocks are expected to lift the market in this week's early sessions, as investors remained confident in large companies due to the lack of available supporting information. "The market has recently depended heavily on blue chips, which suggests that the consensus of gain in the market is not high," said Nguyen Quoc Truong, an analyst at BIDV Securities Co. "The stock market will probably count on several blue chips in the coming sessions, such as Vinamilk, Bao Viet Holdings, Vietcombank or FPT Corp," Truong predicted. However, he noted that in context, the VN-Index has been strongly impacted by several large-cap stocks, which might not accurately reflect the true movement of the general market. Shares were mixed last week. The benchmark VN-Index on the HCM Stock Exchange gained a cumulative 0.8 per cent during the week, ending Friday at 612.4 points. Meanwhile, on the smaller exchange in Ha Noi, the HNX-Index lost 0.9 per cent to close the week at 81.5 points. Overall, liquidity increased over the previous week. The trading volume rose 8.7 per cent in HCM City's market, averaging 112.5 million shares, while daily value grew 11.3 per cent to reach VND2.3 trillion (US$102.7 million). Similar figures in Ha Noi's market were seen in the trading of 47 million shares worth VND517 billion ($23.1 million) per session, up 7.4 per cent in volume and 10.6 in value over the previous week's levels. The lack of supporting information, as well as selling pressures to earn profits in those companies that have released third-quarter earnings, were attributed to the market's volatility last week, according to analysts at Tai Viet Corporation. They also noted slumps occurring among automobile distributors, retail and logistics companies. The growth of the VN-Index mainly relied on heavyweight stocks, such as dairy producer Vinamilk, insurer Bao Viet Holdings or software giant FPT Corp (FPT). Further, analysts at Maritime Securities Co forecast high demand for large-cap stocks, and those with sound financial indicators could lift the VN-Index back to 620 points, the level it last saw in mid-August. "However, the market may see several corrections to test the 600-610 points before heading up again," they said. Foreign investors were net buyers in the two markets last week. They picked up combined shares worth a net buy value of VND154 billion ($6.9 million), of which 99 per cent of the value was disbursed in the HCM City exchange. Also, Vietcombank (VCB) and Saigon Securities Inc (SSI) were purchased most often, while foreigners mainly offloaded real estate companies Hoang Anh Gia Lai Co (HAG), PV Gas (GAS) and Masan Group (MSN). — VNS