Vietnam's markets opened a new trading week on July 30 in positive territory, but trading remained sluggish on both bourses.

On the HCM Stock Exchange, the benchmark VN-Index closed 0.45 percent higher at 415 points, but trading value slumped to just 461.8 billion VND(22 million USD), a decrease of 25.5 percent from the previous session on July 27.

Gains in several blue chips lifted the market. Both dairy producer Vinamilk (VNM) and food processor Masan Group (MSN) are up over 2 percent, while software giant FPT Corp (FPT) and Sacombank (STB) gained around 1.5 percent. All of these companies have posted higher Q2 profits compared to last year.

The fourth largest listed lender Sacombank (STB) with over 4 million shares changing hands was also the most active stock, ending the session at 23,200 VND (1.10 USD).

The VN30 Index tracking the top 30 shares by market capitalisation and liquidity was up 0.6 percent at 492.55 points.

Meanwhile on the Hanoi Stock Exchange, the HNX-Index also closed in the black with an increase of 0.14 percent to 69.45 points.

Market value fell 33 percent over the previous session totalling just 248.3 billion VND (11.8 million USD) on trading of 25 million shares.

Large-cap shares on the Hanoi bourse lost value in the afternoon session, with the HNX30 losing 0.13 percent to close at 131.39 points.

Market conditions are negative overall with 92 codes rising, 104 declining and 198 closing unchanged. VNDirect Securities (VND) was still the most active stock with 3.35 million shares changing hands, closing unchanged at 10,900 VND(0.52 USD).

There are still no signs of a recovery period and buyers seemed unmoved by relatively attractive share prices, stock analysts from Investment Vietnam Securities Co wrote in a research note.

Many listed companies had reported Q2 losses, so short-term investors should sit out of the market and wait for more signs.

Foreign investors concluded the as net buyers on both exchanges, picking up a combined 10.5 billion VND (500,000 USD) worth of shares.-VNA