At the end of the trading session on October 29, 2021, the whole market had 67 losers, 20 gainers and 11 stood still. Foreign investors continued to be net sellers with a total net selling of more than 4 million shares.
I. WORLD SECURITIES MARKET MOVEMENT
The warrant market ended the session on October 29, 2021 with 67 decliners, 20 gainers and 11 unchanged stocks.
Also in this session, the market recorded 6 new warrant codes from Ho Chi Minh City Securities Joint Stock Company (HM:HCM) (HSC) including CFPT2109, CMBB2107, CMSN2110, CMWG2111, CVIC2107 and CVNM2112. In which, CVIC2107 and CMSN2110 actively traded with green color 8.72% and 10.64%. In contrast, CVNM2112 dropped slightly by 0.66%, CFPT2109, CMBB2107, CMWG2111 dropped from 4.57%-5.26%.
The red color covers most of the bank warrants. In which, CVPB2105 decreased by 12.7%, followed by warrant codes STB (HM:STB) with CSTB2108, CSTB2106 and CSTB2110 decreasing in the range of 7%-10%. CTCB2106 and CTCB2110 decreased by 5.69% and 4.76% respectively.
Although continuing to witness an increase in the price of the underlying stock KDH (HM:KDH), these warrants recorded mixed results with CKDH2103 down 9.84%, CKDH2104 and CKDH2107 down more than 3%. Besides, the warrant groups MSN (HM:MSN) and HPG (HM:HPG) also recorded less optimism, CMSN2106 and CHPG2112 fell sharply by 14.52% and 7.32%, the rest of the codes in the group were also in the red.
On the contrary, on the bullish side, the warrant group VHM (HM: VHM) showed a positive as most stocks gained strongly. The most prominent is CVHM2111 with an increase of 39.71%, followed by codes CVHM2110, CVHM2112, CVHM2107 and CVHM2108 with an increase of 10%-20%.
The trading volume of the warrant market in the session on October 29, 2021 reached more than 41.4 million units, up 32.8%. The transaction value reached more than 75.7 billion dong, up 35.9% compared to the session on October 28, 2021. In which, CVHM2110 is the market leader in terms of volume, while CMSN2105 is still leading in terms of trading value.
Foreign investors continued to be net sellers in the session of October 29, 2021 with a net selling level of more than 4 million shares. In which, CSTB2106 and CVRE2110 are the two warrant codes that are sold the most by foreign investors.
III. VALUATION OF WOMEN WORDS
Based on the fair valuation method with the starting date of November 1, 2021, the fair price bracket of warrants being traded on the market is shown as follows:
Note: The opportunity cost in the pricing model is adjusted to suit the Vietnamese market. Specifically, the risk-free bill rate (Government bill) will be replaced by the average deposit interest rate of large banks with term adjustment suitable for each type of warrant.
According to the above valuation, CVPB2107 and CKDH2106 are currently the two warrants with the most attractive valuations.
The higher the effective gearing warrants, the larger the increase/decrease movements in the underlying security will usually be. Accordingly, CPNJ2105 and CKDH2106 are currently the two warrants with the highest effective gearing ratio in the market at 7.84 and 7.21 times, respectively.
Economic Analysis & Market Strategy, Vietstock Consulting Department
Relate post:
- China: Economic growth slows but retail sales soar
- Personal income tax revenue from salaries, wages, securities, real estate… decreased