I. STOCK WARRANT MARKET TRENDS
At the close of trading on March 19th, 2024, there were 57 stocks that increased in value, 76 stocks that decreased in value, and 41 stocks that remained unchanged.
Market breadth in the past 20 sessions. Unit: Percentage (%)
Source: VietstockFinance
In the trading session on March 19th, 2024, sellers continued to dominate the market, causing most stock warrants to experience a slight decrease. Specifically, the major stock warrants in the decliners group were CMBB2306, CFPT2316, CMWG2305, and CTCB2310.
Source: VietstockFinance
The total trading volume in the entire market on March 19th reached 46.99 million CW, a decrease of 47.91%; the trading value reached 39.84 billion VND, a decrease of 43.6% compared to the session on March 18th. Among them, CMWG2313 led the market in both trading volume and value, with a total volume of 4.52 million CW, equivalent to a value of 3.34 billion VND.
Foreign investors continued to be net buyers in the March 19th session, with a total net buying volume of 610,500 CW. Among them, CVIC2312 and CPDR2303 were the two most heavily bought stock warrants.
Securities companies KIS, SSI, HCM, ACBS, VND are currently the most active issuing organizations in the market.
Source: VietstockFinance
II. MARKET STATISTICS
Source: VietstockFinance
III. STOCK WARRANT VALUATION
Based on the valuation method appropriate for the starting date of March 20th, 2024, the fair prices of the stock warrants currently traded in the market are as follows:
Source: VietstockFinance
Note: The opportunity cost in the valuation model is adjusted to suit the Vietnamese market. Specifically, the risk-free bond interest rate (Government bonds) will be replaced by the average deposit interest rate of major banks, with appropriate adjustments for each type of stock warrant.
According to the above valuation, CMSN2302 and CHDB2304 are currently the most attractively priced stock warrants.
The higher the effective gearing, the greater the volatility in relation to the underlying stock. Currently, CNVL2303 and CHPG2318 have the highest effective gearing ratios in the market.
