Recently, the market track has changed. With ningwang diving again today, some institutions believe that the main force shows signs of turning from overvalued high growth track stocks to undervalued blue chips.
ningwang diving
Today Contemporary Amperex Technology Co.Limited(300750) afternoon, it once fell below the integer mark of 500 yuan, then rebounded, and finally closed down 5.32%, with a transaction amount of nearly 15 billion, a record high.
It is worth noting that since its peak on December 3 last year, the stock has fallen by 25% and the total market value has evaporated more than 400 billion yuan.
As for ningwang's sudden diving, Central China Securities Co.Ltd(601375) said that the current market differentiation characteristics are more serious. The growth stocks and track stocks with large cumulative gains in the early stage have shaken down one after another. Many undervalued heavyweights in the main board market began to emerge, and the mentality of investors abandoning the high to the low is more obvious.
three way main force buys more than 100 billion
According to the data of China stock market news choice, since November last year, the total net purchase of individual stocks with a P / E ratio of less than 20 times by northbound funds, leveraged funds and main funds has exceeded 100 billion.
northbound capital: 80 billion explosive purchase
According to the data of China stock market news choice, since November last year, northbound funds have arranged undervalued stocks in advance, holding more than 290 stocks with a P / E ratio of less than 20 times, with an increase of more than 80 billion yuan.
Among the top 30 stocks with increased holdings, China Merchants Bank Co.Ltd(600036) is the most popular, with more than 10 billion yuan of funds from the north; Followed by Ping An Insurance (Group) Company Of China Ltd(601318) , with an increase of more than 5.6 billion yuan.
Undervalued blue chips such as Industrial Bank Co.Ltd(601166) , China State Construction Engineering Corporation Limited(601668) , Bank Of Ningbo Co.Ltd(002142) , Huatai Securities Co.Ltd(601688) , satellite chemistry, China Yangtze Power Co.Ltd(600900) also gained an increase of 3.5 billion yuan to 1.9 billion yuan respectively.
From the perspective of industry distribution, the undervalued stocks with the highest amount of northward capital holdings are mostly concentrated in traditional value blue chip industries such as banking, non bank finance, infrastructure, chemical industry and steel.
leveraged funds: favorite Ping An Bank Co.Ltd(000001)
Leveraged funds are also unwilling to lag behind. According to the data of China stock market news choice, since November last year, leveraged funds have bought 190 stocks with a P / E ratio of less than 20 times, with a total amount of 16.7 billion yuan.
Among the top 30 undervalued stocks with financing net purchases, Ping An Bank Co.Ltd(000001) is the most popular, with financing net purchases exceeding 600 million yuan; Zhejiang Century Huatong Group Co.Ltd(002602) the net purchase amount was 476 million yuan, ranking second.
The net purchase amount of individual stock financing such as Ming Yang Smart Energy Group Limited(601615) , Kunlun Tech Co.Ltd(300418) , Zhejiang Dahua Technology Co.Ltd(002236) , Zhejiang Jianfeng Group Co.Ltd(600668) , Weichai Power Co.Ltd(000338) , Lier Chemical Co.Ltd(002258) , Camel Group Co.Ltd(601311) , Bank Of Jiangsu Co.Ltd(600919) , China National Chemical Engineering Co.Ltd(601117) also ranges from 470 million yuan to 300 million yuan.
From the perspective of industry distribution, compared with northward funds, the layout of leveraged funds and undervalued stocks are more diversified. Existing Ping An Bank Co.Ltd(000001) , Bank Of Jiangsu Co.Ltd(600919) , China National Chemical Engineering Co.Ltd(601117) , Sichuan Road & Bridge Co.Ltd(600039) and other traditional banks and infrastructure stocks; There are also super digital economy theme stocks such as Zhejiang Century Huatong Group Co.Ltd(002602) , Kunlun Tech Co.Ltd(300418) ; There are also Fujian Funeng Co.Ltd(600483) , Shanxi Coal International Energy Group Co.Ltd(600546) and other carbon neutral stocks.
main capital: net purchase of 32.5 billion
The data of China stock market news choice also shows that the main funds represented by super large orders have net bought 101 stocks since November last year, with a total net purchase amount of 32.5 billion yuan.
Among the undervalued stocks in the top 30 of the main net purchases, China Mobile ranks first, with a net purchase of more than 10 billion yuan; Midea Group Co.Ltd(000333) ranked second, with a net purchase of more than 5.9 billion yuan.
The main net purchases of Bank Of Ningbo Co.Ltd(002142) , Industrial Bank Co.Ltd(601166) , Poly Developments And Holdings Group Co.Ltd(600048) , Bank of Lanzhou, Baoshan Iron & Steel Co.Ltd(600019) , China Communications Construction Company Limited(601800) , Lier Chemical Co.Ltd(002258) ranged from 1.2 billion yuan to 600 million yuan.
From the perspective of industry distribution, the main large single funds are mainly concentrated in traditional value blue chip fields such as telecommunications, household appliances, banking, infrastructure, chemical industry and steel.
concept of undervaluation what do institutions think
For the future prospects of undervalued stocks, institutions have expressed their views.
Citic Securities Company Limited(600030) said that the sharp position adjustment of institutions at the beginning of the year accelerated the "high cut to low", and the collapse and reappearance of high-level tracks. Stable growth is the main line for the first quarter at least. The consensus of the market on low-level blue chip will be strengthened, and the starting point of the market in the first half of the year will be postponed. The first quarter is still the best time point for the blue chip market in the whole year.
Guosheng Securities believes that after the sharp decline is completed and the risk is fully released, the market is expected to usher in a breathing opportunity and have a good opportunity to rebound and do more. In terms of operation, the main decline of small and medium-sized stocks before the festival and the supplementary decline of large cap stocks after the festival have been completed, the risk release has been relatively sufficient, the market sentiment has obviously warmed up, the superimposed market volume can be enlarged, and the market main line focusing on infrastructure has emerged. Therefore, the short-term market may welcome the good opportunity of rebound and long, light the index and heavy stocks, and focus on infrastructure, power Opportunities for small and medium-sized stocks such as coal.
According to the research report released by Zhongtai Securities Co.Ltd(600918) , in terms of historical industry performance, the value blue chip has higher excess returns in the chain of African bank finance, banking and real estate. Since December 2021, under the loose policy tone and the marginal improvement of economic data, the undervalued sector has been repaired.
For the aftermarket strategy, China International Capital Corporation Limited(601995) puts forward balanced allocation suggestions: 1) the areas potentially supported by the marginal change or force of the policy, including the industrial chains related to the stable demand of infrastructure and real estate (construction, building materials, household appliances, home furnishings, real estate, etc.), potential consumption support areas, securities dealers, etc.
