On March 17, the three major stock indexes opened higher and walked higher, with strong intraday rise. The Shanghai index rose by more than 2.5% and stood at 3200 points, the Shenzhen Composite Index rose by more than 4%, and the gem index rose by nearly 5%; The rise narrowed in the afternoon; The turnover of the two cities was enlarged again, with a full day turnover of nearly 1.3 trillion; The net purchase of northbound funds exceeded 5 billion yuan.
As of the close, the Shanghai index rose 1.4% to 321504 points, the Shenzhen Composite Index rose 2.41% to 1228997 points, and the gem index rose 2.87% to 271073 points; The total turnover of the two cities was 1275.4 billion yuan, and the net purchase of funds from the North was 5.365 billion yuan.
On the disk, real estate, medicine, home furnishings, health care, wine and other sectors rose, while coal, building materials, tourism, automobile, insurance and other sectors strengthened, while banks and securities companies fell in the afternoon; Covid-19 is active in subjects such as medicine, photoresist and medical beauty concept.
China Securities Co.Ltd(601066) Chen Guo believes that the current market has high cost performance in the long run and is suitable for the allocation of long-term funds into the market. In the medium term, we still face the impact of adverse external factors such as the Fed’s interest rate hike, the financial turmoil caused by Russia’s default, and the increase in the probability of global stagflation, which needs to be observed. However, at present, investors should not be pessimistic. Under the background of a series of comprehensive improvement of concerns, the market is expected to usher in an oversold rebound and a quarterly report. In terms of industry configuration, the first quarter high boom + marginal improvement sector will be the focus of the current rebound. The current market comes to the annual report + quarterly report disclosure window after the performance vacuum period, which will verify the high prosperity of the high-end manufacturing industry chain. In terms of meso data, the sales volume of new energy vehicles in February is bright, the demand for photovoltaic in the first quarter is better than expected, and the semiconductor / military industry is still in the high boom range. In addition, the top decline since December and the current relatively reasonable valuation quantile are optimistic about its subsequent relative income performance. At the same time, the current positive signals also include the adjustment of monetary policy and epidemic prevention and control policy that is worthy of further expectation.
Northeast Securities Co.Ltd(000686) said that from the performance of 13 oversold rebound industries since 2005, there are two kinds of good performance directions: one is that the external conflict is alleviated and the market returns to the high prosperity direction under the basic logic, such as agriculture and food and beverage in 2019 and TMT in June 2013; Second, in the direction of steady growth policy, continue to benefit, such as real estate and building materials in March 2014. Under the current external risk mitigation, focus on the high boom growth of short-term oversold, such as new energy with high growth of Fengguang lithium battery, semiconductor with accelerated expansion of wafer factories and unchanged domestic substitution, military industry with higher than expected military budget, covid-19 specific drugs and innovative drugs, etc; The continuation direction of steady growth orientation mainly focuses on the direction of low-carbon and digital new infrastructure, as well as the undervalued central enterprises of building materials catalyzed by the reform of Chinese enterprises in old infrastructure
analysis and interpretation
Jufeng investment adviser: rush up and fall down! Oversold rebound as scheduled to open the bottom again or meet the best time to copy the bottom?
Xiangcai Securities: the capital market has been controlled by bulls
Hexin investment consulting: the index rebounded in two directions and became the main force of the market rebound
