On March 29, the stock index rose and fell in intraday trading, and then maintained a narrow shock trend, once falling behind 3200 points; The Shenzhen Component Index and the gem index both rose strongly, with intraday shocks and downward exploration; The turnover of the two cities shrank again, with a full day turnover of about 860 billion yuan, a small net outflow of funds from the north, and the number of falling stocks was close to 3500.
As of the close, the Shanghai index fell 0.33% to 320394 points, the Shenzhen composite index fell 0.46% to 1189508 points, and the gem index fell 0.06% to 259267 points; The total turnover of the two cities was 864 billion yuan, and the net sale of funds from the North was 328 million yuan.
On the disk, the sectors of agriculture and chemical fertilizer rose sharply, the sectors of coal and medicine strengthened, and the concepts of aquatic products, phosphorus, seed industry, pork, covid-19 detection, assisted reproduction and medical beauty were active. Construction, semiconductor, petroleum, home furnishing and other sectors led the decline, while wine making, real estate, automobile, petroleum, steel, securities companies, insurance and other sectors all weakened.
Guotai Junan Securities Co.Ltd(601211) Securities said that the profit expectation decreased + the discount rate expectation increased. The time for A-Shares to reverse the trend has not yet come, and the index will still fluctuate in the range. From the bottom of the policy to the bottom of the market, do a good job in defense and counterattack, rather than trend counterattack. From a strategic point of view, spring will eventually come, and we should also be ready for the coming spring. However, the premise is that investors still need to defend and wait until the demand side policies and fundamental expectations are clear. To maintain the “empty cup” mentality, the short-term market is still dominated by sideways shocks. At the same time, another important factor that cannot be ignored is the transaction structure. The rise of investors’ risk-free interest rate is making A-Shares enter the contraction game.
At present, the logical focus of stock selection should focus on stocks with low-risk characteristics, pay attention to the intersection of undervalued value and profit improvement, and the focus of industry selection should be on consumption and cycle sectors. Specifically, there are three directions: 1) pro inflation & High Dividend: coal and chemical resources; 2) To G end or public investment direction: photovoltaic, wind power, power operation, power grid, construction, etc; 3) dilemma reversal and profitability certainty: pigs and Baijiu, and the bottom elasticity of consumer goods and light industry in the middle part of Q2.
aftermarket strategy
Yuanda: shock bottoming pattern continues, waiting for opportunities after performance landing
Dexun securities Gu: the market shock has fallen and rebounded, or it may appear in the near future
