On March 31, the stock index rose and fell in the morning and fell slightly in the afternoon; The Shenzhen Component Index and the gem index fell by more than 1% in intraday weak shocks; The turnover of the two cities has been enlarged, with a daily turnover of more than trillion yuan, and a small net purchase of funds from the north.
As of the close, the Shanghai index fell 0.44% to 3252.2 points, the Shenzhen composite index fell 1.19% to 1211825 points, and the gem index fell 1.38% to 265949 points; The total turnover of the two cities was 1009.1 billion yuan, and the net purchase of funds from the North was 1.053 billion yuan. From the monthly line, the Shanghai index fell about 6% in March, the Shenzhen composite index fell nearly 10%, and the gem index fell 7.7% for four consecutive months.
On the disk, the real estate sector continued to be strong, with a bright performance; Banking, coal, home furnishings, building materials, construction and other sectors all rose; Aviation, tourism, semiconductor, nonferrous metals, electric power, agriculture, automobile, securities and other sectors weakened; The concept of digital currency broke out in the afternoon, and topics such as water conservancy construction, covid-19 medicine and shipping concept were active.
Sealand Securities Co.Ltd(000750) pointed out that at the meeting of the Finance Committee on March 16, the intention to protect the market was clear, and some negative factors that triggered this year’s A-share adjustment have been positively responded by the regulators. The end of this round of policies has been achieved, and the market bottom is likely to lag. At present, A-share is still in the bottom grinding stage, and the confirmation of the market bottom signal needs to see the further force of unconventional policies or the stabilization of the macroeconomic bottom, And overseas negative disturbances have been mitigated. For A-Shares from the end of the policy to the end of the market, although the yield of the broad-based index is still negative and accompanied by the compensatory decline of strong industries, the stage with the largest decline slope of the market has passed, and structural opportunities are gradually emerging. A shares are not without opportunities. The sectors with clear policy expectations and the most deterministic performance are the main lines leading the rise in this period, such as TMT sector from February to March 2020 and small cap stocks in the fourth quarter of 2018.
YueKai Securities said that it is expected that under the hedging of foreign factors in April, the A-share shock repair market is expected to continue. The change of profit expectation will lead to the differentiation of the market. It is suggested that investors should pay more attention to individual stocks than index, and focus on two main lines around the certainty of performance and the layout of policy force end. First, the performance window is approaching, and pay attention to the pre hi sector of the first quarterly report. April will usher in a performance intensive disclosure period, and the market will return to the verification period of performance. From the perspective of industry prosperity, the performance certainty of basic chemical industry, electronics, medical biology, national defense and military industry is relatively stronger. It is suggested that investors should pay attention to the performance of the first quarter report in advance in combination with the valuation matching degree. Second, grasp the main line of policy. As the main policy line, steady growth will remain the main market in the long run. It is suggested to continue to pay attention to new and old infrastructure and investment opportunities in the consumer industry to expand domestic demand. In addition, the recent intensive release of policies in energy, medicine and other industries is expected to usher in rapid development opportunities in relevant sectors. It is suggested to pay attention to high-quality target investment opportunities in policy beneficiary sectors
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