High volume! On Wednesday (April 20), the three major A-share indexes fell and the transaction amount was enlarged. In terms of hot spots, the concept of unified big market and prefabricated dishes is stronger, while the industry is led by tourism hotels and food and beverage. At the same time, there are three industries with a decline of more than 4% in the market. What investment opportunities are there under the dual sky of ice and fire?
As of the close, the Shanghai Composite Index fell 1.35% to 315105 points, the Shenzhen composite index fell 2.07% to 1139223 points, and the gem index fell 3.66% to 236365 points; The total turnover of the two cities was 820679 billion yuan, an increase of 5.30%, and the net sale of funds from the North was 5.288 billion yuan.
In terms of individual stocks, on Wednesday, the A-share market rose less and fell more. A total of 1316 stocks rose and 3378 stocks fell. Among them, 67 stocks closed at the daily limit and 44 stocks fell by the limit. From the perspective of the industry, the trading limit stocks are mainly concentrated in commercial retail, computer, food and beverage, automobile and other industries.
Trading limit of individual stocks on Wednesday (April 20): p align = “center” tabulation: Zhao Ziqiang
For the downward trend of a shares, institutions generally said that at present, the market is in the process of shock and bottom grinding, and structural opportunities are expected to appear gradually.
Guotai Junan Securities Co.Ltd(601211) believes that the index may remain at the bottom in the short term. At present, the economic data of the first quarter roughly meet the market expectations. However, it should be noted that under the influence of the epidemic, consumption began to be restrained and weakened at the end of March. The intraday capital defense situation is obvious. It prefers the defense varieties with undervalued value and oversold rebound. The overall wait-and-see mood is strong, so the probability will continue to be weak in the short term.
Rongwei Securities said that technically, the Shanghai index is still in the box range, and the market fluctuates around the range above the 850 day moving average. The structural market of the two cities is obvious. The continuous downturn of the track sector makes it difficult for the index to rise. The rotation of the volatile market sector is accelerated and the operation is difficult. It is recommended to focus on low absorption, control the position, and wait for empty positions when confused.
At the same time, public funds, private placement and other institutions have also put forward their views on the future market. Huang Yiming, head of the equity investment department of Baijia, expressed positive views on our equity market. Despite the international geopolitical conflicts that restrict the upward movement of the market, the high price of bulk commodities and the market’s concern about capital outflow under the background of the US interest rate hike, there are still negative factors. However, after the release of systemic risks in the equity capital market since 2022, the medium and long-term investment value has gradually emerged, superimposed with policy cross cycle adjustment, the overall profitability of listed companies is expected to bottom up in the second half of the year, and structural opportunities are expected to gradually appear. At present, the static PE of CSI 300 is about 12 times, which has been below the central level for nearly 10 years.
Lei, chief research official of Xingshi investment, said that the current data showed that the price performance ratio of the stock market had reached an all-time high as market sentiment fell to the freezing point. In the future, our long-term confidence in A-Shares comes from the improvement of asset profit quality brought by China’s economic transformation and upgrading and long-term risk resolution, which is a solid foundation for the long-term improvement of a shares. Although the current macro environment is still complex, the current combination of macro factors may be at the worst critical point. Considering the strategic significance of steady growth this year, the more unfavorable the current environment is, it means that the follow-up policy forces will be more positive, and the positive factors are accumulating. Once the market pessimism is reversed, it will eventually drive the current oversold A-share market to return to long-term value. At present, a turnaround is brewing.
Zhao Yuanyuan, investment director of Jianhong times, said that it is optimistic that the economic recovery and the end of the market will appear from May to June. It is suggested that bargain hunting focus on upstream cyclical stocks with reversed fundamentals, such as steel, coal, nonferrous metals and chemical industry, as well as optional consumer goods, such as tourism, offline services, automobile industry chain and luxury goods.
Liu Youhua, deputy director of the research department of private placement network, said that the index fell generally today, and the gem fell below 2400 points, with a maximum decline of more than 3%. The differentiation of individual stocks is relatively serious. However, many individual stocks have shown a trend of resistance to decline. For the future, we think the market before May Day is mainly low-level shocks, and it is difficult for the market to have opportunities with high certainty. We suggest to be patient.
In terms of hot spots, on Wednesday, the concept sectors of unified big market, prefabricated vegetable concept, sugar substitute concept, condiment concept and community group purchase rose strongly, with an increase of more than 2%; The industry was led by tourism hotels and food and beverage. Coal, precious metals and steel industries led the list, with a decline of more than 4%.
hot spot: unified market sector rose 3 shares, daily limit
On April 20, the unified big market concept performed well. As of the closing, the sector rose by 3.40%. Among the individual stocks, Jiangsu Xinning Modern Logistics Co.Ltd(300013) , Guanghui Logistics Co.Ltd(600603) , San Yang Ma (Chongqing) Logistics Co.Ltd(001317) and other three concept stocks rose collectively.
In terms of news, the national teleconference on ensuring smooth logistics and promoting the stability of industrial chain and supply chain was held in Beijing. The meeting pointed out that efforts should be made to stabilize the supply chain of the industrial chain, leverage 1 trillion yuan of funds through 200 billion yuan of scientific and technological innovation refinancing and 100 billion yuan of refinancing used in the field of transportation and logistics, and establish a white list of key industries and foreign trade enterprises such as automobile, integrated circuit, consumer electronics, equipment manufacturing, agricultural materials, food and medicine.
freezing point: coal industry fell 4.44%
On Wednesday, the coal industry led the decline. The coal industry index reported 1037350 points, down 4.44%, with a turnover of 21.327.4 billion yuan and a turnover rate of 2.21%. Among the stocks in the sector, the top six stocks with the largest decline fell by more than 8%.
Although the performance of the sector is weak, institutions are still optimistic about investment opportunities in the coal industry. China Post Securities said that since the beginning of the year, the coal price has remained high, the market’s profit expectation for the sector has been rising, and the valuation level is at a low level, which is the basis for the continuous rise of the sector. At present, there is momentum effect, which can continue to attract capital attention. The overseas bulk inflation expectation is the main driver of the sector’s recent fluctuations, and the disturbing factors have not been eliminated. At this stage, the fundamentals, policy expectations and external environment are favorable for the repair and improvement of the sector. Combined with the certainty of high performance growth in the first half of the year, the sector configuration is reasonable.
