On April 29, the stock indexes of the two cities fluctuated in a narrow range in the morning and rose strongly in the afternoon. The Shanghai index rose 2.4% to return above 3000 points, the Shenzhen Composite Index rose more than 3.5% to recover 11000 points, and the gem index rose more than 4% to recover 2300 points. The turnover of the two cities was significantly enlarged, with a full day turnover of more than 960 billion yuan. On the disk, education, home furnishings, automobiles, software, home appliances, retail and other sectors led the rise, while medicine, nonferrous metals, securities companies, petroleum, chemical industry, lithium and other sectors all rose; Yuan universe, online games, hepatitis concept and other themes showed brilliant performance. As of the close, the Shanghai index rose 2.41% to 304706 points, the Shenzhen Composite Index rose 3.69% to 1102144 points, and the gem index rose 4.11% to 231914 points; The total turnover of the two cities was 965 billion yuan.
In this regard, Yuanda pointed out that today’s market sentiment has rebounded significantly. Although the index is still in shock and the closing rise and fall is unknown, at present, from the perspective of individual stocks, it has both the right to protect the market of major finance and the performance of various themes. The trend of individual stocks is relatively balanced. The vast majority of sectors rise, the performance of large-scale sectors is strong, and the risk of index decline is small. However, under the general rise of individual stocks, we still need to be more rational. At present, the market has just improved for one day and there is no sustainable main line, so we can pay appropriate attention to the disk today and look for sustainable hot spots after the festival.
Rongwei Securities believes that technically, the emotions of the two cities have been effectively vented after the oversold, and the short-term kinetic energy has failed. The decline of individual stocks came to an end temporarily, and the Shanghai index returned to above 3000 points. The market rebound route follows the main line of performance exceeding expectations and consumption after the recovery of the epidemic. Infrastructure investment, foreign trade and other sectors also rise alternately. Steady growth is the main line of the market this year. The three directions of consumption, investment and export trade can be arranged on bargain hunting, and the position should be controlled below 5 floors as far as possible. The market will also gradually strengthen. After the May Day holiday, the haze of the epidemic will gradually dissipate. Holding shares for the holiday may be a better choice.
Sealand Securities Co.Ltd(000750) pointed out that after the rapid decline of the market, the catalyst for the market to stabilize and open the oversold rebound includes signs of improvement in fundamentals, policy care and the mitigation of some negative factors. The subsequent market will usher in an oversold rebound. There are three main catalytic factors. First, with the three rounds of decline in the market since the beginning of the year, each index has gradually entered the value range, and the valuation quantile of each major index has been in a relatively cheap position. Cheap is the last word. Second, the gradual easing of China’s point epidemic is the general trend. After effectively controlling the epidemic, we will focus on economic construction, strive to achieve the expected goal of economic and social development throughout the year, and keep the economic operation within a reasonable range. China is still an economy with rapid growth worldwide this year. Third, the policy tone is obviously warm, and with the arrival of the performance window period, the negative factors affecting the market risk appetite will be mitigated, and the market will usher in the repair and enter the stage of feasibility.
The agency believes that it is structurally optimistic about the oversold rebound of consumption and growth. In the medium term, the consumption in the bottom grinding stage is dominant, focusing on two sub sectors: first, the food and beverage, catering and tourism, hotel, automobile, household appliances and other industries that have been fully adjusted and benefited from the marginal improvement of the epidemic; Second, medicine and biology with low valuation. On the other hand, the policy tone is relatively warm. After the sharp decline in the early stage, the configuration value of growth style appears. It pays attention to the opportunities of oversold rebound, and focuses on the Internet, new energy, national defense and military industry, TMT, etc.
