Monday's A-shares were both exciting and boring, the rapid rise of the index in the morning was followed by a rapid decline, and the micro-cap stocks fell sharply, but with the rapid rise of the index constituents, the major indices began to rise again, and this roller coaster was very exciting. However, after the stimulation time, from half past 10 to two o'clock in the afternoon, the major indices began to fluctuate steadily, which made people want to sleep and boring, and there was a V at the end of the market from two o'clock. Today's market is estimated to be a two-tier differentiation for constituent stocks and non-constituent stocks, and the specific reasons are revealed through data.
Today's A-share data:
Today, the trading volume of individual stocks in the two cities was 997.1 billion yuan, an increase of 23% from the previous trading day. The main net outflow of the two cities was 22.8 billion yuan, mainly concentrated in the opening half an hour of the morning and after two o'clock in the afternoon, which coincided with the adjustment time of the major indexes. Northbound funds bought a net of 810.8 billion yuan today, but they were mainly concentrated in the morning half an hour, and then they have been tepid. On the whole, the main funds of domestic and foreign capital are still bullish today, so the index rises more and falls less.
Today's ratio of individual stocks in the two cities is: 1:3.33, 26 up limits, 317 down limits, today's money-making effect is poor, and more conspicuously the number of down limits has increased significantly, in the final analysis, it is the "national nine" that has led to a large number of funds sold from micro-cap stocks, resulting in a lack of liquidity in micro-cap stocks. On the abnormal sector: the insurance, medium and special stocks, and Mao indices in today's weights all performed better, while precious metals and micro-cap stocks performed weakly.
In the list of gainers and losers: ships, transportation equipment, insurance, telecommunications operations, and Zhongzitou ranked among the top five gainers, and micro-cap stocks, aquatic products, shell resources, disperse dyes, and active small-cap Feirong ranked among the top five decliners. Driven by funds: the top five net purchases of large-cap stocks, MSCI components, northbound heavy positions, medium special valuation, and fund heavy positions, and the top five net sellers of continuous losses, Zhejiang plates, Jiangsu plates, artificial intelligence, and specialized and special new funds.
Judging from the data, today's volume rebounded, with a large net outflow of domestic capital, and a net purchase of more northbound, but this domestic main force is actually more in the adjustment of positions, so it has also led to the increase in the volume of the two cities. At the same time, due to the inflow of a large number of funds such as weights, constituent stocks, and special valuations today, while the concept sectors such as micro-cap stocks and continuous losses mainly fell and sold netly, individual stocks have also been extremely differentiated, and this differentiation is difficult to end for the time being.
Outlook on the market:
After the new "National Nine Articles" came out last Friday, today's market as a whole is still dominated by positive feedback, at least a lot of net buying efforts in the north. However, it remains to be seen whether the net buying strength of the northbound, the volume of the market, and the differentiation of individual stocks will continue. It is more likely that the first half of the week is strong, and the second half of the week is weak. After all, it is not bad to have weights and medium and special stocks, but there are still group funds in it before, and it is more difficult to set off a wave of market without new continuous incremental funds.
Although I mainly hold index funds, today's rise is a gain, but I have no intention of operating it for the time being. Continue to wait for the opportunity that arises when the adjustment occurs.
The above are today's market notes, which are only used as personal daily reflections on the market and are not intended as trading advice. Investment is risky and should be traded with caution.
I focus on indexed investment, advocating the theory of stock market cycles and comprehensive allocation. Daily update of A-share review logs and fund real trading notes. The above content is only a testimony of the unity of knowledge and action in your own investment, and friends who are interested in indexation investment are welcome to leave a message or pay attention to not get lost.