[stock market close] the three major A-share indexes fluctuated at low levels in the chemical industry, cobalt, small metals, titanium dioxide and other sectors leading the decline.

Today, the afternoon lows of the three major A-share indexes fluctuated, market sentiment was low, only more than 800 stocks rose, nearly 140 stocks fell by the limit (excluding St shares), and the turnover in Shanghai and Shenzhen exceeded 1 trillion yuan for the 47th consecutive trading day. Liquor stocks are strong, Luzhou laojiao, Wuliangye and other stocks rose by the daily limit, Guizhou Moutai rose 9.5%, with a turnover of 23.2 billion yuan. The electric power plate warmed up in the afternoon, with Mindong Electric Power and Leshan Electric Power rising by the daily limit, but there were still more than 10 shares falling by the daily limit. Brokerage stocks fell in the afternoon, and Oriental Securities approached the limit. From the disk, chicken, liquor, pork, super brands and other sectors rose in the forefront, chemical, cobalt, small metals, titanium dioxide and other plates led the decline. By the close, the Prev index was down 0.84%, the Shenzhen index was down 0.09%, and the gem index was up 0.74%. Northbound funds bought 1.477 billion yuan net throughout the day, of which Shenzhen stocks bought 1.282 billion yuan net.

For the future market trend, institutions have expressed their views.

Haitong Securities pointed out that strategically, the overall market is still in the process of adjustment, although the trading volume remains above trillion yuan, but there are signs of gradual shrinkage, indicating that market activity is declining. This week is only four trading days away from the National Day holiday, the weak arrangement of the technical side and the effect of the long holiday will lead to a great increase in the risk aversion tendency of market funds. From a historical review, the probability of the Shenzhen Composite Index and the gem Index rising in the week before the National Day is 60%, and the Prev Index is up 40%. It is expected that the market will not fluctuate much before the festival. After returning from the long holiday, the stock market's growth rate and winning rate will increase significantly, and the stock index will close with a victory rate of 80-90% in the week after the holiday, with an average increase of about 2-3%, so we are more inclined to advise investors to pay more attention to the post-holiday upside opportunities. Operationally, there have been two winds in the market this year. The new energy industry chain from the end of March to July stems from the higher-than-expected sales of new energy vehicles, and the resource stocks from the end of July to the present are due to the rapid rise in product prices. At present, the third wind has arrived, with the promotion of stable growth policies and positive signals in Sino-US relations, big financial and infrastructure-related manufacturing industries are expected to benefit, and investors can lay out in advance to seize the opportunity of low suction of the gold pit that has emerged in the stock index.

Huafu Securities pointed out that looking forward to next week, approaching the National Day holiday, transaction activity is expected to continue to decline, but it can be observed that the central bank has started liquidity stability maintenance operations ahead of schedule (maintaining a reverse repurchase operation of 120 billion yuan for three consecutive days), proving that there is an adequate supply of funds across seasons, so the focus is still on the rhythm of plate rotation under the stock fund game. Last week, the big consumption style has a more obvious rebound, as the holiday approaches, there may be the cash of profits, pay attention to the risk of volatility.

Guosheng Securities pointed out that technically, the weekly K line of the Shanghai Composite Index is a small positive line, and the market is in a concussion range. It is expected that the interval shock pattern will end before the festival, and a new round of rise may be carried out after the festival, and a good layout can be made before the festival. Pay close attention to the recent changes in the industry may become the mainstream investment varieties after the festival.