股指期货全景日报-20260325

Report Industry Investment Rating - Not provided in the content Core Viewpoints - A股 major indices closed significantly higher, with the Shanghai Composite Index returning to 3900 points. Small and mid - cap stocks outperformed large - cap blue - chip stocks. The turnover of the Shanghai and Shenzhen stock markets increased slightly, and nearly 4900 stocks rose. Most industry sectors rose, while coal and petroleum and petrochemical sectors fell. Overseas, the US proposed a one - month cease - fire plan to discuss an agreement to end the war with Iran, causing international oil prices to drop. Domestically, the economic fundamentals in 2026 showed a good start, and the performance of listed companies that have disclosed 2025 annual reports is generally good. However, due to the ongoing war, the risk of negotiation breakdown should be vigilant, and caution is still needed before the war ends [2] Summary by Relevant Catalogs Futures Market - Futures Contract Prices: IF (2606) was at 4450.0, up 70.4; IF (2604) was at 4505.6, up 69.0. IH (2606) was at 2830.0, up 22.6; IH (2604) was at 2848.0, up 26.0. IC (2606) was at 7530.0, up 160.2; IC (2604) was at 7685.6, up 164.2. IM (2606) was at 7477.4, up 127.2; IM (2604) was at 7650.0, up 131.4 [2] - Futures Price Spreads: IF - IH spread was 1657.6, up 34.4; IC - IF spread was 3180.0, up 74.6; IM - IC spread was - 35.6, down 33.4; IC - IH spread was 4837.6, up 109.0; IM - IF spread was 3144.4, up 41.2; IM - IH spread was 4802.0, up 75.6 [2] - Quarter - to - Month Spreads: IF quarter - to - month was - 55.6, up 5.4; IF next - quarter - to - month was - 141.2, up 3.0; IH quarter - to - month was - 18.0, down 2.4; IH next - quarter - to - month was - 54.8, down 1.6; IC quarter - to - month was - 155.6, down 10.4; IC next - quarter - to - month was - 330.6, down 15.2; IM quarter - to - month was - 172.6, down 7.2; IM next - quarter - to - month was - 397, down 18.0 [2] - Futures Net Positions: IF top 20 net positions were 22,830.00, down 356.0; IH top 20 net positions were 20,599.00, down 309.0; IC top 20 net positions were 28,867.00, down 1879.0; IM top 20 net positions were 49,975.00, down 79.0 [2] Spot Market - Spot Prices: CSI 300 was at 4537.47, up 62.7; SSE 50 was at 2859.5, up 28.7; CSI 500 was at 7767.7, up 170.3; CSI 1000 was at 7751.2, up 150.3 [2] - Basis: IF main contract basis was - 87.5, down 1.2; IH main contract basis was - 29.5, down 9.3; IC main contract basis was - 237.7, down 49.9; IM main contract basis was - 273.8, down 60.1 [2] Market Sentiment - Market Volume and Balance: A - share turnover was 21,928.53 billion yuan, up 967.83 billion yuan; margin trading balance was 26,135.99 billion yuan, down 64.32 billion yuan; north - bound trading volume was 2892.86 billion yuan, down 630.55 billion yuan; reverse repurchase was - 205.0 billion yuan, up 785.0 billion yuan; MLF was 5000 billion yuan, up 500 billion yuan [2] - Other Indicators: The proportion of rising stocks was 88.74%, down 4.81%; Shibor was 1.319%, up 0.001%; IO at - the - money call option closing price was 54.20, up 11.20; IO at - the - money call option implied volatility was 15.60%, down 2.19%; IO at - the - money put option closing price was 94.20, down 52.00; IO at - the - money put option implied volatility was 15.61%, down 2.35%; CSI 300 20 - day volatility was 18.05%, up 0.70%; volume PCR was 61.44%, down 4.73%; position PCR was 65.42%, up 2.77% [2] Wind Market Strength and Weakness Analysis - All A - shares were at 8.30, down 0.30; technical aspect was at 8.90, down 0.40; capital aspect was at 7.70, down 0.10 [2] Industry News - The US government proposed a 15 - item plan to end the conflict with Iran through Pakistan, including requirements on nuclear programs, missile capabilities, and regional issues. In exchange, Iran may get sanctions lifted, US support for civilian nuclear projects, and the cancellation of the "snap - back sanctions" mechanism. The US is considering a one - month cease - fire for further negotiations [2] Key Focus - On March 27 at 9:30, China's industrial enterprise profits for February will be released [3]