证券研究报告 | 策略点评 2026 年 03 月 20 日 投资要点 分析师：孟之绪 执业编号：S0300524080001 电话： 邮箱：mengzhixu@ykzq.com 投资策略研究 粤开市场日报-20260320 今日关注 指数涨跌情况：今日 A 股主要指数涨跌不一。截至收盘，沪指收跌 1.24%，报 3957.05 点；深证成指下跌 0.25%，报 13866.2 点；创业板指涨 1.30%，报 3352.1 点；科创 50 指数跌 1.55%，收报 1318.31 点。总体上，全天个股涨少跌多， Wind 数据显示，全市场仅 661 只个股上涨，4784 只个股下跌，43 只个股收平。 沪深两市今日成交额合计 22868 亿元，较上个交易日放量 1758 亿元。 行业涨跌情况：今日申万一级行业涨少跌多，仅有电力设备、通信、煤炭行 业上涨，涨幅分别为 1.55%、1.48%、0.10%，综合、计算机、国防军工、传媒、 美容护理等行业领跌，跌幅分别为 5.52%、3.83%、3.00%、2.98%、2.89%。 概念板块涨跌情况：今日涨幅居前的概念板块为光伏逆变器、电源设备精选、 光模块(CPO) ...

证券研究报告 | 策略点评 2026 年 03 月 17 日 投资要点 分析师：孟之绪 执业编号：S0300524080001 电话： 邮箱：mengzhixu@ykzq.com 投资策略研究 粤开市场日报-20260317 今日关注 指数涨跌情况：今日 A 股主要指数收跌。截止收盘，沪指下跌 0.85%，收报 4049.91 点；深证成指下跌 1.87%，报 14039.73 点；创业板指下跌 2.29%，报 3280.06 点；科创 50 指数跌 2.23%，收报 1354.15 点。总体上，全天个股涨 少跌多，Wind 数据显示，全市场仅 863 只个股上涨，4541 只个股下跌，81 只个股收平。沪深两市今日成交额合计 22079 亿元，较上个交易日缩量 1175 亿元。 行业涨跌情况：今日申万一级行业涨少跌多，非银金融、银行、食品饮料、 房地产行业上涨，涨幅分别为 1.28%、0.85%、0.55%、0.37%，通信、电子、 国防军工、机械设备、基础化工等行业领跌，跌幅分别为 4.69%、2.97%、2.57%、 2.50%、2.47%。 概念板块涨跌情况：今日涨幅居前的概念板块为近端次新股、保险精 ...

- The market experienced a broad decline today, with the CSI 2000 index performing relatively well among scale indices, and the SSE Composite Index performing better among sector indices[2][6] - The banking, real estate, textile and apparel, pharmaceutical, and comprehensive industries performed relatively well, while the electronics, communications, computer, media, and new energy industries performed poorly[2][7] - Market sentiment was relatively high today, with 90 stocks hitting the daily limit up and 9 stocks hitting the daily limit down at the close[2][12] - The financing balance as of November 13, 2025, was 24,882 billion yuan, and the securities lending balance was 184 billion yuan, with the total margin balance accounting for 2.5% of the market's circulating market value[2][17][20] - The ETF with the highest premium on November 13, 2025, was the Internet ETF Shanghai-Hong Kong-Shenzhen, with a premium of 0.59%, while the ETF with the highest discount was the Zhejiang Merchants Zhijiang Phoenix ETF, with a discount of 0.73%[3][21] - The median annualized discount rates for the main contracts of the SSE 50, CSI 300, CSI 500, and CSI 1000 index futures over the past year were 0.39%, 3.23%, 10.86%, and 13.33%, respectively[3][26] - The stock with the most institutional research over the past week was Boying Special Welding, which was researched by 79 institutions[4][28] - The top ten stocks with net inflows from institutional seats on the Dragon and Tiger List on November 14, 2025, included Time-Space Technology, Hailu Heavy Industry, Zhongyi Technology, Lianhua Technology, Kangzhi Pharmaceutical, Kangpeng Technology, Worth Buying, Chengda Pharmaceutical, Zhaoyi Innovation, and Minsheng Health[4][33]