Brokerage firms' March top stocks announced: Oil and petrochemical stocks lead in increased allocation, Zhongji Xuchuang is the hottest.

In March, amid the intertwining of domestic and international variables, which sectors and stocks do major brokerages favor in the A-share market?

Overall, in terms of industries, electronics remained the most heavily weighted sector among the top stocks in March. From a relative change perspective, the oil and petrochemical industry saw the largest increase in allocation among the top stocks. Conversely, sectors like machinery, non-bank financials, and computers experienced a significant decrease in weight within brokerages’ top stock picks for March.

Regarding individual stocks, data from Kaiyuan Securities shows that after deduplicating the top stocks recommended by 37 brokerages across the market, ZTE Xuchuang (300308) was the most popular.

Oil and Petrochemicals Lead in Increased Allocation, Shift Toward Growth Style

In terms of industries, Guosen Securities’ research indicates that after deduplication, the brokerages’ top stock pools in March 2026 had high allocations in electronics, basic chemicals, non-ferrous metals, machinery, power equipment, and new energy sectors.

Data from Kaiyuan Securities also shows that the electronics sector had the highest weight among brokerages’ top stocks in March, accounting for 13.0%. Non-ferrous metals followed closely with 8.9%, while basic chemicals and power equipment held 7.5% and 6.9%, respectively.

Regarding changes in sector weights, multiple brokerage reports indicate that oil and petrochemicals experienced a notable increase in weight among March’s top stocks.

Guosen Securities’ data shows that compared to February 2026, the sectors with the largest increases in brokerage top stocks in March were oil and petrochemicals, light industry manufacturing, and steel, with growth rates of 2.62%, 1.22%, and 1.11%, respectively.

Kaiyuan Securities’ analysis highlights that relative to previous months, brokerages increased their holdings in oil and chemical, defense military industry, and agriculture, forestry, animal husbandry, and fishery sectors by 1.3%, 1.1%, and 1.0%, respectively.

In terms of reductions, data from Guosen and Kaiyuan Securities show that sectors like machinery, non-bank financials, and computers saw significant decreases in weight in March 2026.

Kaiyuan Securities’ data indicates that the sectors with the largest weight reductions were machinery equipment, non-bank financials, and computers, decreasing by 2.2%, 2.2%, and 1.4%. Guosen Securities reports decreases of 3.01%, 2.40%, and 2.22% in these sectors, respectively.

“Market value levels of brokerages’ top stocks declined in March, while valuation levels rose, possibly indicating a shift toward a growth style,” said Kaiyuan Securities.

Zhongji Xuchuang Has the Highest Popularity

On the individual stock level, Kaiyuan Securities’ data shows that among the stocks recommended by various brokerages in March 2026, Zhongji Xuchuang (300308) was recommended the most, with a total of 7 recommendations.

China Jushi (600176) and Zijin Mining (601899) followed closely, each with 6 recommendations. Shoulv Hotel (600258) and Luoyang Molybdenum (603993) ranked third, each with 5 recommendations.

Other stocks like Kweichow Moutai (600519), Perfect World (002624), CATL (300750), Hengli Petrochemical (600346), Anjoy Food (603345), and Haiguang Information (688041) were each recommended 4 times.

Yankuang Energy (600188), Rongsheng Petrochemical (002493), Jereh Group (002353), and Beijing Junzheng (300223) each received 3 recommendations.

Among the new stocks added to the top stock list in March (compared to February 2026), Cambrian (688256) and Xinfengming (603225) were recommended the most, each with 4 recommendations. COSCO Shipping (601872) followed with 3 recommendations.

Other stocks like Lu’an Environmental Energy (601699), Kega Precision Machinery (301338), Tigermed (300374), Weiming Environmental Protection (603568), Huatai Securities (601688), Chuanheng Co., Ltd. (002895), Yongding Co., Ltd. (600105), Jepu Technology (688025), Lianlian Technology (301606), Yifan Pharmaceutical (002019), China Railway (601390), each received 2 recommendations.

CIMC Group (000039) was recommended once.

In terms of hot industries, the most popular stocks in the electronics sector were Cambrian and Haiguang Information, each recommended 4 times. The non-ferrous metals sector’s top stock was Zijin Mining, recommended 6 times. The basic chemicals sector’s hottest stock was Xinfengming, recommended 4 times.

In the power sector, CATL was recommended 4 times; in machinery, Jereh Group received 3 recommendations.

Other popular industries include pharmaceuticals and biotech, with Yifan Pharmaceutical, Tigermed, WuXi Kangkang, Guobang Pharmaceutical, and Yirui Technology receiving the most recommendations. In communications, Zhongji Xuchuang was the most popular. In food and beverages, Kweichow Moutai and Anjoy Food received the most recommendations. In defense and military, Hangyu Technology ranked first in recommendations.

In the automotive sector, JAC Motors attracted the most attention. In oil and petrochemicals, Hengli Petrochemical was the hottest. In non-bank financials, CITIC Securities, Ping An Insurance, New China Insurance, and Huatai Securities tied for the most recommendations.

Market analysts say that if a stock in the brokerage’s top stock pool has relatively low market attention initially, its recommendation as a top stock by analysts can significantly boost its market focus. Therefore, it is possible to identify brokerage top stocks that previously received less market attention.

“To some extent, most brokerages’ disclosed top ten stocks at the beginning of each month reflect analysts’ consensus expectations. Additionally, brokerage top stocks incorporate forward-looking insights from quantitative analysis systems that absorb fundamental research,” said a chief analyst of financial engineering at a Shanghai-based brokerage. “However, as market attention to brokerage top stocks increases, investors still need to further select stocks within the top stock pool to achieve higher excess returns.”