Check out the recommendations for property stocks that are the top gainers today (19/11)

ILLUSTRATION. JCI closed 0.66% higher at 5,594.06 on Thursday (19/11) trading.

Reporter: The first is blessed | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) closed up 0.66% at 5,594.06 on Thursday (19/11) trading. Stocks that drive the strengthening of this index are filled by the property sector.

Call it the share price of PT Agung Podomoro Land Tbk (APLN) which rose 35% to Rp 162, the share price of PT Alam Sutera Realty Tbk (ASRI) which rose 29.9% to Rp 252, the share price of PT Lippo Karawaci Tbk (LPKR) which rose 19.4% to the level of Rp 160, said PT Intiland Development Tbk (DILD) which rose 14.55% to the price of Rp 189 and PT Bekasi Fajar Industrial Estate Tbk (BEST) rose 8% to the level of Rp 189 per share.

Main Services Analyst at Capital Sekuritas Chris Apriliony said that the increase in property stocks was driven by sentiment on cutting Bank Indonesia (BI) interest rates by 25 basis points (bps) to 3.75 percent. “The cut in BI’s interest rate can boost the performance of property issuers because mortgages can also be cheaper,” said Chris, Thursday (19/11).

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Although driven by positive sentiment, Chris predicts this strengthening will only be short-term, especially because there has been strengthening in the last few days so that there is a chance for a correction.

However, in the long term, property issuers still have the opportunity to increase higher at the end of the year because the decline in stocks in this sector tends to be quite deep. When viewed from the property index and construction sector stocks still corrected 31.03% since the beginning of the year.

Chris still recommends buy on weakness for stocks ASRI at the level of Rp 230-Rp 240 per share, APLN at the level of Rp 150-Rp 155 per share and BEST at the current price level.

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Also Read: JCI strengthened for five consecutive days until Thursday (19/11), accumulated a week of 2.48%