JCI Drops More than 2%, These Are the Trigger Stocks!

Jakarta, CNBC Indonesia – In the midst of the Composite Stock Price Index (JCI) dropping 2%, big cap stocks also fell under pressure from selling action by foreign investors in the session continued. second session of trading today, Friday (11/26/2021).

The weakening of the JCI occurred in the midst of a large sell-off by foreign investors and concerns getting worse pandemic in the midst of the emergence of the latest variant of the virus Covid-19 that could counteract the vaccine.

According to data from the Indonesia Stock Exchange (IDX), At 14:46 WIB, the benchmark national stock index fell 2.16%, leaving the psychological level of 6,600, to 6,555.22.

Only 86 stocks rose, 482 stocks fell, and 101 stocks did not move. The transaction value reached Rp. 14.88 trillion and the trading volume was 26.57 billion.

Foreign investors flocked out of the domestic market with a net sell of Rp 130.04 billion in the regular market and Rp 66.57 billion in the negotiation market and cash market.

Here are the big cap stocks that fell this afternoon.

1. Astra International (ASII), shares -5.22%, to Rp 5,900/share, net sell Rp 69.3 B

2. Bank Negara Indonesia (BBNI), -4.18%, to Rp 6,875/share, net sell Rp 65.4 B

3. Bank Mandiri (BMRI), -3.06%, to Rp. 7,125/share, net sell of Rp. 12.9 M

4. Unilever Indonesia (UNVR), -2.90%, to Rp 4,680/share, net by Rp 286.54 million

5. Bank Jago (ARTO), -2.80%, to Rp. 14,775/share, net sell of Rp. 7.18 M

6. Hanjaya Mandala Sampoerna (HMSP), -1.95%, to Rp 1,005/share, net sell Rp 641.96 million

7. Chandra Asri Petrochemical (TPIA), -1.75%, to Rp 7,025/share, net sell Rp 1.47 B

8. Bank Central Asia (BBCA), -1.35%, to Rp 7,325/share, net sell Rp 283.4 B

9. Bank Rakyat Indonesia (BBRI), -1.18%, to Rp 4,170/share, net sell Rp 38.2 B

10. Elang Mahkota Teknologi (EMTK), -0.81%, to Rp 1,845/share, net buy Rp 12.31 M

Of the 10 big cap stocks above, BBCA bank shares, which incidentally have the largest market capitalization on the stock exchange, were sold by foreign investors to reach Rp 283.4 billion in the regular market. This figure is the largest net selling by foreigners on the stock exchange today.

BBCA’s shares were minus 1.35% to Rp 7,325/share, continuing yesterday’s 0.67% correction.

Meanwhile, the Astra ASII Group’s automotive shares fell the most, at 5.22% to Rp 5,900/share, accompanied by foreign selling of Rp 69.3 billion. In a week ASII shares were minus 5.22%, while in a month they fell 2.07%.

Other shares of the Astra Group, mining issuer PT United Tractors Tbk (UNTR) were also sold by foreigners to reach Rp 52.3 billion. UNTR’s market capitalization currently reaches Rp. 81.50 trillion.

In the same vein, the trio of shares of state-owned banks, BBNI, BMRI, and BBRI, were also both immersed in the red zone after being sold by foreigners. BBNI shares fell 4.18%, with a net sell value of Rp 65.4 billion, the third largest on the stock exchange.

Then, BMRI’s shares fell 3.06% with a net sell of Rp 12.9 billion. Finally, BBRI’s shares were also sold by foreigners up to Rp 38.2 billion and made the shares fall 1.18%.

The JCI correction occurred in the midst of the collapse of the majority of Asian markets. This afternoon, Japan’s Nikkei Index led the way with a 2.53% correction, while Hong Kong’s Hang Seng dropped 2.69%, South Korea’s KOSPI dropped 1.47%, Singapore’s Strait Times index fell 1.92%. None of the major markets in Asia strengthened.

Futures contract (futures) the stock market index of the United States (US) was also depressed as the news the emergence of the latest variant of the corona virus (Covid-19) with a spike in mutations, namely B.1.1.529. Dow Jones futures are down 2.06% this afternoon. Nasdaq futures were also minus 0.84% ​​and S&P 500 futures were down 1.51%.

The new Covid-19 variant has been detected in South Africa and has mutated to become more resistant to antibodies, thereby reducing the effectiveness of the vaccine and simultaneously being more infectious.

The World Health Organization (WHO) said it was requesting an emergency meeting to monitor the variant. This is important amid the increasing number of Covid-19 cases in Europe and the world which is entering the year-end holiday season.

CNBC INDONESIA RESEARCH TEAM

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