Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed with a significant collapse in the first trading post after the long Eid al-Fitr holiday in 2022.
Until the close of trading Monday (9/5/2022), the JCI was observed to have fallen by 4.42% at the level of 6,909.75. JCI was forced to collapse below the psychological level of 7,000 in today’s trading.
Even now the JCI is near the psychological level of 6,900. Along with the decline in the JCI, foreign investors net sell jumbo of Rp 2.6 trillion.
One of the main reasons is that the giant banks that were originally mighty since the beginning of the year due to their brilliant financial performance also collapsed in today’s trading, some of which even reached the limit. auto rejection bottom (ARB) and led the daily weakness.
This condition is almost similar to what happened at the beginning of the pandemic period about two years ago, where on March 13, 2020, not long after the first case of corona was discovered in Indonesia, a giant bank collapsed, with the JCI weakening to 5% and causing trading to be suspended for 30 minutes. .
At that time, the shares of giant banks such as PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), PT BNI Tbk (BBNI), PT PAN Indonesia Tbk (PNBN) and PT Danamon Tbk (BDMN) fell more than 6.60 % and some even had ARBs. Meanwhile, BCA’s stock at that time also collapsed 5,58%.
Today, even though the shares of the Indonesian giant banks were corrected again, trading was able to close in full time because the index did not fall more than 5%.
The following is the stock performance of four of Indonesia’s giant banks that makes investors heartbroken.
First, there is the stock of Bank Mandiri (BMRI) whose ARB after dropping 6.98% and the price is at Rp. 8,325/unit. Foreigners recorded selling off Rp 109.6 billion in this issuer.
In the second position, there were shares of Bank Rakyat Indonesia (BBRI) which also experienced ARB and the price dropped 6.98% to the level of Rp. 4,530/unit. This stock is ranked as the second most issued foreign exchange today with net sell reached Rp 687.9 billion.
In the third position, there are shares of Bank Central Asia (BBCA) whose price was corrected by 6.46% and was at Rp 7,600/unit. Issuers belonging to Indonesia’s richest tycoons are the shares most released by foreigners today, net sell penetrated Rp. 1 trillion or in detail reached Rp. 1.4 trillion.
In fourth position is Bank Negara Indonesia (BBNI) whose price dropped 5.42% and was at Rp 8,725/unit. BBNI is also one of the 10 stocks most sold by foreign investors, with a value of net sell amounting to Rp. 71.1 billion.
Before the long holiday celebrating Eid and collective leave, since the beginning of the year the four stocks have experienced a rally in price increases. This is supported by excellent financial performance and the potential for jumbo dividend payments to shareholders.
CNBC INDONESIA RESEARCH TEAM
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