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Pharmacy Trio Becomes King Cuan Today, When JCI Drops Over 1%

Jakarta, CNBC Indonesia – Trio of pharmaceutical stocks, PT Indofarma Tbk (INAF), PT Kimia Farma Tbk (KAEF) and PT Itama Ranoraya Tbk (IRRA) managed to become the top gainers today, Monday (28/6/2021).

Meanwhile, MNC Group banking shares PT Bank MNC Internasional Tbk (BABP) and PT Bank IBK Indonesia Tbk (AGRS) fell as top losers.

Composite Stock Price Index (JCI) ‘free fall’ today. JCI fell 1.38%, leaving the psychological level of 6,000, to 5,939,471 at the close of the second trading session on Monday (28/6).

According to IDX data, there were 139 stocks up, 380 stocks down and 117 stocks stagnant, with the transaction value reaching Rp 11.31 trillion and trading volume reaching 16.74 billion shares.

Foreign investors from the stock market have withdrawn from Indonesia with a record foreign net selling of Rp 224.36 billion in the regular market. Meanwhile, foreigners recorded net sales in the negotiating market and cash market of Rp 286.87 billion.

Here are 5 stocks for today’s second session of top gainers and losers (28/6).

Top Gainers

  1. Indofarma (INAF), shares +18.92%, to Rp 3,080, transaction Rp 33.2 M

  2. Itama Ranoraya (IRRA), +16.18%, to Rp 1,975, transaction Rp 120.1 M

  3. Chemical Pharmacy (KAEF), +16.07%, to Rp 3,250, transaction Rp 112.2 M

  4. Bank Syariah Indonesia (BRIS), +15.68%, to Rp 2,250, transaction Rp 971.8 M

  5. MNC Studios International (MSIN), +15.24%, to Rp 242, transaction Rp 88.7 M

Top Losers

  1. Primarindo Asia Infrastructure (BIMA), shares -6.62%, to Rp 127, transaction Rp 22.3 M

  2. International MNC Bank (BABP), -6.58%, to Rp 284, transaction Rp 77.0 M

  3. Bank IBK Indonesia (AGRS), -6.56%, to Rp 228, transaction Rp 39.8 M

  4. MNC Investama (BHIT), -6.38%, to Rp 88, transaction Rp 46.2 M

  5. PP Properti (PPRO), -6.25%, to IDR 75, transaction IDR 17.7 M

According to the data above, INAF shares scored the highest increase, which was 18.92% to Rp 3,080/share. The increase in INAF shares today continued their strengthening in trading on Friday (25/6) last week when this stock closed up 7.02%. In a week INAF shares have shot up 19.38%, while in a month jumped 41.94%.

The positive sentiment driving this stock increase is related to the Food and Drug Administration (BPOM) which has just announced that it will soon conduct clinical trials on Ivermectin produced by Indofarma as a Covid-19 drug.

Besides INAF’s shares, other pharmaceutical stocks, IRRA and KAEF, also jumped, by 16.18% and 16.07%, respectively.

In addition to the three stocks, shares of pharmaceutical issuers such as Pyridam Farma (PYFA) and Phapros (PEHA), for example, also rose by 7.77% and 6.03%, respectively.

As previously reported, Head of BPOM Penny Kusumastuti Lukito revealed that Ivermectin will soon be undergoing clinical trials as a Covid-19 drug. BOPM received Approval for Implementation of Clinical Trials (PPUK).

BPOM had previously issued a distribution permit for Ivermectin but as an anthelmintic.

“Clinical trials as a Covid-19 drug will be carried out immediately. Thank you, Minister of SOE Erick Thohir, who has concerns about access to handling Covid-19 drugs,” said Penny at a press conference with SOE Minister Erick Thohir, Monday (28/6/2021).

In contrast to the poles, BABP shares even touched the lower auto rejection limit (ARB) of 6.58% to Rp 284/share. On Friday, this stock edged up 0.66%.

Meanwhile, AGRS shares are also ARB 6.56% to Rp 228/share. With this, AGRS shares have fallen for 11 consecutive days, with 9 of them touching the ARB. In a week AGRS shares fell 29.19%, while in a month 48.18% ‘fall’.

CNBC INDONESIA RESEARCH TEAM

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