Those who hold these 5 stocks are still cash when the JCI plummets for a week

Jakarta, CNBC Indonesia – When the Composite Stock Price Index (JCI) slumped, there were at least 5 stocks that managed to appear mighty throughout the week. In fact, the increase in the shares of the top gainers reached 61%.

According to data from the Indonesia Stock Exchange (IDX), the JCI fell 8.73 percent in a week to 6,597.99.

Inevitably, the JCI’s performance throughout the year now only has a slight appreciation of 0.25%, which means that the JCI rally for the first 4 months of 2022 (ytd) has almost been wiped out.

However, referring to IDX data, currently the JCI is still in the second best ytd position in the Asia-Pacific region, below the Straits Times (Singapore) index which is still up 1.82% ytd.

Throughout trading ahead of this weekend, foreign investors recorded selling shares amounting to Rp 9.11 trillion. In the regular market, net sales made by foreign investors reached Rp 8.41 trillion.

The average daily transaction volume of the stock exchange fell by 11.56 percent to 21.57 billion shares from 24.39 billion shares at the close of the previous week.

Then, the average daily exchange transaction value this week also decreased by 14.63% to Rp 20.45 trillion from Rp 23.95 trillion at the close of last week.

Top 5 Stocks Gainers of the Week

Source: AT

Looking at the data above, ESTA shares led the week -long gain with a 61.70%jump. The stock only squeezed once this week. Source: IDX

With this price increase, the IDX will inform you of an unusual increase in stock prices or unusual market activity (UMA) on ESTA shares, Wednesday (11/5/2022).

However, to note, the announcement of the UMA does not necessarily indicate a violation of the laws and regulations in the capital market sector.

Responding to UMA from the stock exchange, in a letter Thursday (12/5), ESTA management said that there was no material information that the company had not submitted to the public.

“The Company does not know the truth/untruth of some/all of the information concerning the Listed Company that is circulating as rumors or circulating in the mass media that affects the Company’s share price,” explained ESTA.

The latest information regarding ESTA is information on May 9, 2022 which was published through the website of the PT Bursa Efek Indonesia (“Bursa”), also related to the monthly report on the registration of securities holders.

In addition to ESTA shares, SGER shares also soared 51.58% during the week.

The company’s latest significant news is about SGER’s financial performance in 2021. The company managed to record a pretty good financial performance throughout 2021, where SGER managed to record a net profit of Rp 200.45 billion. This figure jumped by 550% from the company’s net profit in the 2020 financial year which only reached Rp 27.35 billion.

In addition, the company’s revenue also jumped by IDR 93.1% to IDR 3.92 trillion in 2021, from the previous year in 2020 of IDR 2.03 trillion.

LAND and LTLS shares also performed well this week, rising 49.02% and 40.22%, respectively.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]