Jakarta, CNBC Indonesia – A total of four constituent stocks of the LQ45 Index, one of the main reference indices in the Indonesian stock market, in fact, sharply corrected from January to trading last Thursday (22/7/2021) or on a yearly basis (year to date).
Data from the Indonesia Stock Exchange (IDX) recorded that the four stocks in LQ45 were PT Unilever Indonesia Tbk (UNVR), PT Wijaya Karya Tbk (WIKA), PT Perusahaan Gas Negara Tbk (PGAS), and PT Indah Kiat Pulp and Paper Tbk (INKP). ). The four members LQ45 for the period February-July 2021.
These four stocks are included in the 10 stocks with the deepest correction records during the year. The most severe correction was recorded by trading issuer PT Putra Rajawali Kencana Tbk (PURA) which was not included in the LQ45 Index.
In terms of the index, up to yesterday’s trading, the Jakarta Composite Index (JCI) during the period ytd was actually able to gain 2.65%.
In yesterday’s trading, the JCI closed with an appreciation of 1.78% to 6,137.54.
Yesterday’s strengthening of the JCI occurred amid a decline in daily domestic Covid-19 cases, although still relatively high and the announcement by Bank Indonesia (BI) to hold its benchmark interest rate, the BI 7 Day Reserve Repo Rate.
The following are stocks that have fallen short from January to Thursday.
Top 10 Losers Since January-22 July 2021
1. Putra Rajawali (PURA), shares -59.35% IDR 50, transaction IDR 6.3 T
2. Waskita Beton (WSBP), shares -48.91% IDR 140, transaction IDR 5.6 T
3. Wijaya Karya (WIKA), shares -44.84% Rp 1,095, transaction Rp 9.4 T
4. PGN (PGAS), shares -35.65% Rp 1,065, transaction Rp 29.7 T
5. Waskita Karya (WSKT), shares -32.64% Rp 970, transaction Rp 24 T
6. Unilever (UNVR), shares -31.63% IDR 5,025, transaction IDR 14.8 T
7. Bank KB Bukopin (BBKP), shares -29.39% IDR 406, transaction IDR 19 T
8. Buana Lintas (BULL), shares -28.57% IDR 250, transaction IDR 14.3 T
9. Kapuas Prima (ZINC), shares -26.84% Rp 139, transaction Rp 9.2 T
10. Indah Kiat (INKP), shares -24.22% Rp 7,900, transaction Rp 13.8 T
According to IDX data, the stock with the deepest correction was PURA. In terms of performance, in its press release, PURA is still recorded a profit for the year of Rp 3.88 billion, an increase of 6.91% in the 1/2021 quarter compared to the same period in 2020 of Rp 3.63 billion.
This increase was driven by an increase in revenue to Rp 40.11 billion, an increase of 9.53% from the period ended March 31, 2020 of Rp 36.62 billion.
PURA focuses on freight transportation services that also provide multimodal transportation services. The company was founded in 2012 and listed on the IDX on January 29, 2020.
Meanwhile, the lowest correction was recorded by the Sinarmas Group paper company, PT Indah Kiat Pulp and Paper Tbk (INKP). As of March 2021, INKP posted a net profit of US$ 139.27 million or equivalent to Rp. 1.94 trillion (assuming an exchange rate of Rp. 14,000/US$).
This revenue decreased by 22.32% from the previous year of US$ 179.30 million or Rp. 2.51 trillion.
Net sales of this issuer of Tissue Paseo producers were recorded at US$ 801.27 million or around Rp 11.21 trillion, up from the first quarter 2020 period of US$ 780.47 million or Rp 10.92 trillion.
On the other hand, related to future stock market projections, research by PT Mirae Asset Sekuritas Indonesia also shows market optimism. This optimistic view is in line with the government’s vaccination program to achieve herd immunity, which makes JCI remain ‘immune’ amid the surge in daily Covid-19 cases in the country.
According to research analyst Mirae Asset Sekuritas, Hariyanto Wijaya, in his research on Monday (12/7/2021), Indonesia plans to get out of the Covid-19 pandemic through vaccination to achieve group immunity.
“We don’t think the JCI will collapse despite the recent spike in Covid-19 cases,” said Hariyanto in his research, quoted by CNBC Indonesia.
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