Jakarta, CNBC Indonesia – The buying action of investors at the end of last week’s trading was quite massive. This lifted the pace of the domestic stock market to the green zone with a 0.38% gain to 6,133.24 points.
Trade data noted, on Friday (17/9/2021) yesterday, the transaction value reached Rp 16.15 trillion with net purchases of foreign investors reaching Rp 598.28 billion.
Shares of PT Bank Rakyat Indonesia Tbk (BBRI) became the shares with the highest transaction value of the 10 most traded stocks with a transaction value of Rp 1.54 trillion.
Second, is PT Bank Central Asia Tbk (BBCA) with a transaction value of Rp 982 billion and the third is occupied by a digital bank issuer, PT Bank Jago Tbk (ARTO) worth Rp 853 billion.
Vice President of PT Samuel Sekuritas Indonesia, Muhammad Al Fatih, said that currently the blue chip stocks on the IDX have shown positive movements in the midst of the JCI trend which is still moving sideways.
“JCI is still sideways, if the JCI is trending up, we see blue chip stocks as the biggest weight,” he told CNBC Indonesia.
Samuel Sekuritas recommends buying shares of big banks such as BBCA, BBNI, BMRI and BBRI with a target price (TP) of Rp 5,200 per share.
At the close of trading last Friday, BBRI shares closed at the level of 3,610 per share with a PER of 17.85 times and the estimated PBV for this year at the level of 2.2 times.
In addition to stocks in the banking sector, Samuel Sekuritas also recommends PT Astra International Tbk (ASII) shares with a target price of Rp 6,750 per share and shares of state-owned telecommunications issuer PT Telkom Indonesia Tbk (TLKM) with a target price of Rp 4,050 per share.
“ASII has an upward trend, and TLKM has exceeded its highest level,” said Al Fatih.
Meanwhile, capital market observer from the Indonesian Securities Analysts Association (AAEI) Reza Priyambada assesses that the performance of banking stocks in the third quarter will bounce back even though it is still overshadowed by the suboptimal intermediation risk due to the extension of the Java-Bali PPKM.
“Banking liquidity is still quite large, they are careful in distributing credit, this year’s distribution has started to improve, although it is still slow,” he told CNBC Indonesia.
One of the banks whose performance was still growing throughout the first semester was PT Bank BTPN Syariah Tbk (BTPS). In the first half of this year, the bank codenamed BTPS recorded a net profit of Rp 770 billion, an increase of 89% on an annual basis and 5% on a quarterly basis.
According to Reza, BTPS shares have now increased from the previous level of Rp 2,540 per share and are now priced at Rp 3,340 per share.
“It is possible for BTPS to reach Rp 4,000. Investors are more likely to look at the prospect developments developed by BTPS,” he said.
(dru)
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