Watch! These are the stocks that are ready to send the JCI to the 7,200 zone

Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) again failed to penetrate the psychological level of 7,200 in yesterday’s trading, Thursday (9/6/2022).

JCI closed down 0.15% at 7,182.83 at the end of trading. However, what is interesting to observe is the movement pattern of the index throughout the trade.

JCI opened lower and also closed lower. However, throughout the course of trading, the JCI actually moved in the appreciation zone and briefly broke to the highest level at 7,257,997.

Of the 10 stocks with the largest market capitalization value and weight, there are 4 stocks that experienced corrections, namely PT Bank Central Asia Tbk (BBCA), PT Telkom Indonesia Tbk (TLKM), PT Unilever Indonesia Tbk (UNVR) and PT Bank Negara Indonesia Tbk (BBNI). ).

BBCA, TLKM and UNVR shares fell more than 1%. Meanwhile, BBNI shares fell the most with a 3.61% correction.

The fall of the four stocks with a market capitalization value of more than Rp 100 trillion also weighed on the JCI to stay at the level of 7,200.

Actually, to get to the psychological level of 7,200, the JCI only needs an appreciation of 0.24%.

This means that if BBCA’s stock price does not weaken by more than 1%, it can actually be enough to hold the JCI from moving out of that psychological level.

BBCA is the stock with the largest market capitalization value on the local stock exchange. Using a simple calculation, with the weakening of BBCA’s share price by 1.32%, the market capitalization value lost around Rp 12 trillion.

The Rp 12 trillion figure is equivalent to 0.13% of the JCI market cap. To note, BBCA’s own shares have a weight of about 10% of the index.

When using a rough calculation, assuming that BBCA’s stock price only weakened 1%, while the price of 9 stocks with market cap the other biggest ones remained the same as yesterday’s performance, so the JCI could still be perched at the level of 7,200.

[Gambas:Video CNBC]