Home » Business » What a mess! JCI collapsed below 6,100, this is the culprit

What a mess! JCI collapsed below 6,100, this is the culprit

Jakarta, CNBC Indonesia – The Jakarta Composite Index (JCI) opened in red this morning. Starting the day with a slight correction of 0.05% to the level of 6,163.72. In trading at 10.19 WIB, the reference index for the Indonesian stock market fell below the level of 6,100 or minus 1.22% to the position of 6,093.

IDX data records that the transaction value reached Rp 4.22 billion with a trading volume of 6.93 billion shares.

Foreign selling pressure was on blue chip stocks with a market capitalization of more than Rp 100 trillion.


The shares of PT Bank Rakyat Indonesia Tbk (BBRI) were sold by foreigners for Rp 73 billion with a correction in the share price of 3.18% at the level of Rp 4,570.

Next, the shares of PT Astra International Tbk (ASII) were released by foreigners at Rp 19 billion with a share price correction of -0.90% at Rp 5,475 / share.

Then the shares of PT Unilever Indonesia Tbk (UNVR) were sold by foreigners for IDR 13 billion and their shares fell 2.23% to IDR 6,575.

Then foreigners also released shares of PT Telkom Indonesia Tbk (TLKM) amounting to Rp 10 billion with a stock correction of 0.88% at Rp 3,390 / share.

Market participants seem to be watching the sentiment of the stock exchanges of the United States (US), Wall Street today, where the stock market of Uncle Sam’s country closed varied but the majority weakened in yesterday’s trading (early morning Indonesian time).

The cause of Wall Street’s sluggishness is the profit taking of US banking stocks as a result of being hit by a margin call. Some banking shares have admitted that they were hit by forced sell on their position in short selling.

Meanwhile, the focus of US investors now is to monitor the progress of US President Joe Biden’s infrastructure stimulus plan, which was added to US $ 3 trillion, and the details will be announced during his working visit to Pittsburgh on Wednesday (31/3/2021).

Market participants should be prepared for market volatility is still high this week, which shortened the holidays and the end of the first quarter of 2021.

The market also needs to pay close attention to the rapid progress in the movement of bond yields so that market players can make major adjustments in their investment portfolios.

The market is also watching the March employment data which according to a Dow Jones poll led to an estimate of 630,000 people hiring new jobs, bringing the unemployment rate to 6% from 6.2% initially.

Today, market players also need to pay close attention to some economic data that will be released today.

In the Asian region, economic data to be released today are data on the Japanese unemployment rate and Japanese retail sales. Meanwhile, in Europe and the US, the economic data to be released today is the consumer confidence index for March 2021.

Meanwhile, domestically, the market needs to pay close attention to several stock sectors that experienced significant strengthening or weakening yesterday. Among them are banking, consumer and mining stocks.

Artha Sekuritas predicts the JCI will weaken. Technically, the movement is still at trend bearish medium term.

The movement will still be overshadowed by fluctuations in world oil prices as well as correction in other commodity prices. From within the country there is still minimal sentiment, especially from economic data.

Reliance Sekuritas also stated that there was an increase in yields (yield) United States Treasury is higher. Apart from that the US stock market is also weighed down by its existence forced block sales of Wall Street.

[Gambas:Video CNBC]

(bag bag)


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