Bisnis.com, JAKARTA – The Composite Stock Price Index (JCI) fell to 7,247.46 at the end of trading on Tuesday (5/3/2024). On the other hand, ALII shares owned by the Bakrie Group were actually a cuan party and led the top gainers. Referring to RTI Business data, JCI was observed to weaken 0.40% or 29.28 points to 7,247.46 at the end of trading. Throughout the session, the composite index moved in the range of 7,238-7,305. A total of 20.54 billion shares were traded with a volume of 1.23 million times. As a result, the value of stock transactions today reached Rp9.62 trillion. At the close of trading today, 198 stocks gained, 340 stocks lost, and 236 stocks were stagnant. Market capitalization was recorded at IDR 11,628 trillion.
Among the top gainers, PT Ancara Logistics Indonesia Tbk (ALII) was observed to lead with a 22.09% jump to Rp525 per share. Followed by PT Mitra Pedagang Indonesia Tbk (MPIX) which gained 21.49% to Rp147 per share. Meanwhile, among the top losers, PT Sinergi Multi Lestarindo Tbk (SMLE) fell 24.83% to Rp218 per share, followed by PT Maja Agung Latexindo Tbk (SURI) which fell 18.65% to Rp314 per share.
The big cap stocks were led by jumbo banking companies. For example, BBRI strengthened 1.24% to Rp6,125, followed by BBCA up 0.51% to Rp9,800 and BBNI up 0.43% to Rp5,900. The three jumbo bank stocks were also the best-selling stocks this afternoon, with BBRI recording a transaction value of Rp704.9 billion, followed by BMRI and BBCA at Rp651.4 billion and Rp607.8 billion respectively. Meanwhile, shares of tycoon Prajogo Pangestu’s PT Barito Renewables Energy Tbk (BREN) fell the most by 3.67% to Rp5,900. And PT Bayan Resources shares owned by conglomerate Low Tuck Kwong also weakened 0.13% to Rp19,425 per share. Today’s JCI level is in line with the prediction of RHB Sekuritas Analyst Muhammad Wafi who said that JCI looks to make a technical correction and breakdown of MA20 line support accompanied by volume. As long as it stays below the MA20 line, it has the opportunity to test the MA50 line support.
“However, if it returns to the MA20 line, it has the opportunity to rebound and test the MA5 line resistance. The JCI movement range is currently in the range of 7,200 to 7,400,” said Wafi in research. Yugen Bersinar Sekuritas CEO William Surya Wijaya added that the current JCI movement pattern still shows that it is at home in a reasonable consolidation range with limited potential pressure still visible. Fluctuations in the rupiah exchange rate are still one of the factors that can affect the JCI movement pattern in the short term. “Sentiment from the release of issuer performance data starting to be released will also color the JCI movement pattern for some time to come,” he explained in a research publication.
This article has been published on Bisnis.com with the title “Bakrie Group’s ALII Shares Feast on Cuan as JCI Tumbles to 7,247”, Click here: https://market.bisnis.com/read/20240305/7/1746737/saham-alii-grup-bakrie-pesta-cuan-saat-ihsg-terjungkal-ke-7247.
Author: Rizqi Rajendra – Bisnis.com