The BUMN index plunges deeper than JCI, just like the perspective of its action


KONTAN.CO.ID – JAKARTA. The stock index consisting of 20 state-owned enterprises (IDX BUMN 20) recorded a deeper correction than the composite material price index (IHSG) throughout 2018. From the beginning of 2018. To this day (11/15), IDXBUMN20 fell 10.98%, deeper than JCI. , which fell 6.29%.

However, the index has slowly started to show positive results, where on Thursday (11/15) there was still an increase of 2.38%

Analyst Binaartha Sekuritas Muhammad Nafan Aji said that weighing the BUMN 20 index to strengthen was hampered by the performance of construction companies. The trend of building issuers was in the zone throughout the year bearish.

The shares include ADHI year to date (ytd) improved 28.91%, JSMR adjusted 39.06%, PTPP improved 42.99%, WIKA improved 22.58%, WSBP revised 21.08% and WSKT 32.13%.

"Indeed, we admit that construction shares have a downward trend, which is related to the cash flow of a construction company, which is still negative, although its results are considered positive," said Nafan to Kontan on Thursday (11/15).

On the other hand, several issuers are also targeting additional projects and acquiring new contracts from the previous year, which are of a strategic nature. In addition, at the end of the year, payments to the issuer of the construction project will be smooth, so it is expected that they will positively affect the results of this sector in the future.

In addition to construction, the shares of the banking sector also become an IDX BUMN20 price barrier to enter the green zone. However, if it is reflected in the results of the third quarter of 2018, Shares in the banking sector started to show an upward trend.

"There is a lesson that results from the decline in BUMN20 stock prices, investors have cheaper and more appropriate valuations, so that accumulated purchases can still be made," he said.

On the other hand, the large number of BUMN20 issuers who are also included in the LQ45 index has an impact on the BUMN index in the future.

"In the case of BUMN Daily IDX20, in the medium and long term, this index has a chance to strengthen until the end of 2019. Moreover, the market seems to be stable in the political year, thus investors should start shopping from now", he said.

Some shares recommended by Nafan until the end of 2018. This is PT Adhi Karya Tbk (ADHI) with a target price of Rp 1,470, PT Bank Rakyat Indonesia Tbk (BBRI) Rp 3.510, PT Elnusa Tbk (ELSA) Rp 490, PT Perusahaan Gas Negara Tbk ( PGAS) Rp 2,680, PT Semen Indonesia Tbk (SMGR) Rp. 10.900 and PT Telekomunikasi Indonesia Tbk (TLKM) Rp 4,530.

Reporter: Intan Nirmala Sari
Editor: Sanny Cicilia

<! –


-> <! –


Recommended videos

<! –



Source link