ILLUSTRATION. Employees observe stock price movements in Jakarta. BETWEEN PHOTOS / Muhammad Adimaja / aww.
Reporter: Ika Puspitasari | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. Exactly one year Covid-19 was in Indonesia, the movement of the Jakarta Composite Index (JCI) experienced ups and downs. On March 24, 2020, the JCI touched its lowest level at 3,937.63. Now, the JCI has moved up again and at the close of trading on Tuesday (2/3) the JCI strengthened 0.33% to the level of 6,359.21.
In the period March 2 2020-2 March 2021, there were several stocks that experienced fantastic price increases. The two shares are gold mining issuers, namely PT Aneka Tambang (ANTM) which rose 374.78% and PT Merdeka Copper Gold Tbk (MDKA) which jumped 104.60%.
Head of Investment Research, Infovesta Utama, Wawan Hendrayana, assessed that this gold mining issuer is benefiting from the rising gold price which is increasingly shining amid the Covid-19 pandemic. In the past year, gold has been increasingly sought after because it is a safe haven asset. Nickel mining issuers’ shares were also observed to continue amid the pandemic, for example PT Vale Indonesia Tbk (INCO) rose 139.79%.
“The increase in nickel commodity prices boosted the share prices of nickel issuers such as INCO and ANTM. This is also due to the expectation that an electric vehicle battery factory will be built in Indonesia, “said Wawan when contacted by Kontan.co.id, Tuesday (2/3).
Furthermore, stocks that also posted price increases during the pandemic were PT Timah Tbk (TINS) which rose 256.52%, PT Tjiwi Kimia Tbk (TKIM) rose 142.50%, and PT Indah Kiat Pulp & Paper Tbk (INKP). ) shot up 256.52%.
As for the banking shares of PT Bank Syariah Indonesia TBk (BRIS) even up to 1,195%, PT Bank Rakyat Indonesia Agroniaga Tbk grew 815.54%, shares of PT Kimia Farma Tbk (KAEF) rose 520.69%.
Wawan said that the increasing demand for paper amid the pandemic was one of the factors for the increase in the shares of paper issuers such as TKIM and INKP.
He views that the performance of the two issuers is still quite good in the midst of the pandemic because the need for food delivery to homes is still high.
“Others are more due to corporate actions, such as BRIS, where there is a merger of Islamic banks and AGRO to become a digital bank,” added Wawan.
Furthermore, he views that banking performance this year will gradually recover, but for AGRO itself, there are quite a few competitors who are involved in digital banks.
Overall, he said, most of the stocks with the highest rising rank were not from sectors that were considered to be anti-crisis. However, it is more to the corporate actions carried out by the issuer.
Wawan is championing stocks such as ANTM, INCO, INKP, and BRIS because they have bright prospects. Moreover, issuers related to nickel, he predicts nickel prices will tend to be stable and could increase in the next three to four years.
He set a target price for ANTM at IDR 3,000, INCO with a target price of IDR 6,000, and INKP at IDR 14,000 per share.
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Reporter: Ika Puspitasari
Editor: Herlina Kartika Dewi