BRI shares rose supported by good corporate performance

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BRI holds an annual general meeting of shareholders on Tuesday, March 1, 2022 in Jakarta.
BRI holds an annual general meeting of shareholders on Tuesday, March 1, 2022 in Jakarta.

The Composite Stock Price Index (JCI) of the Indonesia Stock Exchange (IDX) closed up 0.48 percent or 33.27 points to a level of 6,921,441 at the close of trading on Tuesday, 1 March.

Quoted from RTI Business, the total trading volume reached 22.8 billion shares with a transaction value of Rp 19.47 trillion. While there are 297 stocks up, 225 stocks down and 157 stocks flat.

JCI also recorded a total foreign purchase value of Rp 1.7 trillion, of which BRI achieved the largest net buy of Rp 416.8 billion. BBRI shares, which reached a record high today, also closed up 1.76 percent to Rp 4,630 per share. The total trading volume of BBRI shares reached 553.1 million with a transaction value of Rp 2.6 trillion.

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The next stock that achieved the highest net buy was Merdeka Copper Gold (MDKA) reaching Rp 298.2 billion. Furthermore, Issuer Telkom Indonesia (TLKM) amounted to Rp 219.8 billion.

According to Profindo Sekuritas analyst Dimas Wahyu, technically, BRI shares on Tuesday's trading were at the level of 4,860, which is a profit-taking area.

"For fundamentals along with the economic recovery and good credit quality and maintained non-performing loan (NPL) levels, supported by the consolidation of PNM and Pegadaian, the portion of MSME loans in the future will be even greater, BBRI's valuation is around 5,400," Dimas said.

he said when contacted by Republika, Tuesday (1 /3/2022).

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