JCI in October Tends to Strengthen, Bank KBMI 4 to Support?

Jakarta – Mirae Asset Sekuritas sees the movement of the composite stock price index (JCI) technically in October 2023 is predicted to move mixed tending to strengthen at the support level of 6,862 and the resistance level at 7,085.

“Technically, JCI is still relatively mixed to higher and of course there is also the potential to continue to experience bullish consolidation, it also happens to be technically in the main up trend line area,” Mirae Asset Sekuritas Senior Investment Information told Infobanknews in Jakarta, October 2, 2023.

Then, Nafan added, the sector that is the driving force of the JCI in October will still be supported by the financial statements of issuers from the financial sector or banking industry, especially the Bank Group based on Core Capital (KBMI) 4.

“KBMI 4 banks are the driving force of our JCI because of their large market cap including bigcaps so far also the performance of KBMI 4 banks also continues to show progressive performance in terms of top line and bottom line, especially in terms of credit growth,” he added.

So, what is the movement of bank stocks in the KBMI 4 category?

PT Bank Central Asia Tbk (BBCA) shares at 14:20 WIB moved up 2.27 percent or rose 200 points to Rp9,025 per share with a total transaction value of Rp563.04 billion.

Then, the strengthening was also followed by shares of PT Bank Mandiri (Persero) Tbk (BMRI) which strengthened 1.24 percent at the same time or rose 75 points to Rp6,100 per share with a total transaction value of Rp106.69 billion.

Then, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) shares also increased by 0.48 percent or rose 25 points to Rp 5,250 per share with a total transaction value of Rp 232.64 billion.

Meanwhile, shares of PT Bank Negara Indonesia (Persero) Tbk (BBNI) also experienced a gain of 0.24 percent to Rp10,350 per share or up 25 points from the price of Rp10,325 per share with a total transaction value of Rp202.37 billion. (*)