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JCI weakens slightly by 0.05% in morning trade
Just a couple of hours before the Constitutional Court announces its ruling in the presidential election dispute, the Jakarta Composite Index (JCI) weakened 0
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ust a couple of hours before the Constitutional Court announces its ruling in the presidential election dispute, the Jakarta Composite Index (JCI) weakened 0.05 percent to 5,187.7 in Thursday's first trading session.
The slight decrease was contributed by 60 stocks that saw losses by 9 a.m. on Thursday.
Meanwhile, 92 stocks made slight gains and 71 stocks remained stable, kontan.co.id reported.
The volume of trade in the opening session involved 317.12 million shares worth Rp 339 billion (US$28.81 million).
Shares in six out 10 sectors traded on the Indonesia Stock Exchange (IDX) failed to improve, with agriculture recording the biggest fall, decreasing by 0.32 percent.
The miscellaneous industry and consumer products weakened by 0.26 percent and 0.19 percent, respectively.
The LQ45 index's biggest losers were PT Media Nusantara Citra (MNCN), PT Lippo Karawaci (LPKR) and PT Global Mediacom (BMTR).
Meanwhile, PT Waskita Karya (WSKT) , PT Wijaya Karya (WIKA) and PT Vale Indonesia (INCO) were the index's highest gainers.
HD Capital senior researcher Yuganur Wijanarko said market players were optimistic that the General Elections Commission (KPU) would come out victorious at the court today.
"The JCI is predicted to reach its all time high level of around 5,250," Yuganur said in Jakarta on Thursday as quoted by kontan.co.id.
Separately, Chandra Widjanarka from Bahana Securities predicted the JCI would be traded between 5,165 and 5,200 throughout today. (nfo)
