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IDX Composite strengthens by 0.26% on Tuesday
IDX Composite closed 0.26 percent higher to 7,242.78 on Tuesday. The index was down over 1 percent in the past week, while mutual funds rose.
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A woman takes a picture of stock movements at the Indonesia Stock Exchange (IDX) in Jakarta on July 4, 2023. The IDX Composite closed 0.26 percent higher at 7,242.78 on Jan. 16, 2024. (Antara/Hafidz Mubarak A)
T
he Indonesia Stock Exchange (IDX) Composite index was up 18.78 points, 0.26 percent, to conclude Tuesday’s trading at 7,242.78. The index earlier opened 0.11 percent higher at 7,231.63.
Total stock transaction volume reached 18.95 billion shares, amounting to Rp 9.94 trillion (US$635.9 million). Among the listed stocks, 272 strengthened, 241 weakened and 258 were flat.
Five of the 11 sectors supported the rise in the composite index, with non-primary consumer goods experiencing the highest increase of 1.05 percent. Raw material strengthened by 0.78 percent, while property and real estate added 0.19 percent.
On the contrary, six other sectors experienced declines. Health weakened by 1.93 percent, followed by a 0.61 percent decline in technology. The industrial sector fell by 0.42 percent, while the financial sector dropped by 0.28 percent.
The LQ45 index was also up 0.14 percent to close at 975.39. PT Chandra Asri Petrochemical (TPIA) led the gain with a 10.22 percent increase. PT Barito Pacific (BRPT) and PT Mitra Adiperkasa (MAPI) rose by 4.93 percent and 1.84 percent, respectively.
PT Tower Bersama Infrastruktur (TBIG) led losses in LQ45, with a 4.43 percent decline. Then, PT Sarana Menara Nusantara (TOWR) and PT Bank Tabungan Negara (BBTN) decreased by 3.05 percent and 2.21 percent, respectively.
The IDX Composite weakened by 1.42 percent over the past week due to the decline in large-cap stocks. On the other hand, mutual funds showed a noteworthy performance.
According to consulting firm Infovesta, nearly all the mutual fund indexes recorded positive returns. Investa also said there was an improvement in market sentiment.
“Global sentiment improved as China’s inflation data showed an improvement in the deflationary trend. Meanwhile, annual inflation in the United States increased and surpassed the market consensus,” said Infovesta, as quoted by katadata.com news portal.
