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IDX Composite gains as investors adopt ‘wait and see’ stance
The IDX Composite closed higher on Monday, rising by 0.28 percent to 7,247, despite moving in the red zone since the morning.
Change Size
Attendees look at stock trading movements on Jan. 2, 2024, during the opening ceremony for trading at the Indonesia Stock Exchange (IDX) in Jakarta. The IDX Composite closed higher on Jan. 22, 2024, rising by 0.28 percent to 7,247, despite moving in the red zone since the morning. (Antara/Asprilla Dwi Adha)
The Indonesia Stock Exchange (IDX) Composite (IHSG) rose on Monday, gaining 0.28 percent or 20.53 points to close at 7,247.93.
The total stock transaction volume on Monday was 17.5 billion shares, amounting to Rp 11.4 trillion (US$727.70 million). Among the listed stocks, 325 declined, 211 gained and 232 traded sideways.
Five of the 11 sectors in the IDX strengthened, with the financial sector surging 1.50 percent. The infrastructure sector increased by 0.97 percent, while the property and real estate sector rose by 0.35 percent.
Meanwhile, the transportation and logistics sector dropped by 1.65 percent. The energy sector tumbled by 1.46 percent and the industrial sector lost 1.10 percent.
The LQ45 index was up 0.14 percent to conclude the trading day at 975.39. PT Chandra Asri Petrochemical (TPIA) led the gainers in the LQ45 with a 10.11 percent increase. TPIA was followed by PT Tower Bersama Infrastructure (TBIG) and PT Bank Jago (ARTO), which rose by 7.10 percent and 4.29 percent, respectively.
PT Indika Energy (INDY) led the losers in the LQ45, with a 4.92 percent decline. PT Medco Energi Internasional (MEDC) and PT Unilever Indonesia (UNVR) fell by 4.47 percent and 3.70 percent, respectively.
MNC Sekuritas analyst Herditya “Didit” Wicaksana said that investors tend to adopt the “wait and see” approach ahead of the general election. Meanwhile, on the global stage, Didit projected that there would be an increase in commodity prices because of the escalating conflict in the Middle East.
