Bank Stocks Slump, IHSG Weakens 0.27% (Thursday, April 25, 2024)

The Jakarta Composite Index (JCI) weakened 0.27% to 7,155.29 at the close of trading on Thursday (25/4/2024).

According to Phintraco Sekuritas, today's index movement was also influenced by sluggish banking stocks following the Bank Indonesia (BI) benchmark interest rate hike.

"The domestic financial market seems to still need time to respond to BI's latest monetary policy," said the Phintraco Sekuritas analyst team, as reported by *Katadata*, Thursday (25/4/2024).

Prices of major domestic bank stocks fell today. BBTN weakened 1.82%, BBCA 1.76%, and BBRI 1.44%.

Based on the IDX-IC Sectoral Index, the transportation sector fell the most today, down 1.14%, followed by the finance and energy sectors, which were down 1.13% and 1.10%, respectively.

Meanwhile, only three stock sectors strengthened. The non-primary consumer goods sector led with a 1.55% increase, followed by the health and infrastructure sectors, which rose 0.89% and 0.71%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.11 million transactions.

A total of 26.71 billion shares changed hands, with a transaction value of Rp 14.92 trillion.

338 stocks closed lower today, 235 stocks were stagnant, and 208 stocks strengthened.

PYFA was the *top loser* today after plunging 34.57%, followed by PNGO and PTMP, which fell 17.26% and 15%, respectively.

On the other hand, the *top gainer* today was NASI, which soared 33.33%, followed by PTIS and ATLA, which rose 24.55% and 24.32%, respectively.

Asian regional stock exchanges closed mixed this afternoon. The Nikkei Index weakened 2.16% to 37,628.50, the Hang Seng Index strengthened 0.48% to 17,284.53, the Shanghai Index strengthened 0.27% to 3,052.89, and the Strait Times Index weakened 0.16% to 3,287.75.