Indonesia's Composite Stock Price Index (IHSG) Remains in Green Territory as Market Responds to BI's Interest Rate Policy (Thursday, January 18, 2024)

The Jakarta Composite Index (IHSG) strengthened by 52.33 points or 0.73% to 7,252.96 at the close of trading on Thursday (16/1/2024).

The index strengthened as market players responded to Bank Indonesia's (BI) decision to hold its benchmark interest rate at 6% on Wednesday (17/1/2024).

"(Maintaining the interest rate) is an effort to maintain stability and support sustainable economic growth, and remain controlled within the target of 2.5±1% in 2024," said the Pilarman Investindo Sekuritas Research Team in its study, as reported by Antara, Thursday (18/1/2024).

Based on the IDX-IC Sectoral Index, seven sectors increased, led by the basic materials sector by 2.78%, followed by the health and infrastructure sectors, which rose by 1.56% and 0.97%, respectively.

Meanwhile, four sectors declined, with the transportation and logistics sector falling the most at -0.79%, followed by the non-primary consumer and industrial sectors, which fell by 0.32% and 0.10%, respectively.

Based on RTI Business data, the frequency of stock trading on the domestic exchange today reached 1.26 million transactions.

A total of 19.71 billion shares changed hands, with a total transaction value of Rp 10.80 trillion.

Today's top gainers were TPIA, which soared 24.93%, followed by CGAS and SRAJ, which rose 22.58% and 16.88%, respectively.

Meanwhile, the stock with the code KOKA was today's top loser after plunging 19.28%, followed by GTRA and CUAN, which fell 12.74% and 9.86%, respectively.

Regional Asian stock exchanges showed mixed movements this afternoon. The Nikkei index weakened by 0.03% to 35,466.19, the Hang Seng index strengthened by 0.75% to 15,391.79, the Shanghai index strengthened by 0.43% to 2,845.78, and the Straits Times index weakened by 0.08% to 3,139.78.