"Window Dressing" Momentum Pushes IHSG Up 1.82% (Wednesday, December 4, 2024)
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The Jakarta Composite Index (IHSG) rose 1.82% to 7,326.76 at the close of trading on Wednesday (December 4, 2024).
Pilarmas Sekuritas assessed that this strengthening of the IHSG is in line with the momentum of window dressing at the end of the year. This momentum led investors to collect blue-chip stocks, thus driving increased stock trading activity before the end of 2024.
Based on the IDX-IC Sectoral Index, 10 out of 11 domestic stock sectors strengthened today. The basic materials sector led with a 3.39% increase, followed by the infrastructure sector and the consumer staples sector, which rose 1.84% and 1.43%, respectively.
Only one sector weakened, the technology sector, which corrected by 0.70%.
According to RTI Business data, the frequency of domestic stock trading today reached 1.3 million transactions.
A total of 22.47 billion shares changed hands, with a total transaction value of Rp 11.18 trillion.
379 stocks closed higher today, 210 stocks weakened, and 205 stocks were stagnant.
Citing Investing.com, the top gainers today were PICO, which soared 35%, followed by TNCA and BTEK, which rose 34.03% and 33.33%, respectively.
On the other hand, the stock with the code VISI was among the top losers after plunging 30.17%, followed by JIHD and ECII, which corrected by 24.88% and 18.33%, respectively.
Asian stock exchanges closed mixed this afternoon. The Nikkei index rose 0.07% to 39,276.39; the Hang Seng index fell 0.02% to 19,742.46; the Shanghai index fell 0.42% to 3,364.65; and the Straits Times index rose 0.36% to 3,799.94.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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