Indonesia's Composite Stock Price Index (IHSG) Closes Higher, Supported by Strengthening State-Owned Construction Companies (Tuesday, August 29, 2023)

The Jakarta Composite Index (JCI) strengthened by 36.10 points or 0.52% to 6,957.83 at the close of trading on Tuesday (29/8/2023).

Today's index increase was also driven by the strengthening of several state-owned construction company stocks.

Wijaya Karya (WIKA) shares rose 10.16% today, followed by state-owned construction company stocks with codes ADHI and PTPP, which rose 6.19% and 3.42% respectively.

Based on the IDX-IC Sectoral Index, seven stock sectors strengthened today. The infrastructure sector led with a 1.18% increase, followed by the technology and health sectors, which rose 1.56% and 1.08% respectively.

Meanwhile, four stock sectors weakened today. The energy sector fell the most, at -0.11%, followed by the industrial and transportation-logistics sectors, which fell -0.19% and -0.21% respectively.

Based on RTI Business data, the frequency of stock trading on the domestic exchange today was 1.21 million transactions.

A total of 28.38 billion shares changed hands, with a transaction value of Rp 10.67 trillion.

The issuer with the code NOBU was among the top gainers after strengthening by 13.64%, followed by issuers BSML and HOKI, which strengthened by 12.37% and 11.24% respectively.

On the other hand, today's top losers were CPRO, which weakened by 14.08%, followed by RMKO and PTMP, which contracted by 14.06% and 12.50% respectively.

Although the stock index strengthened, the majority of stocks closed lower today. Specifically, 268 stocks weakened, 256 stocks strengthened, and 230 stocks were stagnant.

(Read also: JCI Closed Stronger, Supported by the Rise of 10 Stock Sectors (Monday, August 28, 2023))