Indonesia's Composite Stock Price Index (IHSG) Closed Higher Amidst Weakness in the Energy and Financial Sectors (Wednesday, June 7, 2023)
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The Jakarta Composite Index (JCI or IHSG) closed up 0.83 points or 0.01% to 6,661,975.5 at the end of trading on Wednesday (June 7, 2023).
This increase in the stock index occurred despite weakness in the energy and financial sectors.
Based on the IDX-IC Sectoral Index, six sectors increased. The non-cyclical consumer goods sector saw the highest increase at 2.3%, followed by the transportation and logistics sector and the infrastructure sector, which rose by 1.36% and 1.17%, respectively.
Meanwhile, five other sectors experienced corrections, with the energy sector falling the most at -0.79%, followed by the technology and financial sectors, which fell by -0.25% and -0.24%, respectively.
"The JCI correction was influenced by the weakening of banking and coal stocks," said Jono Syafei, an analyst at Henan Putihrai Sekuritas, as quoted by Antara news agency on Wednesday (June 7, 2023).
According to Jono, banking stocks weakened due to profit-taking in several banking stocks that had previously experienced a rally.
Meanwhile, Jono continued, coal sector stocks weakened following the recent decline in coal prices.
Based on RTI Business data, the JCI today moved in the range of 6,578,756 to 6,638,581.
Trading frequency in the domestic stock market today reached 1.43 million transactions. A total of 18.07 billion shares changed hands, with a total transaction value of Rp 10.29 trillion.
The issuer with the code INDX was the top gainer, strengthening by 34.81%. This was followed by UNIQ and RAAM, which increased by 26.58% and 24.59%, respectively.
On the other hand, the top loser today was SAGE, which contracted by 14.68%, followed by NZIA and COAL, which weakened by 14.52% and 8.74%, respectively.
The majority of stocks closed higher today. Specifically, 288 stocks rose, 244 stocks fell, and 211 stocks were unchanged.
"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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