Prabowo-Gibran Win, IHSG Remains in the Green Zone (Thursday, March 21, 2024)

The Jakarta Composite Index (JCI) rose 7.22 points or 0.10% to close at 7,338.35 on Thursday (March 21, 2024).

This increase occurred after the General Elections Commission (KPU) declared Prabowo Subianto and Gibran Rakabuming Raka as the elected President and Vice President of Indonesia on Wednesday evening (March 20, 2024).

Capital Market Observer Teguh Hidayat stated that Prabowo-Gibran represent the current government, and therefore, the market is expected to continue development such as downstreaming.

"This can be a source of hope and optimism for investors to invest again," said Teguh in his statement, as reported by *Katadata*, Thursday (March 21, 2024).

Based on the IDX-IC Sectoral Index, eight stock sectors strengthened today. The basic materials sector led with a 1.14% increase, followed by the property and technology sectors, which rose by 1.11% and 0.91%, respectively.

Meanwhile, three other stock sectors were corrected. The health sector fell the most by 1.22%, followed by the non-primary consumer goods and infrastructure sectors, which were down 0.54% and 0.49%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.19 million transactions.

A total of 16.60 billion shares changed hands with a transaction value of approximately Rp 11.17 trillion.

306 stocks closed higher today, 254 stocks were stagnant, and 204 stocks weakened.

Today's top gainer was MAYA, which soared 24.66%, followed by MKAP and RSCH, which increased by 24.32% and 22.51%, respectively.

On the other hand, JARR became today's top loser after plunging 24.89%, followed by ENZO and INET, which fell by 8.70% and 8.47%, respectively.

Meanwhile, Asian regional stock exchanges closed mixed this afternoon. The Nikkei index strengthened by 2.03% to 40,815.69, the Hang Seng index rose by 1.93% to 16,863.09, the Shanghai index weakened by 0.08% to 3,077.11, and the Straits Times index strengthened by 1.35% to 3,220.37.