JCI Closes Up 1.45 Percent at 6,322 on Tuesday, Driven by Major Stocks

The Jakarta Composite Index (JCI) closed trading on Tuesday in positive territory. The JCI ended the session with a gain of 90.21 points, or 1.45 percent, at 6,321.99, continuing a strengthening trend from the start of trading. Based on trading data, the JCI moved in a range of 6,231.78 to 6,336.56 throughout the day. The index’s strengthening was also followed by the majority of sectoral indices and benchmark indices of the Indonesia Stock Exchange (IDX). The LQ45 index closed up 0.88 percent at 633.18, while the IDX30 strengthened 0.52 percent. The IDX80 rose 1.23 percent, and the Kompas100 strengthened 1.54 percent. Among the stocks with the highest transaction frequency, PT Chandra Asri Pacific Tbk (TPIA) was one of the main drivers of the market’s gain after surging 175 points to close at 2,120. Meanwhile, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) also strengthened 50 points to 3,020 with high transaction activity. PT Bank Mandiri (Persero) Tbk (BMRI) was corrected by 30 points to 4,450, but this pressure was offset by gains in other large-capitalisation stocks. PT Bank Negara Indonesia (Persero) Tbk (BBNI) did not feature in the list of most active stocks, while BNBR shares rose 20 points to 105. On the downside, several stocks weakened, including PRDA which fell 54 points to 332, RANS which dropped 12 points to 238, and BUVA which declined 20 points to 935. The majority of IDX indices ended positively. The DBX index recorded the largest gain of 1.85 percent, followed by Kompas100 which strengthened 1.54 percent and ABX which rose 1.46 percent. The MBX index rose 1.36 percent, IDXSMC-COM strengthened 1.03 percent, Bisnis-27 gained 0.74 percent, IDXHIDIV20 edged up 0.18 percent, and INFOBANK15 rose slightly by 0.04 percent. This indicates that the market strengthening occurred fairly evenly across various stock groups. The JCI’s rally occurred despite lingering pressure on the United States stock market, where the Dow Jones Industrial Average closed down 0.59 percent, the S&P 500 fell 0.19 percent, the Nasdaq Composite was slightly corrected by 0.05 percent, and the Russell 2000 dropped 0.67 percent.