BUSINESS FINANCE : JCI Reached a High of 6,895 Before the Weekend and Closed in the Green Zone.

 

The Composite Stock Price Index (IHSG), which measures the performance of stocks, ended this week on Friday (17/2) with a tiny gain of 0.05 points to 6,895. The value of today's transactions, which had a volume of 25.3 billion and a frequency of 1,027,982 times, reached IDR 9.83 trillion, according to data from the Indonesia Stock Exchange.

There were 225 stocks that did not move, 290 stocks that ended in the red zone, and 213 stocks that ended in the green zone. In the meantime, the JCI's market capitalization value hit IDR 9,534 trillion.

Research by Phintraco Sekuritas indicates that the Bank Indonesia Board of Governors' (RDG) decision to keep the benchmark interest rate at 5.75% last Thursday (16/2) will continue to have an impact on the JCI's movement. The release of the Federal Open Market Committee (FOMC) minutes from February 23, 2023 is still awaited by the market.

The market wants to know what the Fed thinks about the current state of interest rates and the most recent changes in economic data, particularly inflation and US employment, which are both reasonably stable in January 2023.

With a transaction value of IDR 887.7 billion, PT GoTo Gojek Tokopedia Tbk (GOTO) is among the stocks that are traded the most at the moment. Moreover, PT Bank Syariah Indonesia Tbk (BRIS) and PT Bank Rakyat Indonesia Tbk (BBRI) each had transactions of IDR 341.3 billion and IDR 440 billion, respectively.

Asian exchanges are primarily in the danger zone. The Hang Seng sank 1.28%, the Shanghai Composite declined 0.77%, and the Nikkei 225 index dropped 0.66%. With a 0.45% rise, the Straits Times was the sole publication to be in the positive territory.

The majority of stock sectors are in the red area even if they are closed in the green area. the property industry, which experienced a 0.97% decline. PT Ciputra Development Tbk (CTRA) shares and other stocks decreased 0.52% or 5 points to Rp 955 per share.

Moreover, PT Pakuwon Jati Tbk (PWON) and PT Bumi Serpong Damai Tbk (BSDE) also had declines of 0.87% and 4 points, respectively, to Rp 456 and Rp 930 per share, respectively.

Other industries that slipped into the red zone were the energy, basic energy, transportation, primary, industrial, and infrastructure sectors. The energy sector declined by 0.76%, the basic energy sector by 0.78%, the transportation industry by 0.29%, the industry by 0.63%.

In contrast, the non-primary sector increased by 0.51%, the financial sector by 0.32%, the health sector by 0.64%, and the technology sector by 0.49%.