JAKARTA (TheInsiderStories) — The Jakarta Composite Index closed gaining by 1.17 percent to 6,104.1 with Rp331.74 billion (US$23.03 million) foreign inflows, on May 29. For today, the composite index is predicted to move bullish in a range of 5,982-6,230, according to Analyst of Erdikha Elit Sekuritas, Edo Ardiansyah.

On Wednesday, infrastructure, utilities, and transportation sector has the highest hiked at 2.21 percent, followed by miscellaneous industry sector and consumer goods industry sector that grew 1.62 percent and 1.57 percent respectively.

Top Gainers

The top gainer on the last day of trade was PT Mitra Komunikasi Nusantara Tbk (IDX: MKNT) stock by 34.1 percent to Rp110 a share. It rebounded after slumped by 47.6 percent for days and enlisted in Indonesia Stock Exchange monitoring.

Furthermore, PT Steadfast Marine (IDX: KPAL) share increased by 31.2 percent to Rp163 each and PT Bali Towerindo Sentra Tbk (IDX: BALI) stock hiked by 25 percent at Rp 2,100 a share.

Top Losers

PT Centrex Tbk (IDX: CNTX) dropped the most by 15.9 percent to Rp390 a share, PT Jaya Agra Wattie (IDX: JAWA) declined by 14.5 percent to Rp106 each, and PT Alfa Energi Investama (IDX: FIRE) fell by 10.1 percent to Rp7,600 a piece.

PT Indofood Sukses Makmur Tbk (IDX: INDF)

Indofood allocated Rp7 trillion capital expenditure during 2019, lower by 23 percent compared to last year. The funds will divided to its subsidiaries, Rp3.9 trillion for PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP), Rp1.5 trillion for flour business, Rp1.4 trillion to its agriculture business, and Rp200 billion for logistic distribution business. Indofood targeted single-digit growth this year.

PT Visi Media Asia Tbk (VIVA)

The Bakrie Group media will divest its shares by 25 percent maximum in the third quarter of 2019. Visi Media Asia’ corporate action will be executed in two schemes, with private placement as one of its choices. Recently, there are 2-3 investors in line to buy company’ shares. VIVA planned to use the funding gathered for paying debts and adding working capital.

PT Golden Flower

Indonesia’s producer of Michael Kors, Calvin Klein, Tommy Hilfiger, DKNY, to American Eagle clothes tagged its Initial Public Offering (IPO) shares at Rp260-Rp300. The garment company will release 150 million shares or 20 percent of its equity to the market. So Golden Flower can get around Rp39 billion to Rp45 billion funding for working capital.

On today’ market, Erdikha Elit Sekuritas recommended PT Bank Rakyat Indonesia (BBRI), PT Charoen Pokphand Indonesia Tbk (IDX: CPIN), PT Erajaya Swasembada Tbk (IDX: ERAA), PT Perusahaan Gas Negara Tbk (IDX: PGAS), and PT Indah Kiat Pulp & Paper Tbk (IDX: INKP) stock to be watched.

US$1: Rp14,400

May you have a profitable day!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia