Good Morning!!
JAKARTA (TheInsiderStories) - The Jakarta Composite Index (IHSG) is expected to move mixed today with a tendency to weaken, pressured by global market negative sentiment due to weakening of oil price as well as the declining of regional markets.
Bahana Securities projected that the index is projected to be hovering within range of 4,505-4,565 points. Among stocks that may draw market interests are including PT AKR Corporindo (AKRA), Lippo Karawaci (LPKR), national flag-carrier PT Garuda Indonesia Tbk (GIAA), toll road operator PT Jasa Marga Tbk (JSMR) and PT Wijaya Karya Beton Tbk (WTON) on news of higher contracts this year.
On Thursday, the Jakarta Composite Index dropped 79 points or down 1.7 percent to 4,530.45 points with total transaction value of Rp3.6 trillion in line with regional markets decline. Almost all sectors recorded a decline led by basic industries and consumer sector which declined over 2 percent.
Losers led decliners 231 to 74, with 76 shares were unchanged and 217 shares were untraded.
The market drivers were Perusahaan Gas Negara (PGAS), Matahari Department Store (LPPF) after the company raised its stakes in e-commerce operator PT GEI, Unilever (UNVR), PT Indocement (INTP) and Bank Bank Mandiri (BMRI), where foreign investors recorded net sellers worth Rp461.7 billion.
Shares that were under selling pressure by foreign investors were Bank Central Asia (BBCA), Bank Mandiri (BMRI), Bank Rakyat Indonesia (BBRI), Unilever (UNVR), and Perusahaan Gas Negara (PGAS). (*)