JCI Dropped 5.01 Percent, Falling To Level 4,800's

JAKARTA - The Composite Stock Price Index (IHSG) is increasingly helpless and has even fallen 22.28 percent year to date. Today alone, Thursday 12 March, the JCI fell 5.01 percent or 258.36 points to a level of 4,895.75.

At the close of trading this afternoon, only 39 shares had strengthened. Meanwhile, 398 stocks fell and 80 stocks were stagnant. The trading volume was recorded at 5.23 billion shares and was transacted as much as IDR 5.75 trillion.

Binaartha Sekuritas analyst, M. Nafan Aji Gustama said, the weakening of the JCI in particular and the global index in general was more influenced by the massive spread of COVID-19.

"COVID-19 has been declared by WHO as an international pandemic because the spread of the virus has reached 118 countries," Nafan told VOI.

This afternoon, stocks that were among the top gainers, including PT Trimitra Propertindo Tbk (LAND) which rose 20 percent to Rp420, PT Pelangi Indah Canindo Tbk (PICO) which rose 15.74 percent to Rp500, and PT Sierad Produce. Tbk (SIPD) which strengthened 8.84 percent to IDR985.

As for those in the top losers, including PT Wijaya Karya (Persero Tbk (WIKA) which weakened 18.21 percent to Rp1,145, PT Wakita Karya (Persero) Tbk (WSKT) which fell 16.23 percent to Rp645, and PT Adaro Energy Tbk (ADR), which fell 13.99 percent to Rp830.

For information, today's stock trading officially closed early, at 15:33. This is because the JCI was recorded to have dropped to more than 5 percent.

This is in accordance with the policy of the Financial Services Authority (OJK) which instructs the Indonesia Stock Exchange (IDX) to stop trading for 30 minutes if the Composite Stock Price Index drops by 5 percent or more.