JCI Finally Turns Green, The Weekend Is Closed, Gaining 2.18 Percent To 4,194.94

JAKARTA - The Jakarta Composite Index was finally able to strengthen after being under pressure for a few days. JCI on Friday, March 20, closed up 2.18 percent or 89.52 points to 4,194.94.

At the close of trading, 192 stocks rose and were able to boost the JCI to the green zone, meanwhile, there were 224 stocks that were stagnant, and 117 were stagnant.

Binaartha Sekuritas analyst, M. Nafan Aji Gustama, said that market players really appreciate the government's role in tackling the COVID-19 outbreak in the country.

"Even ordering drugs that are believed to be able to cure COVID-19 - Avigan and Chloroquine - by the government will be carried out on a large scale," Nafan told VOI.

On the other hand, market players also appreciate BI's move to lower the benchmark interest rate by 25 bps in order to support stability in domestic economic growth amidst the weakening rupiah.

This afternoon, stocks moving in the ranks of top gainers include PT Bukit Asam (Persero) Tbk (PTBA) which rose 21.21 percent to Rp1,800, PT Surya Citra Media Tbk (SCMA) which gained 18.11 percent to become IDR 750, and PT United Tractors Tbk (UNTR) which strengthened 17.86 percent to IDR 14,850.

While those in the top losers ranks, among them PT Bank Negara Indonesia (Persero) Tbk (BBNI) which weakened 6.91 percent to Rp3,460, PT Bank Mandiri (Persero) Tbk (BMRI) which weakened 6.89 percent to Rp.4,460 , and PT Wijaya Karya (Persero) Tbk (WIKA) which fell 6.74 percent to Rp830.