Ahead Of The May Day Holiday, JCI Ends Strengthening 3.26 Percent To Level 4,716.40

JAKARTA - The Jakarta Composite Index (IHSG) closed higher on Thursday 30 April trading. JCI closed up 3.26 percent or 149.08 points to 4,716.40.

Closing the trade, there were 258 stocks rose, 136 stocks fell, and 146 stocks were stagnant. The trading volume was recorded at 8.79 billion shares and was transacted at IDR10.16 trillion.

Binaartha Sekuritas analyst, M. Nafan Aji Gustama, said the strengthening of the JCI was driven by several sentiments, including US President Donald Trump strongly supporting Gilead's research on Remdisivir to become the official drug to cure COVID-19.

"Then, the market responded positively to the setting of the Fed's interest rate which was maintained at the same level," Nafan told VOI.

Previously, the market also responded positively to the dovish attitude of the Fed and previously the hawkish attitude of the BI Governor, which provided a positive catalyst for the rupiah.

"The market has responded positively to various fiscal stimulus programs in order to prevent a deep slowdown in economic growth," Nafan said.

This afternoon, stocks that were among the top gainers, including PT Bank Tabungan Pensiunan Nasional Syaria Tbk (BTPS) which rose 14.66 percent to Rp2,190, PT Bank Mandiri (Persero) Tbk (BMRI) which strengthened 11, 50 percent to IDR 4,460, and PT Medco Energi International Tbk (MEDC) which strengthened 10.84 percent to IDR 450.

Meanwhile, stocks that are among the top losers, including PT Sejahtera Bintang Abadi Textile Tbk (SBAT) which weakened 6.43 percent to Rp131, PT Bima Sakti Pertiwi Tbk (PAMG) which fell 5.26 percent to Rp72, PT Indonesia Tobacco Tbk (ITIC), which fell 5.17 percent to Rp2,750.