JCI Opens Stronger, 198 Shares Rise

JCI illustration (Photo: Doc Antara)

JAKARTA - The Indonesian Stock Exchange (BEI) Composite Stock Price Index (IHSG) at the opening of trading Monday 12 February 2024 experienced a strengthening of 19.14 points or 0.43 percent to 7,266.38 at 09.15 a.m. Western Indonesian Time (WIB) this morning.

Meanwhile, the JCI opened at 7,233.78, while the highest level for the JCI today was 7,285.27 and the lowest was 7,257.09. The total share trading volume on the IDX reached 5.12 billion, with a transaction value reaching IDR 1.82 trillion. There were 198 shares rising, 253 shares falling, and 204 shares flat.

The LQ45 index rose 0.56 percent to 988.630, while Japan's Nikkei 225, Hong Kong's Hang Seng, China's Shanghai Composite and Singapore's Straits Times indexes closed trading today.

As for those who entered the Top Gainers ranks, namely PT Vale Indonesia Tbk (INCO) rose 330 or 9.02 percent to IDR 3,990, PT Indosat Tbk (ISAT) rose 175 or 1.84 percent to IDR 9,675, PT Indo Tambangraya Megah Tbk (ITMG) rose 350 or 1.31 percent to IDR 27,050.

Meanwhile, among the top losers, shares of PT Unilever Indonesia Tbk (UNVR) fell 270 or 8.26 percent to IDR 3,000, shares of PT Sumber Alfaria Trijaya (AMRT) fell 100 or 3.80 percent to IDR 2,530, and PT Petrindo Jaya Kreasi Tbk (CUAN) shares fell 325 or 4.17 percent to IDR 7,475.

WH Project Founder William Hartanto said the election waiting period is the next sentiment that will influence the market. The election results are a sentiment that can bring market turmoil in the short term.

William said, technically the JCI is still forming a bullish flag pattern which will only be confirmed if it manages to strengthen above 7,254. The MACD indicator has formed a golden cross.

"We project that the JCI has the potential to move in a strengthening trend, in the range of 7,185 to 7,254," said William in his statement.