JCI On Tuesday Closed Turned Down 0.11 Percent To 6,238.15

Illustration. (Photo: Unsplash)

JAKARTA - The Jakarta Composite Index (JCI) closed lower at the close of trading Tuesday, January 21. JCI closed 'sluggish' 0.11 percent and was in the red zone to the level of 6,238.15.

A total of 145 stocks rose, 257 stocks fell, and 151 stocks were stagnant. The trading volume was recorded at 11.09 billion shares and transacted for IDR 6.09 trillion.

Binaartha Sekuritas analyst, M. Nafan Aji Gustama said, the decline in the JCI was due to the lack of global and domestic macroeconomic data that gave a positive high market impact on the market.

"On the other hand, the slowdown in global economic growth also overshadows index growth," he told VOI, Tuesday, January 21.

Reliance Sekuritas analyst Lanjar Nafi said the decline in the JCI accompanied the deteriorating developments in Hong Kong in the weekend of violent clashes that prompted high-ranking officials there to call for new security laws.

"In addition, in China, growing concerns about the deadly corona virus are slightly hampering business activities there," he said.

He continued, from domestic, the decline in investor confidence regarding the polemic in the Indonesian capital market regarding the DPR which opened up the opportunity for the OJK to be returned to Bank Indonesia and prioritized discussion of the problems of Jiwasraya, Bumiputera, Asabri, Taspen and Bank Muamalat Indonesia to be one of the factors for the consolidation of the JCI.

"Foreign investors conducted net selling of Rp. 442.99 billion in the regular market and net buying of Rp. 663.80 billion in the negotiation market," he said.

At the close of trading this afternoon, stocks that were moving in the ranks of top gainers, among others, shares of PT Gunawan Dianjaya Steel Tbk (GDST) rose Rp23 or 33.82 percent to Rp91, shares of PT Darmi Bersaudara Tbk (KAYU) increased by Rp19 or 26, 39 percent to Rp. 91, and shares of PT Bima Sakti Pertiwi Tbk (PAMG) increased by Rp. 20 or 17.70 percent to Rp. 133.

Meanwhile, stocks moving in the ranks of the top losers, namely shares of PT Envy Technologies Indonesia Tbk (ENVY) fell IDR 62 or 12.45 percent to IDR436, shares of PT Limas Indonesia Makmur Tbk (LMAS) fell IDR 23 or 12.04 percent to Rp168, and shares of JAPFA Tbk (JPFA) decreased by Rp95 or 5.71 percent to Rp1,570.