JCI At The Weekend Opened To Weaken 1.11 Percent To The Level Of 5,575.57

Illustration. (Photo: Unsplash)

JAKARTA - The Jakarta Composite Index (JCI) opened lower on Friday, March 6 trading. JCI opened lower by 1.11 percent or 62.56 points to a level of 5,575.57.

At the opening of trading, there were 24 stocks rose, 127 stocks fell, and 87 stocks were stagnant. Trade transactions reached IDR145.31 billion from 112.04 million shares traded.

Reliance Sekuritas analyst, Lanjar Nafi said, JCI is predicted to move into the red zone in today's trading. One of the sentiments that caused the index to decline was the psychological factor of traders to take profits amid fears of the corona virus.

He assessed that the market anticipates the fluctuating JCI movement. "Mainly stocks that have moved rebounding more than 5% for two days," he said in his research.

Another sentiment affecting the JCI today is the difference in attitudes between Saudi Arabia and Russia regarding plans to reduce oil production. Saudi Arabia wants to reduce one million barrels per day, but Russia is still weighing the proposal.

This is aimed at pushing up oil prices, amid declining demand due to the corona virus. However, the Organization of the Petroleum Exporting Countries (OPEC) and Russia, which is called OPEC +, have cut production by 1.7 million barrels per day. This step will be carried out until the end of March.

This morning, the shares that entered the top gainers, namely shares of PT Onix Capital Tbk (OCAP) rose IDR 38 or 34.55 percent to IDR 148, shares of PT Perdana Gapuraprima Tbk (GPRA) rose IDR 3 or 5.77 percent to IDR 55, and shares PT Bank BRIsyariah Tbk (BRIS) increased by IDR 10 or 3.94 percent to IDR 264.

As for the stocks that entered the top losers, among others, the shares of PT Kimia Farma (Persero) Tbk (KAEF) fell IDR 45 or 4.92 percent to IDR 870, shares of PT Media Nusantara Tbk (MNCN) fell IDR 60 or 4.48 percent to IDR 1. 280 and shares of PT PP Presisi Tbk (PPRE) fell IDR7 or 4.17 percent to IDR161.