JCI On Thursday Was Closed, Falling 5.20 Percent To 4,105.42 Levels

Illustration. (Photo: Unsplash)

JAKARTA - The Composite Stock Price Index continues to weaken, and has even approached the level of 4,000. The JCI on Thursday, March 19 closed down 5.20 percent or 225.25 points to 4,105.42.

At the close of trading, as many as 46 stocks rose, 378 stocks fell, and 92 stocks remained unchanged. The trading volume was recorded at 5.16 billion shares with a transaction value of IDR 5.01 trillion

Binaartha Sekuritas analyst, M. Nafan Aji Gustama said, the aggressive spread of the COVID-19 outbreak that has occurred in the country is a major factor in the occurrence of panic selling conditions.

"Meanwhile, market players are waiting for the government's move in order to issue various stimuli in order to boost the national economy," Nafan told VOI.

As for the reduction in the BI interest rate by 25 basis points, Nafan said, all elements were still appreciated in order to support the stability of domestic economic growth amidst the weakening of the rupiah.

This afternoon, stocks that were among the top gainers, including PT Era Mandiri Cemerlang Tbk (IKAN) which rose 34.97 percent to IDR193, PT Indonesia Fibreboard Industry Tbk (IFII) which gained IDR34.21 percent to IDR153, and PT Optima Prima Metal Sinergi Tbk (OPMS) which strengthened 33.82 percent to IDR91.

While those in the top losers ranks, including PT Bank Central Asia Tbk (BBCA) which fell 7.00 percent to Rp23,250, PT Putra Rajawali Kencana Tbk (PURA) which fell 7.00 percent to Rp93, and PT Bank Mandiri (Persero) Tbk which weakened 6.99 percent to IDR 4,790.