IHSG Strengthens as Emergency PPKM is Extended

TEMPO.CO, Jakarta - The Indonesian Composite Index (IHSG) opened positively this morning by 0.48 percent (28.79 points) to the level of 6,046.19 as the first day the emergency public activity restriction (emergency PPKM) was extended.

Citing Bisnis.com, 206 shares strengthened, 98 shares weakened, while 173 shares stagnated. State-owned bank PT Bank Rakyat Indonesia (BRRI) recorded the most sales by foreign investors in Wednesday’s trade with a net purchase value of Rp14 billion up to 09:30 Indonesia Western Time (WIB).

It was followed by PT Bank Central Asia (BBCA) with a foreign purchase value valued at Rp7.9 billion, PT Telkom Indonesia Tbk (TLKM) logging Rp4.5 billion net foreign buy.

Head of Research Reliance Sekuritas Indonesia Lanjar Nafi previously predicted that the composite index would rebound in today’s trade and technically be corrected and will have a support moving average of 20-50 days, Bisnis.com reported. 

Nafi forecasts that it can potentially open the index to strengthen and erase losses in today’s trade. “Stochastic and RSI indicators are still in bullish momentum and have a wide enough span to continue strengthening to overbought conditions,” Nafi said. 

The Indonesian Composite Index or IHSG closed Monday’s trade by dropping 0.91 percent or 55.12 points and parked at 6,017.39.

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BISNIS.COM