IDX: Bukalapak Ends Negative Trend in Friday's First Session

TEMPO.CO, Jakarta - Bukalapak managed to end its negative trend during Friday’s opening trade after the ecommerce’s shares (BUKA) dwindled in the past few days and even managed to reach the bottom auto rejection at the Indonesia Stock Exchange (IDX).

Securities firm Samuel Sekuritas Indonesia on August 13 provided their analysis, stating, “BUKA finally managed to end its negative trend during today’s first session, after continuously underperforming since Monday. The e-commerce shares successfully emerged in the middle of the day’s session and closed at Rp995 per share or a 3.1 percent increase.”

Bukalapak’s shares also logged most of its trade from foreign buys in the first session with a total transaction value of Rp78.2 billion. Other shares earlier today with the most foreign buys in the regular market were BBCA (Rp168.9 billion) and BBRI (Rp53.9 billion).

Based on trading volume, BUKA has become the most actively-traded company during Friday’s first session with 24.4 million shares, followed by FREN with 10.8 million shares, and CARE with 4.6 million shares. 

In general, the Indonesian Composite Index (IHSG) slightly weakened in the first trade of the day and ended the session at 6,134 or 0.9 percent lower than yesterday’s trade. 

Disclaimer: This article is composed in partnership with Samuel Sekuritas Indonesia. Information in it is not meant to entice readers to buy or sell shares as the decision to invest is entirely in the hands of the readers. 

Read: Bukalapak Responds to Protests Over Plummeting Share Price

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