JCI Consistent Move Above 4,600 in First Session Monday
12 October 2015 14:38 WIB
TEMPO.CO, Jakarta-Sharp rise in mining stocks helped support the composite index (JCI) strengthening throughout the first session on Monday, October 12.
The JCI rose 0.82 percent, up 37.48 points at the end of the first session to the level of 4,626.82. The index consistently move above the 4,600 level throughout the morning, after opening up 0.16 percent or 7.53 points to 4,596.88.
The index strengthening on Monday indicates changes to a positive trend in the short and medium term after being slumped during the third quarter of 2015.
"JCI has given indications of bottoming, confirmed and strengthened the closing last weekend. JCI re-entered the uptrend for the short to medium term," said Mandiri Sekuritas Research Team.
The JCI rally was among others driven by a sharp rise in mining stocks. Mining index gained 3.54 percent at the end of the first session, moving higher when oil prices consistently traded at around US$50/barrel.
PT Golden Energy Mines Tbk (GEMS) led the sector with a 20.07 percent surge, followed by PT Vale Indonesia Tbk (INCO), which rose 6.71 percent.
Two-cap bank stocks are still driving the JCI. PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) rose 2.13 percent, while PT Bank Central Asia Tbk (BBCA) rose 1.7 percent.
On the other hand, shares of PT Astra International Tbk (ASII) still hit the brakes on JCI. ASII ended the first session weaker 0.37 percent.
A total of 189 stocks gained, 91 stocks fell, and 239 of 519 stocks stagnant traded at the Indonesia Stock Exchange.
Bisnis27 index rose 0.97 percent in afternoon pause to the level of 393.33. Bisnis27 consistently move in the green zone between the 390.18 to 395.06 level.
BISNIS.COM