In recent days, Indonesia stock market has been doing quite well. It’s been going up for two days in a row now, gaining almost 20 points or 0.4 percent. Right now, the Jakarta Composite Index (JCI) is sitting just above 7,350 points. But there’s a chance it might slow down a bit on Monday.
Recap of JCI’s Performance and Sectoral Analysis
On the preceding Friday, the JCI closed marginally higher, buoyed by positive movements in financial and cement sectors. However, gains in these sectors were offset by weakness observed in resource stocks. The index recorded a modest increase of 11.80 points or 0.16 percent, culminating in a closing figure of 7,350.15 points, after fluctuating between intraday highs and lows.
Active Stocks and Sectoral Insights
Examining active stocks provides valuable insights into market dynamics and investor sentiment. Noteworthy performers include:
- Bank CIMB Niaga: It went up by a little, about 0.49 percent.
- Bank Danamon Indonesia: This one had a really good day, going up by 2.03 percent.
- Bank Negara Indonesia: It went up by 0.86 percent, which is a good sign for banks.
- Bank Central Asia: This one went down a bit, about 0.25 percent.
- Bank Rakyat Indonesia: It went up slightly by 0.41 percent.
Furthermore, notable movements were observed in key sectors:
- Telecommunications: Companies like Indosat Ooredoo Hutchison did okay, showing stability.
- Construction Materials: Semen Indonesia did quite well, going up by 0.87 percent.
- Mining: But companies like Aneka Tambang and Vale Indonesia didn’t have a good day, going down by 1.76 percent and 2.58 percent, respectively.
Taking a Look at Wall Street and Market Feelings: On Friday, Wall Street’s performance was somewhat unclear, with major indices showing mixed trends. The NASDAQ closed slightly higher, but the Dow and S&P 500 ended lower. The Dow dropped by 305.50 points, down 0.77 percent, while the NASDAQ saw a small increase of 27.02 points, or 0.16 percent. The S&P 500 fell by 7.35 points, or 0.14 percent.
Technology Sector Highlight: Nvidia stood out in the technology sector on the NASDAQ, seeing a significant increase of 3.1 percent. The chipmaker’s strong performance, reaching a new record high in closing, shows its importance in driving trading on Wall Street.
Oil Market Dynamics: Oil prices went down on Friday because the dollar got stronger and the Federal Reserve decided to keep interest rates higher. West Texas Intermediate (WTI) Crude oil futures for May ended at $80.63 a barrel, showing how currency changes affect commodity markets.
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