The Jakarta Composite Index (JCI) faced a sharp decline during Thursday’s trading session, dropping 2.03% to close at 6,956. The broader market sentiment was overwhelmingly bearish, with 576 stocks correcting, 133 advancing, and 105 remaining unchanged. This latest dip adds to a difficult period for the index, which has now retreated 5.72% over the past week and slumped 19.55% on a year-to-date (ytd) basis.
Trading data from the Indonesia Stock Exchange (IDX) recorded a total transaction value of Rp 21.83 trillion, supported by a trading volume of 48.19 billion shares across 2.66 million transactions. Despite the market volatility, the JCI maintained a total market capitalization of Rp 12,405 trillion.
Market activity was highlighted by significant crossing transactions among large-cap stocks. Notably, Bank Central Asia Tbk (BBCA) saw trades worth Rp 1.97 trillion at a price of Rp 5,900. Other major transactions included Adaro Energy Indonesia Tbk (ADRO), which traded at Rp 2,400 with a value of Rp 270 billion, and Sinar Mas Multiartha Tbk (SMMA), which recorded transactions totaling Rp 115.59 billion at a price of Rp 10,239.
Broad market weakness was evident across the board, as all eleven sectors on the IDX finished in the red. The infrastructure sector bore the brunt of the sell-off, plummeting 2.93%. Within this sector, Telkom Indonesia Tbk (TLKM) saw its shares slide 2.09% to Rp 2,810.
Regional sentiment remained mixed as investors navigated global market pressures. In Asia, the Hang Seng index fell by 1.28% and the Nikkei retracted by 1.06%. Conversely, the Shanghai Composite managed a slight gain of 0.11%, while the Straits Times index outperformed its peers with a rise of 0.93%.
Top Gainers:
- Adhi Karya Tbk (ADHI) rose 16.48% to Rp 212
- Indospring Tbk (INDS) rose 15.79% to Rp 440
- Bumi Resources Tbk (BUMI) rose 4.35% to Rp 240
Top Losers:
- Dian Swastika Sentosa Tbk (DSSA) fell 6.10% to Rp 1,615
- ESSA Industries Indonesia Tbk (ESSA) fell 8.90% to Rp 870
- Bukalapak.com Tbk (BUKA) fell 3.87% to Rp 149
Summary
The Jakarta Composite Index (JCI) experienced a significant downturn, closing down 2.03% at 6,956. This decline contributes to a year-to-date loss of 19.55% for the index. The broader market sentiment was bearish, with most stocks correcting and all eleven sectors ending in the red, led by infrastructure which dropped 2.93%.
Significant trading activity included large crossing transactions in major stocks such as Bank Central Asia (BBCA), Adaro Energy Indonesia (ADRO), and Sinar Mas Multiartha (SMMA). Despite the overall market weakness, some stocks like Adhi Karya (ADHI) and Indospring (INDS) showed substantial gains, while others like Dian Swastika Sentosa (DSSA) and ESSA Industries Indonesia (ESSA) registered notable losses.