Market Recap
JCI inched higher yesterday, as BI held its hawkish stance of 7DRR. Foreign inflows also supported the rally. Top Gainers: Mining (+1.50%), Basic Industry (+1.08%), Agriculture (+0.97%).
Daily Foreign & Domestic Sector Movement
Foreign investors cheered BI’s stance of keeping its 7DRR at 6%, as they flocked to the net buy of IDR293 billion on the banking sector. The infrastructure sector, the gas distribution, in particular, became targeted stocks. The allure of such sector was shown by the foreign inflows worth IDR165 billion into PGAS’s stocks after the release of its FY2018 financial performance. PGAS’ sales edged up 30% in FY2018, as it only grew by 1.2% in FY2017. Its net profit also soared by 121% in FY2018, much higher than that of 5% in FY2017.
Domestic investors still flocked to the poultry stocks whose profits were promising as it was still red-hot stocks. The revised-lower poultry stocks prove a boon for domestic investors to re-accumulated them.
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