Market Recap
JCI ended its rally, hampered by the banking sector. JCI’s Top Losers: Misc. Ind. (-2.4%), Basic Ind. (-1.4%), Mining (-1.2%).
INNI Index’s stocks virtually declined, excluding KINO, the consumer stock.
Daily Foreign & Domestic Sector Movement
JCI was vulnerable to foreign outflows of IDR319 billion with the largest foreign funds were withdrawn from the large-cap. banking stocks, and that suggested its bearish state on Thursday’s Jan. 30 trading session. Economists reasoned that the foreign outflows were attributable to the inadequate stimulus for spurring credits facilitated by lenders during 100 working days of Indonesia Maju Cabinet. On the other side, MDKA secured the largest foreign inflows of IDR46 trillion along with the solid prices of Comex April 2020 contract.
Meanwhile, the rupiah exchange rate for USD dipped 0.17% to 13,657.
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