Market Recap
JCI closed slightly lower yesterday. Continued foreign outflows and minimum positive sentiments suppressed JCI. Top Losers: Basic Industry (-1.13%), Trade (-0.86%), Finance (-0.40%).
INNI Index slipped by 0.27%, slightly deeper than JCI’s decline of 0.20%. The trade sector, two contributors of which LPPF and UNTR’s stocks respectively declined by 3.6% and 2.3%, held INNI Index back. The top gainer of INNI Index was the consumer sector. That matched well with our yesterday’s outlook. Additionally, GGRM and UNVR stocks nudged up 1.6% and 1.2%, respectively.
Daily Foreign & Domestic Sector Movement
Foreign capital of IDR674 billion outflowed from JCI, with the banking sector recorded the biggest outflows of nearly IDR359 billion. Foreign investors feared of the downward revisions of China and the UE growth, impacting emerging markets.
Domestic investors posted the net sell of IDR24 billion in the building construction sector, as WEGE’s stocks rallied by 1.6% in intraday. Domestic investors took that momentum for 3-consecutive-day profit taking.
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