Market Recap
JCI rallied yesterday amid the outcome of BI’s Board of Governors Meeting. Top Gainers JCI: Basic Industry (+2.45%), Property (+1.31%), Finance (+0.23%).

INNI Index rallied by 0.25%, slightly lower than JCI’s rally of 0.29%, as two CPO stocks, namely AALI and LSIP, dropped by 2.89% and 2.59% due to European Union’s authorities banning CPO as fuel. INNI’s top gainers, on a sectoral basis, are the property (+1.95%) and the infrastructure (+1.68%).

Daily Foreign & Domestic Sector Movement
Yesterday’s slight foreign net sell of IDR90 billion outflowed from JCI as the coal mining sector posted outflows of IDR120 billion. Prices of Newcastle coal muted at 7.4% in March intensified foreign investors’ fears of investing in the coal industry. China’s global growth, in particular, as the world’s main coal importer, is a catalyst for the coal industry.

Like the lackluster mining sector, the tobacco industry dimmed as domestic net sell of IDR56 billion outflowed from the sector. Furthermore, domestic investors expect BI to give more stimuli, accelerating domestic consumption, and BI leaves 7DRR unchanged at 6.0%.

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