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Pediafx – The Composite Stock Price Index (IHSG) rose to 6,913.94 at the close of the first trading session today, Monday, August 28, 2023.

Pediafx — The Composite Stock Price Index (IHSG) rose to 6,913.94 at the close of the first trading session today, Monday (August 28, 2023). Along with the index’s strengthening, stocks of AMMN, BMRI, and NATO were observed to be among the most actively traded stocks during the afternoon. At 12:00 PM WIB, IHSG increased by 0.27 percent or 18.50 points to the level of 6,913.94 in the afternoon trading. IHSG moved within the range of 6,903.12 to 6,930.19 throughout the session. There were 277 gaining stocks, 230 declining stocks, and 227 stocks in a stagnant position. The market capitalization was recorded at Rp10.231 trillion.

The most actively traded stock in today’s trading session was PT Amman Mineral Internasional Tbk. (AMMN) with a transaction value of Rp205.5 billion. AMMN stock increased by 2.90% to Rp4,260. The second most traded stock was PT Bank Mandiri (Persero) Tbk. (BMRI) with a transaction value of Rp159.4 billion. BMRI stock rose by 0.85% to Rp5,950.

In the third position, the most actively traded stock was PT Surya Permata Andalan Tbk. (NATO) with a transaction value of Rp145.5 billion. NATO stock increased by 0.41 percent to Rp494. Other listed companies in the most actively traded stocks include BRPT, which rose by 6.80 percent to Rp1,100. Furthermore, BOGA stock was observed to remain stagnant at the level of Rp1,235. Additionally, BBCA stock weakened by 0.81 percent to Rp9,200. Meanwhile, the top losers in today’s session were ASHA, which plummeted by 14.75 percent or 27 points to the level of 156. This was followed by GMFI, which weakened by 9.68 percent or 9 points to the position of 84. Furthermore, LMAX and PEGE stocks both dropped, with LMAX down 6.74 percent to the level of 332 and PEGE down 5.18 percent to the position of 366.

Previously, Phintraco Sekuritas Research Team stated that Wall Street indexes closed higher on Friday, August 25, 2023. This increase marked the end of three consecutive weekly declines for Nasdaq and S&P 500. However, DJIA still recorded a weekly decline. This positive sentiment was driven by a speech from the head of the Federal Reserve, Jerome Powell, on August 25, 2023, expressing optimism about the outlook of the US economy. However, Powell did not provide clear indications regarding the Fed’s policy in the upcoming September 2023 FOMC meeting.

Receiving positive sentiment from overseas, the Indonesian Composite Stock Price Index (IHSG) has the potential to test the resistance level of 6,930 at the beginning of this week. Meanwhile, for the next week, it is expected that the IHSG will continue to consolidate above the support level of 6,830. Returning to external factors, the US economic growth data for the second quarter of 2023 (August 30, 2023) can validate the Fed’s outlook on the US economy mentioned above. Domestically, market participants are monitoring the inflation and manufacturing index data for August 2023 (September 1, 2023). Inflation is expected to increase but is believed not to disrupt domestic financial stability.

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