Jakarta equities closed lower on Wednesday, with the IDX Composite finishing the session down 0.55% as selling pressure in the Infrastructure, Agriculture and Basic Industry sectors pushed the benchmark into negative territory.
At the close in Jakarta, the IDX Composite Index registered a 0.55% decline.
Among individual stocks, Danasupra Erapacific Tbk (DEFI) posted the largest advance on the index, climbing 34.83% or 31.00 points to finish at 120.00. Griptha Putra Persada Tbk PT (GRPH) rose 25.00% or 13.00 points to end the session at 65.00, and Ace Oldfields PT (KUAS) also gained 25.00% or 18.00 points to close at 90.00.
On the downside, Bank Artha Graha Internasional (INPC) declined 14.57% or 29.00 points to 170.00 at the close. Indospring Tbk (INDS) slipped 14.38% or 105.00 points to finish at 625.00, while Hotel Fitra International Tbk PT (FITT) fell 14.29% or 85.00 points to 510.00.
Market breadth on the Jakarta Stock Exchange was negative, with 385 stocks falling versus 328 advancing and 146 unchanged.
Commodities markets showed notable moves on the day. Crude oil for April delivery rose 2.83% or 2.36 to $85.81 a barrel, while Brent oil for May delivery gained 2.51% or 2.20 to $90.00 a barrel. In precious metals, the April Gold Futures contract declined 0.93% or 48.94 to trade at $5,193.16 a troy ounce.
Currency markets reflected modest rupiah weakness. The USD/IDR pair was up 0.36% at 16,863.30, and AUD/IDR rose 0.78% to 12,089.04. The US Dollar Index Futures in turn was quoted 0.09% higher at 98.90.
Overall, the session combined sector-specific selling and a handful of strong individual gains, while global commodity moves and currency shifts coincided with the domestic index decline.
Key points
- IDX Composite closed down 0.55%, pressured by Infrastructure, Agriculture and Basic Industry names.
- Top gainers included DEFI (+34.83%), GRPH (+25.00%) and KUAS (+25.00%); major decliners included INPC (-14.57%), INDS (-14.38%) and FITT (-14.29%).
- Crude and Brent oil rose sharply, gold futures fell, and the rupiah weakened versus the US and Australian dollars.
Risks and uncertainties
- Sector concentration of losses - continued pressure in Infrastructure, Agriculture and Basic Industry could extend downward moves in the index.
- Commodity price volatility - sharp gains in crude and Brent prices may influence energy-related equities and broader market sentiment.
- Currency fluctuations - rupiah weakness against the US dollar and Australian dollar could affect import costs and foreign investor flows.