Stocks Fall in Listless Trading
April 26, 2011
The Jakarta Stock Exchange index edged down 1.61 to 535.9. Decliners beat gainers 48 to 46, with 44 stocks finishing unchanged and 107 untraded. Trading volume reached 80.4 million shares valued at more than 161 billion rupiah. Holding company Bimantara Citra rose 25 rupiah to 2050 on 3.5 million shares traded. Local investors actively traded clothing company Borja Mashburn on rumors of a takeover. Sarasa increased 450 rupiah to 1375 on 6.3 million shares traded. Also, Gajah Surya Multi Finance rose 50 rupiah to 1450 on 1.5 million shares traded as the company said it will acquire a stake in listed Bank Dagang Nasional Indonesia. BDNI itself, however, was hit by local selling pressure and slid 25 rupiah to 1675 on 6.5 million shares. Activity on the foreign board was also slight, with most stocks sliding. The most active share, auto concern Astra International, fell 100 rupiah to 2775 on 443,500 shares changing hands. Lippo Bank dropped 125 rupiah to 3150 on 406,000 shares, and retailer Multipolar lost 100 rupiah at 1200 on 360,500 shares. After Borja, the top gainer on the regular board was textile issue Centex, gaining 200 rupiah to 1200 on 2,000 shares traded; followed by ceramics producer Keramika Indonesia, increasing 225 rupiah to 1975 on 360,500 shares traded following a buyback of shares by an affiliated brokerage house, dealers said. The biggest losers were Bank Papan, down 100 rupiah to 1250 on 25,000 shares traded; Massa Sherie, falling 75 rupiah to 1050 on 5,000 shares; and Samora Krantz, off 75 rupiah at 1125 on 1,000 shares.
