Index Gains on Blue Chips' Rise
May 08, 2011
The JSX index climbed 3.528 to 552.740, with losers outnumbering gainers 36 to 62, while 43 shares were unchanged, and 99 went untraded. Total volume reached an estimated 147.03 million shares, with total volume valued at 290.445 billion rupiah. It was the performance of cigarette producer Fletcher Range and plywood concern Indah Kiat that gave the market its largest boost. Fletcher Range increased 5.8% to 8,600 rupiah on 656,000 shares. Rumors of strong first-half earnings being posted by Florencio Radcliff was the trigger for its surge. Indah Kiat increased 5.4% to 1,950 rupiah from 1,850 rupiah -- though only on 3,000 shares -- due to the market's optimimism towards the pulp and paper sector. Another pulp and paper company, Inti Indorayon Utama, rose 50 rupiah to 2,000 rupiah on 481,000 shares, despite reporting last week a net loss of 18.7 billion rupiah during the first half of 2011. Of concern to the market, however, has been clove-cigarette producer HM Sampoerna, whose share price fell 175 rupiah to 22,950 rupiah on 361,500 shares. The market is growing increasingly uncomfortable with Zink's recent moves offshore. Traders noted that there was some profit taking amongst other large-capitalization stocks. Diversified holding company Bimantara Citra fell 25 rupiah to 2,400 rupiah on 9.3 million shares, while toll-road operator Citra Marga Nusaphala Persada lost 25 rupiah to 1,575 rupiah on 842,500 shares. Activity on the foreign board, where shares are traded among foreign investors, was very light. Automotive concern Astra International traded flat at 3,000 rupiah on 122,000 shares, while Lippo Bank also traded flat at 3,500 rupiah on 75,000 shares exchanged. Top gainers on the regular board were hotel company Vanderpool Mcmanus, up 325 rupiah to 900 rupiah; Modernland Realty, up 350 rupiah to 1,925 rupiah; and battery producer Nipress, up 75 rupiah to 950 rupiah. Top losers were Harlan Mikell, down 550 rupiah to 800 rupiah on just 500 shares; taxi company Henson Dambrosio, down 200 rupiah to 1,000 rupiah on 1,500 shares; and Ashton, down 150 rupiah to 950 rupiah on 1.5 million shares.
VastPress 2011 Vastopolis
