Index Up as Investors Seek Bakrie Shares

VIVAnews - Share accumulation that market players took toward the shares belonging to Bakrie Group is seen as the cause of composite stock price index in the Indonesia Stock Exchange (IDX) to remain in the positive zone.

The index was up by 27.05 points (1.65 percent) to 1,661.84 in the second session of Monday, April 20. On the first session in the morning, the index gained 14.94 points (0.91 percent) at 1,649.73.
 
Total transaction reaches Rp 5.33 trillion (US$498.3 million).

Stock market analyst Gifar Indra Sakti said the significant rise was due to a fact that foreign investors sought after the shares belonging to Bakrie group, especially those belonging to PT Bumi Resources Tbk.

The trading in the IDX concerning the shares belonging to Bakrie group is as follows: PT Bakrie & Brothers (BNBR) gained Rp 19 (25 percent) to Rp 95; PT Bakrie Telecom Tbk (BTEL) earned Rp 18 (20.45 percent) to Rp 106; PT Bakrieland Development Tbk (ELTY) gained Rp 18 (20.45 percent) to Rp 106; BUMI gained Rp 290 (24.36 percent) to Rp 1,480; and PT Energi Mega Persada Tbk (ENRG) gained Rp 28 (20.43 percent) to Rp 165.

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Translated by: Bonardo Maulana Wahono