The Jakarta Composite Index (IHSG) closed with a bright and vibrant performance at the end of trading on Monday (23/12/2024), amidst the hopes of market participants for window dressing activities this week.
IHSG soared by 1.61% to reach 7,096.44. The index is now approaching the psychological level of 7,100.
The trading value of the index reached approximately Rp 9.3 trillion with 23.7 billion shares changing hands 999,674 times. Out of these, 326 stocks strengthened, 251 weakened, and 212 remained stagnant.
In terms of sectors, the healthcare sector was the biggest supporter of the IHSG at the end of trading today, reaching 2.79%.
From a stock perspective, banking giant PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) was the biggest supporter, contributing 20.5 index points. Additionally, telecommunication company PT Telkom Indonesia (Persero) Tbk (TLKM) also supported the IHSG with 9.3 index points.
This week, the financial market in Indonesia only operated for three days, as December 25-26 are public holidays for Christmas and collective leave. Despite the shortened trading week, the market still anticipates a Santa Rally, considering the significant decline in the IHSG throughout the previous week.
The world is awaiting the phenomenon of the Santa Claus Rally in the stock market, including in Indonesia. The Santa Claus rally is an exciting moment to earn profits towards the end of the year and is believed to be a positive sign for the coming year.
Historical data on the IHSG over the past 10 years show that the Santa Claus Rally momentum, combined with Window Dressing activities, significantly increases the probability of the IHSG closing in the green, with a chance as high as 90%.
Market sentiment from the global perspective that investors need to watch out for this week includes the release of the Consumer Confidence Index (CCI) data for the US in December 2024, which is expected to rise to 113 from 111.7 in November 2024. This indicates that consumer confidence in the US economy is relatively stable.
Overall, the market is optimistic about the potential for positive movements in the IHSG and is looking forward to a fruitful end to the year. Stay tuned to CNBC Indonesia for more updates and analysis on the financial markets.
For further information, you can also watch the video titled “IHSG Kembali Menguat, Balik ke Level 7.100-an” by clicking on the link provided above.
Next Article: Usai Anjlok Kemarin, IHSG Sesi I Menguat ke Level 7.137. Keep up with the latest developments in the market by following CNBC Indonesia.
