The index of BEI rose driven by stocks of base and mining industries."Jakarta (ANTARA News) - The Jakarta composite extended gain on Wednesday closing 23.43 points higher on regional sentiment.
The index of the Indonesian Stock Exchange (BEI) rose 0.43 percent to 4,853.01 points with the index of the 435 most liquid stocks up 0.41 percent to 839.46 points.
"The market in Asia including BEI gained on signs of growing exports and imports of commodities. The index of BEI rose driven by stocks of base and mining industries," Reliance Securities analyst Lanjar Nafi said here on Wednesday.
Lanjar said annual payments of dividend and action plans by number of corporations gave positive domestic sentiment to strengthen the market.
However, foreign investors ended the trade on Wednesday with foreign net buy of Rp98.4 billion.
Meanwhile, Asjaya Indosurya Securities analyst William Surya Wijaya said that stable oil price was one of the factors sustaining the BEI index at the positive territory.
Mining and energy base stocks tended to rise on Wednesday, he noted.
"However, investors need to be careful as oil prices could fall any time dragging down the prices of mining and energy stocks," he said.
He said the BEI index could reach the highest psychological level of 4,881 points, adding it is necessary to reach that level to strengthen the BEI index in short term.
Meanwhile, there were 318,164 transactions recorded in Wednesday trade with 7.78 billion shares worth Rp6.91 trillion changing hands.
Gainers outnumbered decliners by 189 to 95 with 188 share flat
Regional markets such as Hang Seng, Nikkei and Straits Times recorded gain.
(Uu.H-ASG/H-YH)
Editor: Priyambodo RH
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