Rose, IHSG Opened Up

Although the majority of regional markets lackluster, but the Composite Stock Price Index (IHSG) managed to rebound in early trading Thursday (4/12/2012). At 9:32 pm in Jakarta, the IHSG rose 0.14 percent to a record 4138.58 position.

A total of 30 stocks advanced to the green zone, and only 14 stocks that are corrected. While 73 shares remained silent on the spot.

Domestic exchange rate is sustained strengthening that occurs in almost all sectors of the stock. Various sectors of the industry becoming a champion with the increase of 0.77 percent, followed by the construction sector rose 0.48 percent.

Large cap stocks the top gainers, this morning, among others, PT Bumi Resources Tbk (Bumi), which rallied 1.16 percent to Rp 2175. Followed by PT Bukit Asam Coal Limited (PTBA) who managed to advance 1.04 percent to Rp 19 400, and the shares of PT United Tactors Tbk (UNTR) advanced 0.98 percent to Rp 31,000.

While the shares are being dragged into a row of the top losers, such as PT Indika Energy Tbk (INDY), which fell 1.03 percent to Rp 2,400, and PT Vale Indonesia Tbk (INCO) which eroded 0.78 percent to Rp 3200.

Head of Research Universal Broker Indonesia Satrio Utomo rate, IHSG is still in a weakening trend. However, the rise in the Dow Jones Industrial Average (DJIA) of 0.7 per cent at the close last night, seemed to give strength to survive through the IHSG level support.

Satrio predicted, today, IHSG will move in a narrow range of 4120-4150. "The pressure is going to happen, given the negative sentiment of the mining tax will still make pertambangn depressed stocks," explained Satrio.

Namuin, he still recommends Buy on Weakness for bluechips shares as ASII, GGRM, BBRI, and BMRI.