Jakarta stocks eased on Tuesday in modest turnover as sentiment remained weak due to high oil prices, although positive earnings reports from several small-capped companies helped lend support.
The composite index dipped 0.62 percent to close at 841.35 points on turnover of 769 billion rupiah ($84.7 million). Decliners led advancers 55 to 46 while 93 issues were unchanged.
"Most blue chips corrected. Sentiment stayed weak, following the global market, as investors were concerned over high oil prices," said Fendi Susiyanto, an analyst at PT Bank Negara Indonesia.
He predicted stocks would consolidate in the near term with the index moving around the 835-856 point level. Concerns about oil prices would overshadow sentiment while corporate earnings results should affect the respective shares, he added. Companies are due to report quarterly financial results by the end of this month.
Among the biggest blue chip losers was the largest firm by market value, PT Telekomunikasi Indonesia Tbk, which dropped 2.91 percent to close at 4,175 rupiah.
Its rival in the mobile business, PT Indonesian Satellite Corp Tbk, the country's second largest telecommunications firm, fell 1.11 percent to 4,450 rupiah.
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