Indonesian share prices closed 0.37 percent higher in a volatile session on Wednesday, with late interest in selected large caps helping the main index end in positive territory, dealers said. The Jakarta Stock Exchange composite index rose 7.381 points at 2,008.559, after an intraday low of 1,987.885 and a high of 2,016.031.
Volume was 7.68 billion shares worth 5.72 trillion rupiah (630.30 million dollars.) Declines led gainers 114 to 93, with 42 stocks unchanged. The rupiah was at 9,070/9,075 to the dollar compared to 9,075/9,080 late Tuesday. "With sentiment on select big cap stocks such as Telkom and PGN remaining negative, I think the late gains are not going to be sustained," said Krishna Dwi Setiawan, an analyst with Valbury Asia Securities. The market hit a record high of 2,019.676 on Friday last week so there is plenty of room for profit taking, dealers said.
Among gainers which helped keep the main index in the black, Astra rose 200 rupiah to 14,950, Unilever gained 200 to 5,850, Bank Mandiri added 25 to 3,075 and Bank Danamon rose 150 to 6,650.
Heavyweights Telkom and PGN however weighed on the broad market, with Telkom down 100 rupiah at 10,250 while PGN fell 200 or 1.9 percent to 10,200 after both reported weak first quarter results.
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