BREN shares hold IDX Composite from free fall

Jakarta—The Indonesia Composite Index (IDX Composite) closed lower to Rp7,760.95 on Wednesday, September 11. The closing in the red zone occurred after the IDX Composite had breached the 7,800 level at 7,802.47.

Today’s market capitalisation was recorded at IDR 13,381.8 trillion.

Of the jumbo market capitalisation stocks, shares of Prajogo Pangestu’s conglomerate PT Candra Asri Pacific Tbk (TPIA) led the weakening through a price decline of 3.50% to Rp8,950 per share.

However, another Prajogo Pangestu business group issuer, PT Barito Renewables Energy Tbk (BREN), prevented the IDX Composite from falling further. In today’s trading, BREN shares closed significantly higher by 3.48% to 11,900.

Thus, throughout the current year BREN shares have strengthened by 59.2%. From this strengthening, Barito Renewables Energy’s market capitalisation has touched IDR 1,592.06 trillion, and has increasingly established itself as the issuer with the largest market cap value on the Indonesia Stock Exchange (IDX). (hs)

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