Published on 29/08/2024 at 07:58 GMT+7 Reading time
The stock trading of PT Bayan Resources, under the trading code BYAN, witnessed a massive cross-transaction in the negotiated market valued at Rp101.84 trillion (US$6.6 billion) on Wednesday, August 28, 2024.
This transaction took place below the average market price, at Rp13,888 per share, while the coal mining company's shares were trading within the range of Rp16,650 to Rp17,800 per share on the same day.
As a result, this substantial transaction significantly contributed to the surge in the Indonesia Stock Exchange Composite Index (IHSG), which saw a record-high increase of 0.37 percent, reaching a level of 7,625 at the close of the first trading session on Wednesday.
According to data from the Indonesia Stock Exchange (IDX), the total value of stock transactions for the day reached Rp109.88 trillion, with a volume of 17.69 billion shares traded and a frequency of 770,677 transactions.
Among the traded stocks, 307 saw gains, 257 declined, and 217 remained unchanged, with the market capitalization of the IHSG reaching Rp13,029 trillion in the first session.
At 2:13 PM on Wednesday, BYAN's stock was observed to have risen by 4.05 percent, reaching a level of Rp17,325 per share. The volume traded was 527,900 shares, and the company's market capitalization stood at Rp577.50 trillion. Over the past week, BYAN's stock price has increased by 2.06 percent.
However, over the last three months, the stock has seen a decline of 6.98 percent and a year-to-date (YTD) drop of 12.94 percent. Interestingly, despite these declines, BYAN’s stock has surged by 1,173 percent when calculated over the last three months.
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