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IDX Composite closes week in positive territory, up 0.35%
The IHSG closed the week on a high note, gaining 0.35 percent to 7,159.59 on news of growing foreign exchange reserves.
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An employee takes a picture of stock movements at the Indonesian Stock Exchange (IDX) in Jakarta on July 4, 2023. The IDX Composite closed the week on a high note on Dec. 8, 20203, gaining 0.35 percent to 7,159.59 on news of growing foreign exchange reserves. (Antara/Hafidz Mubarak A)
T
he Indonesia Stock Exchange (IDX) Composite (IHSG) ended Friday’s session on a positive note, rising by 0.35 percent to 7,159.59.
This upward trend was attributed to an increase in foreign exchange (forex) reserves.
According to Bank Indonesia's report, Indonesia's forex reserves at the end of November rose to US$138.1 billion from October's $133.1 billion. The central bank said the growth could support external sector resilience and ensure stability in the macroeconomic and financial systems.
At the opening of the trading day, the IHSG had already shown promise, opening up 0.17 percent to 7,146.98.
The Lotus Andalan Sekuritas research team had earlier suggested potential gains in the Composite index.
"The IHSG has the opportunity to move with limited gains at the end of this week," the team said on Friday morning, as quoted by Antara news agency.
Market activity saw a total trading volume of 29.73 billion shares, amounting to Rp 13.98 trillion ($895.2 million). Of the listed stocks, 228 gained, 297 declined and 240 remained unchanged.
Six sectoral indexes supported the positive momentum.
The technology sector led with a 2.89 percent rise. Infrastructure and energy rose by 2.04 percent and 1.79 percent, respectively.
On the flip side, the transportation sector experienced a 1.04 percent decline. The non-primary consumer goods sector fell by 0.4 percent, while the property sector dipped by 0.39 percent.
The LQ45 index also concluded the day up, rising by 0.52 percent to 950.37. Top gainers in the LQ45 were PT United Tractors (UNTR), with a 2.76 percent increase, PT Chandra Asri Petrochemical (TPIA), surging by 8.05 percent and PT Indofood CBP Sukses Makmur (ICBP), climbing 3.05 percent.
Conversely, PT Bank Negara Indonesia (BBNI) led the losers with a 3.79 percent decline. Meanwhile, PT Indocement Tunggal Prakarsa (INTP) and PT Indah Kiat Pulp and Paper (INKP) dipped by 1.57 percent and 1.81 percent, respectively.
