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IDX Composite bounces back with 0.77% gain on Tuesday
The Indonesia Stock Exchange (IDX) Composite rebounded by 0.77 percent on Tuesday to close at 7,352.60 after facing early-week setbacks.
Change Size
People look at stock prices at the Indonesia Stock Exchange (IDX) in Jakarta on Jan. 2, 2024. (Antara/Asprilla Dwi Adha)
T
he Indonesia Stock Exchange (IDX) Composite rebounded by 0.77 percent on Tuesday to close at 7,352.60 after facing early-week setbacks.
Some 14.3 billion shares were traded over the trading day, representing some Rp 10.3 trillion (US$659.2 million) in value.
Of the listed stocks, 274 gained, 245 declined and 243 were flat.
Eight sectoral indices contributed to bounce-back. The financial sector led the surge with a 1.24 percent increase, followed by the industrial sector with a 0.92 percent increase. The raw goods and infrastructure sectors also joined the rally, each climbing by 0.85 percent.
Despite the overall market gain, three sectoral indices declined. The energy sector faced the most significant setback, falling by 1.13 percent. Meanwhile, the health and technology sectors declined by 0.21 percent and 0.15 percent, respectively.
Meanwhile, the LQ45 index also closed with a 1.26 percent jump, breaching the 1,000 mark. Leading the gainers were PT Bank Tabungan Negara (BBTN), with an 8.15 percent increase, and PT Sarana Menara Nusantara (TOWR) with a 5.71 percent surge.
On the other hand, PT Bukit Asam (PTBA) and PT Bank Jago (ARTO) emerged as the top losers within the LQ45, declining by 1.86 percent and 1.82 percent, respectively.
Regarding the market uptick, Inarno Djajadi, head of capital market supervision at the Financial Services Authority (OJK), said the domestic stock market was resilient amid the global economic slowdown.
"The Indonesian stock market until Feb. 16 still showed strengthening amid the global economic slowdown, where the IDX Composite strengthened 0.86 percent year-to-date [ytd] to 7,335.55 and recorded a net buy of Rp 20.05 trillion ytd," said Inarno during an annual OJK meeting on Tuesday, as quoted by Antara news agency.
Inarno also said the IDX Composite reached an all-time high of 7,403.08 on Jan. 5.
