Six sectoral indices strengthened alongside the Composite, with the healthcare sector leading with a 1.53 percent rise.

The technology sector increased 1.32 percent, the transportation and logistics sector rose 1.24 percent, and the financial sector gained 0.45 percent. The primary consumer goods sector rose by 0.20 percent while the infrastructure sector edged up by 0.03 points.

Meanwhile, five sectors saw declines. The energy sector decreased by 0.46 percent, followed by the property and real estate sector, which fell 0.33 percent. Additionally, the industrial sector weakened by 0.32 percent, while the non-primary consumer goods sector fell 0.18 percent. Lastly, the raw materials sector declined by 0.14 percent.

For the second consecutive day, PT Bukalapak.com (BUKA) and PT ESSA Industries Indonesia (ESSA) were among the top three gainers on the LQ45 index.

BUKA recorded a 4.90 percent increase, while ESSA followed closely with a 3.15 percent gain. PT Bank Tabungan Negara (BBTN) was Friday’s top gainer, with a 9.47 percent increase.

Some 15.11 billion shares worth some Rp 9.88 trillion (US$623.77 million) were traded on the exchange on Friday. A total of 243 stocks strengthened, while 267 declined and 253 remained unchanged.

PT Mitra Pack (PTMP) experience the steeped decline on the LQ45, falling 10.36 percent, followed by PT AKR Corporindo (AKRA), down 4.23 percent, and PT Merdeka Copper Gold (MDKA), down 3.33 percent.

Bank Indonesia (BI), meanwhile, reported credit growth of 11.28 percent year-on-year (yoy) for February, in line with January’s credit growth of 11.83 percent.

Sharia financing also grew by 15.89 percent yoy in February. Solid demand for credit in the household and corporate sectors suggested sustained public consumption, despite BI’s 6 percent interest rate, in place since October 2023.

The central bank is optimistic that credit growth in 2024 will be 10 to 12 percent.