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IDX Composite falls 1.15% as Q2 2024 begins
As the second quarter of 2024 begins, the IDX Composite fell 1.15 percent. Insights about inflation and sectoral shifts have emerged amid market activity and the upcoming holiday.
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A woman walks on March 13, 2024, past an electronic display showing stock movements on the Indonesia Stock Exchange (IDX). The IDX Composite (IHSG) fell by 1.15 percent to 7,205.06 on April 1, 2024. (Antara/Akbar Nugroho Gumay)
T
he second quarter of 2024 began on Monday with a fall in the Indonesia Stock Exchange (IDX) Composite (IHSG) by 1.15 percent to 7,205.06.
In the past five days, the IHSG was down by 1.97 percent and has fallen 0.93 percent year-to-date.
"This week is the last before the long Idul Fitri holiday. For today [Monday], both the external and internal sentiments in the market tend to be active, and the IHSG has the potential to strengthen in a limited manner," the Lotus Andalan Sekuritas research team said on Monday, as quoted by the Antara news agency.
Statistics Indonesia (BPS) will also report inflation for March 2024. Inflation is expected to rise by 0.38 percent from the previous month with an increase in demand during Ramadan.
Meanwhile, according to the United States Department of Commerce, the Core Personal Consumption Expenditure (PCE) Price Index, excluding food and energy, had a 2.8 percent year-on-year (yoy) increase in February 2024.
The total transaction volume on Monday reached 16.90 billion units, valued at Rp 11.49 trillion (US$722.9 million). Among the listed stocks, 455 declined, 167 remained unchanged and 167 gained.
Ten sectors fell with the IHSG: the financial sector by 2.7 percent, transportation and logistics by 1.57 percent, health by 1.56 percent and the technology and primary consumer goods sectors by 1.01 percent.
The three top gainers were PT Ace Hardware Indonesia (ACES), which was up by 3.41 percent, followed by PT Indocement Tunggal Prakarsa (INTP), which increased by 2 percent and PT Telkom Indonesia (TLKM), which gained by 1.15 percent.
Meanwhile, PT Bank Syariah Indonesia Tbk (BRIS) had the most significant decline at 5.9 percent. The other two top losers were PT Mitra Pack (PTMP) and PT Bank Mandiri (BMRI), which declined by 5.13 percent and 4.83 percent, respectively.
