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IDX Composite rises 0.74%, ends week in green
The IDX Composite rose 0.74 percent to 7,544.29 by the close on Friday to end the week with gains.
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A custodian cleans the floor of the Indonesia Stock Exchange (IDX) in South Jakarta on April 16, 2024. The IDX Composite rose 0.74 percent to 7,544.29 at the close of trading on Aug. 23 to end the week with gains. (Antara/Erlangga Bregas Prakoso)
T
he Indonesia Stock Exchange (IDX) Composite increased 0.74 percent, or by 55.62 points, to reach 7,544.29 by the closing bell on Friday, finishing the week in the green.
The IDX Composite recorded a trading volume of 20.64 billion shares and a transaction value of Rp 12.83 trillion (US$823.75 million) on Aug. 23. Of the traded stocks, 407 rose, 170 fell and 212 were unchanged.
Gains across all sectors supported the composite index’s overall rise. Among the 11 sectors on the bourse, the largest increases were recorded in the industrial sector at 1.65 percent, energy at 1.28 percent, the non-primary consumer goods sector at 1.26 percent, the finance sector at 1.20 percent and the transportation sector at 1.15 percent.
The top gainers in the LQ45 index for the 45 top performing stocks by market capitalization were PT Bank Tabungan Negara (BBTN), which rose 3.79 percent, PT Perusahaan Gas Negara (PGAS), up 3.68 percent, and PT Bank Negara Indonesia (BBNI), up 3.32 percent.
The top losers were PT Sumber Alfaria Trijaya (AMRT), which fell 1.38 percent, PT Jasa Marga (JSMR), down 1.37 percent, and PT ESSA Industries Indonesia (ESSA), down 1.29 percent.
By the close of trading on Monday, the IDX Composite increased 0.47 percent to reach a new high of 7,466, which was promptly surpassed on Tuesday when the index rose 0.9 percent to close at 7,533.
On Wednesday, the index rose 0.35 percent to close at 7,560 after a brief surge of 0.77 percent to reach 7,592 in early morning trading.
IDX development director Jeffrey Hendrik noted that the exchange reacted similarly to both market highs and lows.
"This is the market dynamics, reflecting investor expectations," Jeffrey said on Friday at the bourse in South Jakarta.
On Thursday, the index opened lower at 7,526, down 27.82 points or 0.37 percent, and then dropped 0.86 percent shortly afterward to 7,489.
This decline preceded demonstrations planned for Thursday and Friday in several cities, organized by students, workers, academics and members of the general public to protest a decision by the House of Representatives to approve lawmakers’ proposed revisions to the 2016 Regional Elections Law during a plenary meeting.
The legislature later canceled the law revision on Thursday following massive nationwide protests.
