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IDX Composite starts October with 1.52% rise
The Indonesia Stock Exchange (IDX) Composite index closed up 1.52 percent on Oct. 1, driven by energy, basic materials and the property sector. OJK attributed the rise to positive sentiment from recent interest rate cuts.
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A custodian cleans the floor of the Indonesia Stock Exchange (IDX) building in South Jakarta on April 16, 2024. The IDX Composite index closed up 1.52 percent on Oct. 1, 2024. (Antara/Erlangga Bregas Prakoso)
T
he Indonesia Stock Exchange (IDX) Composite index closed up 114.20 points, or 1.52 percent, on Tuesday, the first day of October, to reach 7,642.13.
Ten out of 11 sectoral indices supported the day’s rise. The top-performing sectors were energy, which gained 2.50 percent, basic materials, which added 2.19 percent, and property, which rose by 1.02 percent.
The health sector was the only one to slip into the red, declining by 0.02 percent.
The day’s total trading volume was 25.10 billion shares, with a total value of Rp 41.26 trillion (US$2.71 billion). During trading, 310 stocks rose, 258 declined and 228 went unchanged.
The top gainers in the LQ45 index were PT ESSA Industries Indonesia (ESSA), with a 9.04 percent gain. PT Vale Indonesia (INCO) was also up 3.43 percent, while PT Adaro Energy Indonesia (ADRO) rose by 2.89 percent.
Meanwhile, the top losers were PT Aspirasi Hidup Indonesia (ACES), which was down 2.72 percent, PT Dayamitra Telekomunikasi (MTEL), which fell 1.56 percent, and PT XL Axiata (EXCL), which slipped 1.31 percent.
The IDX Composite index hit an all-time intraday high of 7,910 on Tuesday.
The Financial Services Authority (OJK) attributed the gain to the impact of a recent interest rate cut. OJK chief executive of capital markets, derivative finance and carbon exchange supervision Inarno Djajadi said that as of trading on Sep. 27, 2024, the IHSG had recorded a year-to-date increase of 5.83 percent.
“In line with global market movements driven by positive sentiment from interest rate cuts, the domestic stock market strengthened in September 2024, even reaching a high of 7,905 on Sep. 19, 2024,” Djajadi said at the OJK Board of Commissioners monthly meeting on Tuesday.
