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IDX Composite rises 0.77% on positive domestic data, sectoral gains
The IDX Composite rose 0.77 percent on Friday to close at 7,195.56, supported by positive domestic data and global market trends.
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An employee walks past a giant monitor showing the fluctuations of the Composite index at the Indonesia Stock Exchange (IDX) in Jakarta on Aug. 5, 2024. The IDX Composite rose 0.77 percent on Nov. 22, 2024, supported by positive domestic data and global market trends. (Antara/Dhemas Reviyanto)
The Indonesia Stock Exchange (IDX) Composite index closed higher on Friday, gaining 0.77 percent to finish at 7,195.56.
The total transaction value reached Rp 9.8 trillion (US$630 million), with a trading volume of 23.6 billion shares. Trading data showed that 279 stocks increased, 268 declined and 242 remained unchanged.
Despite mixed global market sentiment, the rally was supported by gains across several sectors, including technology, transportation and financials.
Nine out of 11 sectoral indices ended in positive territory. The technology sector saw the strongest gain, rising by 2 percent, followed by the transportation and logistics sector, which jumped by 1.95 percent. The financial sector gained 1.08 percent, while the industrial and healthcare sectors increased by 0.52 percent and 0.5 percent, respectively. The energy sector also closed green, with a 0.48 percent increase.
Conversely, non-primary consumer goods fell by 0.49 percent, and the infrastructure sector lost 0.2 percent.
In the LQ45 index, the top gainers were PT Bank Syariah Indonesia (BRIS), which surged by 9.67 percent. Then, PT GoTo Gojek Tokopedia (GOTO) was up 8.33 percent and PT Merdeka Battery Materials (MBMA) rose by 7.84 percent.
The biggest decliners in the LQ45 were PT Mitra Adiperkasa (MAPI), which dropped by 3.23 percent, PT Aneka Tambang (ANTM), which fell by 2.68 percent and PT Indosat (ISAT), which declined by 2.4 percent.
The IDX Composite's performance was partly driven by positive domestic economic data. Bank Indonesia reported a surplus in the country's account balance for Q3 2024, supporting investor sentiment. The $5.9 billion surplus marked a significant improvement from the previous quarter's deficit.
Global market movements also played a role, with positive market trends in the United States and other regional markets bolstering confidence. Investors also await upcoming US manufacturing data, which could impact global market direction.
