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IDX COMPOSITE - JAKARTA. The IDX Composite (IHSG) fell 0.55% this week, closing at 7,295.09 on Friday (23/2). This week's decline reverses the 1.39% gain in the previous week, February 12-16, 2024.
All five sectoral indices fell along with the IHSG this week. The technology sector fell the deepest, by 1.43%. The financial sector fell 0.68%. The basic materials sector fell 0.23%. The consumer staples sector fell 0.21%. The property and real estate sector fell a slight 0.01%.
Meanwhile, six sectors managed to gain despite the IHSG decline. The infrastructure sector jumped 2.54% this week. The consumer discretionary sector rose 1.33%. The healthcare sector rose 1.02%. The transportation and logistics sector rose 0.73%. The energy sector rose 0.31%. The industrial sector rose 0.18%.
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Top Gainers and Losers
The following are the top gainers on the stock exchange this week:
- PT Pulau Subur Tbk (PTPS) 90.10%
- PT Ancara Logistics Indonesia Tbk (ALII) 86.89%
- PT VKTR Teknologi Mobilitas Tbk (VKTR) 64.71%
- PT Asuransi Harta Aman Pratama Tbk (AHAP) 63.64%
- PT Sinergi Multi Lestarindo Tbk (SMLE) 55.45%
- PT Ecocare Indo Pasifik Tbk (HYGN) 26.28%
- PT Sumber Mineral Global Abadi Tbk (SMGA) 26.25%
- PT Adhi Kartiko Pratama Tbk (NICE) 24.02%
- PT Trimuda Nuansa Citra Tbk (TNCA) 23.24%
- PT WIR Asia Tbk (WIRG) 22.11%
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The top losers on the stock exchange this week are:
- PT Bersama Mencapai Puncak Tbk (BAIK) -36.08%
- PT Multi Medika Internasional Tbk (MMIX) -30.34%
- PT Tembaga Mulia Semanan Tbk (TBMS) -24.59%
- PT MNC Sky Vision Tbk (MSKY) -20.66%
- PT NFC Indonesia Tbk (NFCX) -20.59%
- PT Janu Putra Sejahtera Tbk (AYAM) -20%
- PT Humpuss Maritim Internasional (HUMI) -18.60%
- PT Humpus Intermoda Transportasi Tbk (HITS) -16.90%
- PT Citra Nusantara Gemilang Tbk (CGAS) -15.92%
- PT Champ Resto Indonesia Tbk (ENAK) -14.73%
According to data from the Indonesia Stock Exchange (IDX), foreign investors recorded a net buy of Rp 1.03 trillion this week.
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Analysis
The decline in the IHSG this week was in line with the decline in global stock markets, which were pressured by concerns about rising interest rates and inflation. The US Federal Reserve is expected to raise interest rates several times this year to combat inflation, which is at a 40-year high.
Despite the decline this week, the IHSG is still up 2.57% year-to-date. The Indonesian economy is expected to grow by 5.3% in 2024, supported by strong domestic demand and commodity prices.
