JAKARTA — The Composite Stock Price Index (IHSG) faced significant downward pressure this past week, recording a decline of 4.63%. Amidst this volatile market environment, specific stocks emerged as key market leaders and laggards, significantly influencing the index’s overall movement.
Taking the top spot among the week’s market leaders is PT Mora Telematika Indonesia Tbk. (MORA). The stock provided a substantial 50.04-point contribution to the IHSG, surging 59.24% over the week with a free-float market capitalization (MCFF) of Rp60 trillion.
Banking giants also played a pivotal role in supporting the index. PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) secured the second position, adding 42.34 points to the IHSG with a 9.03% price increase and an MCFF of Rp228.04 trillion. Following closely is PT Bank Central Asia Tbk. (BBCA) in third place, contributing 30.45 points following a 5.56% gain, supported by a significant MCFF of Rp258.04 trillion.
Other notable performers driving the IHSG included PT Bank Mandiri (Persero) Tbk. (BMRI) and PT Telkom Indonesia (Persero) Tbk. (TLKM). BMRI saw a 5.47% rise contributing 18.78 points, while TLKM climbed 5.34%, adding 15.66 points to the index. Furthermore, PT Barito Pacific Tbk. (BRPT) and PT DCI Indonesia Tbk. (DCII) also bolstered the market; BRPT jumped 11.72% for a 12.10-point contribution, while DCII rose 5.42%, adding 10.66 points.
Rounding out the leaders, PT Sumber Alfaria Trijaya Tbk. (AMRT) provided a 6.13-point boost following a 12.12% weekly rally. Additional support came from PT Bank Negara Indonesia (Persero) Tbk. (BBNI), which contributed 4.53 points after a 3.76% gain, and PT Sinar Mas Multiartha Tbk. (SMMA), which added 4.51 points following a 4.17% rise.
Conversely, the IHSG’s performance was held back by a segment of stocks acting as significant drags on the index. Leading this list of top laggards was PT Amman Mineral Internasional Tbk. (AMMN), which pressured the index by 27.04 points. Its shares fell 17.45% during the week, with an MCFF of Rp57.06 trillion.
The pressure continued with PT Dian Swastatika Sentosa Tbk. (DSSA), which pulled the index down by 26.90 points after a sharp 18.89% decline, and PT Barito Renewables Energy Tbk. (BREN), which subtracted 13.28 points following an 8.07% correction.
Commodity-related stocks also faced downward momentum, with PT Merdeka Gold Resources Tbk. (EMAS) and PT Merdeka Copper Gold Tbk. (MDKA) dragging on the index after declines of 13.45% and 13.93%, respectively. The coal and mining sector also struggled, as PT Bumi Resources Tbk. (BUMI) and PT Bumi Resources Minerals Tbk. (BRMS) both weighed on the index, with each contributing a negative 8.26 points as their prices fell by 10% and 6.83% respectively.
Finally, market heavyweight PT GoTo Gojek Tokopedia Tbk. (GOTO) contributed to the bearish trend by falling 7.41%, resulting in a 7.87-point negative impact. The list of laggards was completed by PT Adaro Andalan Indonesia Tbk. (AADI), which reduced the IHSG by 7.25 points after an 18.75% drop, and PT Vale Indonesia Tbk. (INCO), which weakened by 20.8%, subtracting 6.87 points from the index.
Summary
The Composite Stock Price Index (IHSG) experienced a significant market correction, declining by 4.63% over the past week. Despite this volatility, several stocks acted as major gainers, led by PT Mora Telematika Indonesia Tbk. (MORA) with a 59.24% surge. Key banking institutions including BBRI, BBCA, and BMRI also provided essential support to the index, alongside notable performances from companies like TLKM and BRPT.
Conversely, the index faced downward pressure from significant laggards, most notably PT Amman Mineral Internasional Tbk. (AMMN) and PT Dian Swastatika Sentosa Tbk. (DSSA). Commodity-linked firms, including various mining and coal companies, also contributed to the bearish trend. Additionally, shares of GOTO and INCO experienced declines, further weighing on the overall market performance for the week.
