The Indonesia Composite Index (IHSG) experienced a sharp decline during Friday’s trading session (May 8), ending the day firmly in the red territory according to data compiled from Stockbit.
At the close of the market, the IHSG corrected by 204.93 points, or 2.853%, settling at the 6,969.396 level. This bearish sentiment also weighed on the LQ45 index, which dropped by 2.394% to reach 677.179. The total transaction value for the day reached Rp35.81 trillion, with 55.77 billion shares traded across 2.80 million transactions.
Market Movers: Top Gainers and Losers
Despite the broader market downturn, several stocks managed to post significant gains. Leading the Top Gainers were MPOW (Megapower Makmur), which rose 34.55% to 148, followed by MEDS (Hetzer Medical Indonesia) climbing 34.48% to 117. Other notable performers included IRRA (Itama Ranoraya) at 510 (+25.00%), PEHA (Phapros) at 372 (+24.83%), and KAEF (Kimia Farma) at 635 (+24.51%).
Conversely, the Top Losers list was dominated by companies facing double-digit declines. ELPI (Pelayaran Nasional Ekalya Purnamasari) fell 15.00% to 1,445, and ESIP (Sinergi Inti Plastindo) also slid 15.00% to 187. They were trailed by DSSA (Dian Swastatika Sentosa) at 1,310 (-14.94%), MINA (Sanurhasta Mitra) at 342 (-14.93%), and NIKL (Pelat Timah Nusantara) at 400 (-14.89%).
Market Activity: Value and Volume
Investor interest remained concentrated in major financial and commodity stocks. By Top Value, Bank Mandiri (BMRI) led the charts with a transaction value of Rp1.69 trillion, followed by BBCA at Rp1.26 trillion and BBRI at Rp1.10 trillion. Merdeka Copper Gold (MDKA) and Timah (TINS) also saw high activity with values of Rp876.05 billion and Rp738.61 billion, respectively.
In terms of Top Volume, GOTO (GoTo Gojek Tokopedia) saw the highest activity with 59.68 million shares traded, followed by BUMI (Bumi Resources) at 27.17 million shares, and BNBR (Bakrie & Brothers) at 25.28 million shares. KOTA (DMS Propertindo) and MEDS (Hetzer Medical Indonesia) rounded out the list with 11.60 million and 10.27 million shares traded.
Rupiah Performance and Regional Outlook
The Indonesian Rupiah also faced downward pressure, closing the afternoon at Rp17,370 per US dollar. This represents a slight weakening compared to the morning opening price of Rp17,357, marking a correction of 13 points or approximately 0.075%.
The bearish sentiment was not isolated to Indonesia, as major Asian stock markets also trended downward. According to data from Stockbit and Yahoo Finance, the Nikkei 225 in Japan dipped 0.19% to 62,713.65, while the Hang Seng in Hong Kong fell 0.88% to 26,393.71. Meanwhile, the SSE Composite in China remained flat at 4,179.95, and the Straits Times index in Singapore edged down 0.30% to 4,927.35.
Summary
The Indonesia Composite Index (IHSG) sharply declined by 2.853% or 204.93 points, closing at 6,969.396 on Friday, May 8. This bearish sentiment also impacted the LQ45 index, which dropped 2.394%. Total market transactions reached Rp35.81 trillion with 55.77 billion shares traded. The Indonesian Rupiah also weakened slightly to Rp17,370 per US dollar, mirroring a downward trend in other major Asian stock markets.
Despite the broad market downturn, certain stocks like MPOW and MEDS posted significant gains, while ELPI and ESIP led the list of top losers. Investor activity concentrated on major financial and commodity stocks, with Bank Mandiri (BMRI) leading in transaction value. GoTo Gojek Tokopedia (GOTO) recorded the highest transaction volume, indicating focused investor interest in specific counters.