Analysts Project Bullish Capital Market Following a Single-Round Election

Market participants believe that a single-round election would be a tailwind for the IDX Composite, especially coupled with easing of central bank policies.

Editorial Team

22 Feb 2024 - 16.07
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Analysts Project Bullish Capital Market Following a Single-Round Election

Bisnis, JAKARTA — The likelihood of the 2024 presidential election concluding in a single round provides a basis of certainty for the market to determine its response to the elected head of state.

On the other hand, a week after the casting of votes, the IDX Composite appears to be fluctuating, albeit showing a tendency to strengthen.

On, Wednesday (2/21/2024), exactly a week after voting day, the index recorded a slight decrease of 0.05 percent to 7,349.02, after dipping as low as 7,286.67 prior to closing.

As of Wednesday’s close, the index has increased by 1.93 percent compared to its position before the election. However, in the past week, the IDX Composite has not been consistently in the green, having closed with a gain in three days but turned red on two other days.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.