JAKARTA - The movement of the Composite Stock Price Index (IHSG) crept up from the early trading session until midday at 12.00 WIB. The momentum for strengthening this Index coincides with the provision of ministerial and deputy ministerial candidates Prabowo Subianto, President-elect in the 2024 presidential election in Hambalang, Bogor.

In the morning, the JCI rate was at 7,716.32 at 11.30 WIB, strengthening since the start of the session at 09.00 WIB at the level of 7,665.00. The increase in the index is in line with the price increase for a number of issuers with large market capitalization (marketcap), for example, PT Barito Renewables Energy Tbk (BREN), PT Chandra Asri Pacific Tbk (TPIA), and PT Bank Central Asia Tbk (BBCA).

The strengthening trend in the JCI this morning is suspected by the market's response to a number of names who will occupy ministerial positions, especially in the fields of economy and investment. Apart from that, the market is also responding to the political situation ahead of Prabowo Subianto's inauguration, on Sunday (20/10).

A number of other indices also showed positive trends until midday. LQ45 at level 957,882, up 0.91%, IDX30 rose 1.03% at level 491,516, IDX80 at level 136,722 rose 0.83%, and IDXESGL at level 168,636, grew 0.63%. (LK/LM)