Analysis of Blue-Chip Stock Price Movement Before and During the Pandemic Covid-19
DOI:
https://doi.org/10.5555/ijosmas.v3i1.98Keywords:
Covid-19, blue chip, stock.Abstract
This study analyzes the impact of Covid-19 on the movement of Blue-Chip stock prices in Indonesia. This study uses daily data on stock price movements of 8 companies that are included in the Blue-Chip category on the IDX from September 2019 to September 2020 which represent 3 sectors, namely finance, manufacturing, and telecommunications. The data analysis technique in this research is using dummy variables in stationary autoregressions. The results of the analysis show that the company which has been severely affected by COVID-19 is the Gudang Garam company (GGRM). Meanwhile, the stock price of Unilever (UNVR) was not affected by Covid-19. In addition, the regression results also show that Covid-19 has a positive effect on Mayora's stock price (MYR). During the 6 months, Covid-19 was proven to be able to increase Mayora's stock price even it was small. This study proves that stock price movements in food and telecommunications manufacturers can survive during economic fluctuations due to the pandemic. This is because both provide basic daily needs. Meanwhile, the financial sector and companies which produce additional needs, such as cigarettes, were severely affected by the COVID-19 pandemic.
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