Uji Komparasi Pergerakan Indeks Saham Syariah Indonesia (ISSI) Dan Jakarta Islamic Index (JII) Pada Masa Pra Vaksinasi Dan Pasca Vaksinasi Covid-19 Di Indonesia

Abstract

: The purpose of this study is to compare the Indonesian Sharia Stock Index (ISSI) and the Jakarta Islamic Index (JII) which experienced significant stock price movements, which can be compared in two periods, namely pre-vaccination and post-covid-19 vaccination in Indonesia. the method used in this research is quantitative research. The population in this study were all companies/issuers listed on the Indonesian Sharia Stock Index (ISSI) and the Jakarta Islamic Index (JII) in the pre-vaccination period (March – December 2020) and post-vaccination (January – October 2021) with a total of 435 companies ( issuer data as of November 1, 2021) for the ISSI stock index, 30 companies for the JII stock index. The data analysis method in this study uses the SPSS version 23.00 application, which begins with descriptive statistical testing, data normality tests using skewness, and hypothesis testing in the form of paired sample t-test. The results showed that there were significant differences in the movement of the ISSI and JII stock indices in the period before and after the Covid-19 vaccination period in Indonesia. This is because the period before the Covid-19 vaccination is considered to be the period that shows the lowest movement in the sharia stock index due to panic by investors due to the Covid-19 pandemic. Most investors start selling a lot of their shares in the pre-vaccination period and this causes the Islamic stock price on the IDX to decline. However, in the post-vaccination period or the Covid-19 vaccination program began to be promoted in Indonesia, the movement of the sharia stock index began to increase due to investor panic due to Covid-19 which began to decrease.