CUAN and WIFI Enter LQ45: Analyst Reveals the Secret

JAKARTA, KOMPAS.com - A surge in transaction values has propelled the shares of PT Petrindo Jaya Kreasi Tbk (CUAN) and PT Solusi Sinergi Digital Tbk (WIFI) into the LQ45 index.

The LQ45 index is the primary index on the Indonesia Stock Exchange (BEI). This index comprises 45 shares with high liquidity, large market capitalisation, and strong fundamentals.

Investment Specialist at PT Korea Investment and Sekuritas Indonesia (KISI), Ahmad Faris Mu’tashim, assesses that the entry of WIFI and CUAN was triggered by an increase in trading liquidity.

“The inclusion of WIFI and CUAN in the LQ45 is certainly based on the current liquidity, which has risen compared to the previous rebalancing,” Faris told Kompas.com on Sunday (26/4/2026).

“For example, WIFI’s average liquidity based on the specified methodology is Rp 67.5 trillion, and CUAN’s is Rp 93 trillion,” he explained.

The selection process begins with around 150 shares with the largest transaction values. This list is then narrowed down to 80 shares in the IDX80 index.

From that group, the 45 best shares are selected for the LQ45. It is then further refined to 30 top shares in the IDX30.

“This is determined based on a universe of 150 shares with the largest transactions, then curated to 80 for the IDX80 constituents, followed by 45 for the LQ45, and further curated to 30 for the IDX30,” said Faris.

The entry of CUAN and WIFI reflects a shift in the market’s sectoral direction. Faris observes that the market remains anchored in the commodities sector.

“This illustrates the sectoral business direction for the next one to two years, as using a macro approach, the inclusion of new shares is not far from the commodities sector,” he added.