This article analyzes the movement of the Composite Stock Price Index (IHSG) in Indonesia during the Implementation of Restrictions on Community Activities (PPKM) in 2021. PPKM is a government regulation to deal with the Covid-19 pandemic. Before the implementation of PPKM, the government had implemented large-scale social restrictions implemented in several regions in Indonesia. The policy implemented by the government is considered to have an impact on the decline in people's purchasing power, which has just shown recovery and has an impact on several sectors of the stock market in Indonesia. It is necessary to analyze to determine the effect of implementing community activities on the joint-stock price index in 2021. This study uses an exploratory descriptive type of research. Observations were made by analyzing the composite stock price index (IHSG). Based on the results of the discussion that has been analyzed, it can be concluded that during the implementation of restrictions on community activities (PPKM) the IHSG value tends to experience a difference every month but shows a positive trend which closed at the level of 6,600.68, which was an increase of 10.4 percent compared to the 2020 closing position. which is at 5,979.07.

This article analyzes the impact of stock price efficiency on the Covid-19 event in 2020. As a capital market tool, shares are interpreted as evidence that a person has equity participation in a company or limited liability company. The emergence of the impact of Covid-19 on the price index is detrimental to the country's economy. State-Owned Enterprises (BUMN), which are the drivers of economic growth, has also been affected by the Covid-19 pandemic. This analysis needs to be carried out to find out the impact of Covid-19 on the stock price of IDX BUMN20 regarding the effects before and before the outbreak of the Covid-19 virus in Indonesia in 2020. The research method used is exploratory descriptive with a quantitative approach and the data collected is descriptive. Secondary data from the IDX and the Central Statistics Agency regarding the condition of economic growth and the SOE stock price index in 2020. Based on the results obtained, the first conclusion is that Indonesia's economic growth from 2019 was 5.02% and in 2020 was 2.07%, so that economic growth decreased from 2019 to 2020 by 2.95. Furthermore, the IDX BUMN20 stock index also fell to 18.39% throughout 2020.