Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Volume 5 No 3 (2023) 1405-1422 P-ISSN 2656-2871 E-ISSN 2656-4351 DOI: 10.47467/alkharaj.v5i3.1889 1405 | Volume 5 Nomor 3 2023 Dampak Pandemi Covid-19, Kurs dan Inflasi terhadap Pasar Modal Syariah: Studi Kasus Indeks Saham Komposit JII, JII70 dan ISSI Eka Safitri 1 , Dedi Junaedi 2 , Evi Novita 3 , Rika Sri Amalia 4 , M. Rizal Arsyad 5 1,2,3 IAI Nasional Laa Roiba Bogor 4,5 Universitas Gunadarma Depok dedijunaedi@laaroiba.ac.id ABSTRACT The objectives of this study are: (1) To find out whether the Covid-19 pandemic, exchange rate and inflation have a partial effect on the movement of JII stock indexes. (2) To find out whether the Covid-19 pandemic, exchange rate and inflation have a partial effect on the movement of JII70 stock indexes. . (3) To find out whether the Covid-19 pandemic, exchange rate and inflation have a partial effect on the movement of ISSI stock indexes. As for the research conducted using quantitative methods. Data collection techniques are carried out by observation, documentation, literature study. Data analysis techniques use classical assumption tests including normality tests, multicolenearity tests, autocorrelation tests, heterochedasticity tests and hypothesis tests including partial tests (t tests), coefficient of determination (R) tests, F tests. . The results showed that simultaneously covid-19 cases, exchange rates, and inflation had a significant effect on the JII, JII70, and ISSI stock indices. . Partially, the exchange rate has a significant effect on the JII and JII70 stock indices are negatively correlated. Meanwhile, covid cases and inflation have an insignificant effect despite the trend. Meanwhile, partially covid cases, exchange rates and inflation have a significant effect on the ISSI Sharia stock index. Keywords : Covid-19 cases, exchange rates, inflation, and composite stock indices (JII, JII70, and ISSI) ABSTRAK Tujuan penelitian ini adalah: (1) Untuk mengetahui apakah pandemi Covid-19, kurs dan inflasi berpengaruh secara parsial terhadap pergerakan indek saham JII. (2) Untuk mengetahui apakah pandemi Covid-19, kurs dan inflasi berpengaruh secara parsial terhadap pergerakan indek saham JII70. (3) Untuk mengetahui apakah pandemi Covid-19, kurs dan inflasi berpengaruh secara parsial terhadap pergerakan indek saham ISSI. Adapun penelitian yang dilakukan menggunakan metode kuantitatif. Teknik pengumpulan data dilakukan dengan observasi, dokumentasi, studi pustaka. Teknik analisis data mengunakan uji asumsi klasik diantaranya uji normalitas, uji multikolenearitas, uji autokorelasi, uji heterokedastisitas dan uji hipotesis diantaranya uji parsial (uji t), uji koefisien determinasi (R), uji F. Hasil penelitian menunjukkan bahwa secara simultan kasus covid-19, kurs, dan inflasi berpengaruh signifikan terhadap indeks saham JII, JII70, dan ISSI. Secara parsial kurs berpengaruh signifikan terhadap indeks saham JII dan JII70 berkorelasi negatif. Sementara kasus covid dan inflasi berpengaruh tidak signifikan meskipun terdapat kecenderungan. Sedangkan secara parsial kasus covid, kurs dan inflasi berpengaruh signifikan terhadap indeks saham syariah ISSI. Kata kunci: Kasus Covid-19, Kurs, Inflasi, dan Indeks Saham Komposit (JII, JII70, dan ISSI)