<span lang="IN">In March 2020, Corona Virus Disease (COVID-19) was officially declared a pandemic, leading to significant disruptions in the economic and financial sectors, particularly in business activities requiring direct human interaction due to physical distancing policies. While several studies have examined the pandemic’s impact on the broader economic and financial sectors, few have specifically addressed its effects on the service industry in Indonesia. This study aimed to analyze the impact of COVID-19 on abnormal returns and abnormal volume of stocks within Indonesia’s service industry. Employing the event study methodology, three business sectors most affected by COVID-19 were investigated. Additionally, influence of company’s internal factor on cumulative abnormal returns was also examined using the robust least square regression method. This study finds a negative stock market reaction to the pandemic declaration and social distancing measures, contrasted with a positive reaction to announcement regarding the national economic recovery program and the reopening of economic activities under health protocols. Notably, all events had a negative impact on the abnormal volume of the stocks. Finally, both company size and liquidity were significant drivers of cumulative abnormal returns. This study was focus on the year of 2020, when major events related to COVID-19 occured. Future research could incorporate pandemic’s revocation announcement to provide complete economic picture following the initial event windows.</span>