A Hair's Breadth from 6,000: Who Is Lifting the IHSG?
Jakarta, CNBC Indonesia — The Jakarta Composite Index (IHSG) soared again in trading on Friday (12/6/2026), extending a sharp rally that has been underway in recent days. As of 09:10 WIB, the IHSG had strengthened by 92.72 points, or 1.58%, to a level of 5,978.76, having briefly touched an intraday high of 5,994.98.
Today’s gains were driven by a combination of technical sentiment and buying flows into large-capitalisation stocks, particularly in the banking and telecommunications sectors.
Based on Refinitiv data, shares of PT Bank Central Asia Tbk. (BBCA) were the largest contributor to the index’s rise, adding 11.7 points. It was followed by PT Telkom Indonesia (Persero) Tbk. (TLKM) with 4.17 points, PT Bank Mandiri (Persero) Tbk. (BMRI) with 3.91 points, PT Bumi Resources Minerals Tbk. (BRMS) with 3 points, and PT Indofood Sukses Makmur Tbk. (INDF) with 2.85 points.
Additional support came from PT Dian Swastatika Sentosa Tbk. (DSSA), PT Barito Pacific Tbk. (BRPT), PT Astra International Tbk. (ASII), PT Bank Negara Indonesia (Persero) Tbk. (BBNI), and PT Barito Renewables Energy Tbk. (BREN).
On the other hand, pressure on the IHSG was relatively limited. Shares of PT Medikaloka Hermina Tbk. (HEAL) were the biggest drag, with a negative contribution of 0.46 points, followed by PT Bukit Asam Tbk. (PTBA), PT J Resources Asia Pasifik Tbk. (PSAB), PT Apollo Global Interactive Tbk. (BOGA), and PT Citra Marga Nusaphala Persada Tbk. (CMNP).
From a technical perspective, today’s strengthening reinforces the IHSG’s attempt to emerge from the pressure phase that has occurred since the beginning of the year. On the daily chart, the index managed to hold above the 5,950 area, which now serves as short-term support, while also moving above the 20-day moving average.
Furthermore, market participants continue to respond positively to various government and regulatory measures aimed at maintaining financial market stability. Exchange rate stability typically acts as a positive catalyst for large banking stocks, as it reduces market concerns over external volatility and foreign capital flows.
Although the rise appears impressive, technically the IHSG remains far below its peak in early 2026, which briefly touched the 9,100 area. With its current position around 5,980, the index is still recording a fairly deep correction on a year-to-date basis.
Nevertheless, several signals warrant attention: large-cap stocks are once again the market’s driving force, major bank stocks are leading the index gains, the majority of shares are in positive territory, and transaction values are relatively large.