Bank Shares Rally as Foreign Investors Pile In, Lifting IHSG

Jakarta, CNBC Indonesia - Banking stocks soared in trading on Friday (17/7/2026), becoming the main engine that propelled the Jakarta Composite Index (IHSG) towards the 6,200 level. The strengthening was not limited to large banks but was also evenly spread to second-tier banks.

Based on Indonesia Stock Exchange data up to 15:30 Western Indonesia Time, banking shares were uniformly in the green. In fact, the majority of them surged by more than 3%.

PT Bank Syariah Indonesia Tbk. (BRIS) was the champion with the sharpest jump, rising 8.91% or 155 points to Rp1,895 per share. It was followed by PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI), which leapt 4.55% to Rp2,990 per share.

Next were PT Bank Central Asia Tbk. (BBCA), which soared 4.42% to Rp6,500 per share, and PT Bank Tabungan Negara (Persero) Tbk. (BBTN), which rose 4.13% to Rp1,260 per share.

Other major banks were not left behind. PT Bank Mandiri (Persero) Tbk. (BMRI) strengthened 3.71% to Rp4,470 per share, while PT Bank Negara Indonesia (Persero) Tbk. (BBNI) rose 3.14% to Rp3,610 per share.

From the private and second-tier bank groups, PT Bank Pan Indonesia Tbk. (PNBN) rose 3.37% to Rp920 per share, PT Bank Permata Tbk. (BNLI) strengthened 2.14% to Rp2,390 per share, and PT Bank CIMB Niaga Tbk. (BNGA) rose 1.89% to Rp1,615 per share. Meanwhile, PT Bank Danamon Indonesia Tbk. (BDMN) and PT Bank Maybank Indonesia Tbk. (BNII) rose 1.18% and 1.06% respectively.

This bank stock rally was the main fuel for the IHSG. The index was recorded jumping 1.32% or 80 points to 6,188.33, continuing its rally after opening in the red this morning. Throughout the trading session, the IHSG moved in the range of 6,079.32-6,188.33.

A total of 329 stocks strengthened, 266 weakened, and 187 others were stagnant. The transaction value was recorded at Rp9.72 trillion, involving 19.72 billion shares in 1.48 million transactions.

Citing Refinitiv, the financial and energy sectors were the two sectors that most lifted the index, while many other sectors were held back in the red. Four major banks - BBCA, BBRI, BMRI, and BBNI - contributed more than 50 points to the IHSG’s rise.

Interestingly, major bank stocks were sluggish at the start of trading and dragged the index into negative territory. However, shortly after the market opened, these bank stocks gained market appreciation and reversed course to soar.

Foreign fund flows also provided support. Based on data from Stockbit Sekuritas, in today’s first session, foreign investors bought up BBCA worth Rp367.30 billion, BMRI worth Rp198.05 billion, and BBRI worth Rp163.21 billion. These three occupied the top positions on the net foreign buy list across the entire market.

Net Foreign Buy Session I:

PT Bank Central Asia Tbk. (BBCA) - Rp367.30 billion

PT Bank Mandiri (Persero) Tbk. (BMRI) - Rp198.05 billion

PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) - Rp163.21 billion

PT Telkom Indonesia (Persero) Tbk. (TLKM) - Rp89.20 billion

PT Bank Syariah Indonesia Tbk. (BRIS) - Rp14.34 billion

PT Bank Tabungan Negara (Persero) Tbk. (BBTN) - Rp4.79 billion

PT Indofood CBP Sukses Makmur Tbk. (ICBP) - Rp3.38 billion

PT Gudang Garam Tbk. (GGRM) - Rp3.17 billion

PT Saratoga Investama Sedaya Tbk. (SRTG) - Rp2.09 billion

PT Bersama Mencapai Puncak Tbk. (BAIK) - Rp2.09 billion

On the other hand, PT DCI Indonesia Tbk. (DCII) remained a drag on the index’s pace. The issuer owned by Toto Sugiri fell 3.94% with a transaction volume of only 1 lot, and burdened the IHSG by up to 7.94 points.

As for sentiment, market participants are digesting the release of a series of crucial macroeconomic data published on Thursday. From the United States, labour market data and retail consumption figures confirmed the resilience of the world’s largest economy.

Domestically, positive sentiment came from the realisation of investment in the first half of 2026, which reached a record Rp1,010.6 trillion, growing 7.2% year-on-year, as well as the inauguration of the giant Abadi Field Masela Block gas project in the Tanimbar Islands, Maluku, by President Prabowo Subianto on Thursday (16/7/2026).