Bisnis-27 Index Closes Lower, but ADRO, ICBP, JPFA Shares Remain Resilient
The Bisnis-27 index closed lower in trading on Monday (29/6/2026), falling 1.75% to 397.41. Of the 27 constituents, six stocks advanced, 19 declined, and two were unchanged.
Leading the gainers was PT Alamtri Resources Indonesia Tbk. (ADRO), which rose 1.33% to Rp2,280, followed by PT Japfa Comfeed Indonesia Tbk. (JPFA) up 0.76% to Rp1,980, PT Indofood CBP Sukses Makmur Tbk. (ICBP) up 0.76% to Rp6,650, and PT Darma Henwa Tbk. (DEWA) up 0.65% to Rp308. PT Bumi Resources Minerals Tbk. (BRMS) also gained 0.40% to Rp500, while PT Aneka Tambang (Persero) Tbk. (ANTM) strengthened 0.37% to Rp2,720.
On the losing side, PT Perusahaan Gas Negara (Persero) Tbk. (PGAS) dropped 6.25% to Rp1,425, PT Bank Central Asia Tbk. (BBCA) fell 4.05% to Rp5,925, PT Telkom Indonesia (Persero) Tbk. (TLKM) declined 2.82% to Rp2,410, and PT Sumber Alfaria Trijaya Tbk. (AMRT) slipped 2.74% to Rp1,420. Other decliners included PT AKR Corporindo Tbk. (AKRA), down 2.36% to Rp1,240, PT Triputra Agro Persada Tbk. (TAPG), down 1.98% to Rp1,485, PT Charoen Pokphand Indonesia Tbk. (CPIN), down 1.90% to Rp3,100, and PT Medco Energi Internasional Tbk. (MEDC), down 1.89% to Rp1,040.
Equity Analyst at PT Indo Premier Sekuritas (IPOT), Brigita Kinari, predicted the IHSG would remain in a medium-term downtrend this week despite a recent rebound from a low of 5,318 to 6,377. She noted that technically, no break of structure above the previous swing high has formed, and the index remains below its 5-day, 10-day, and 20-day moving averages. A weakening positive MACD histogram and Stochastic RSI moving into pivot territory suggest limited upward momentum, with the index likely to test support at 5,700–5,800 this week.
As long as this support holds, the index is expected to consolidate within a range of 5,500–6,400. A bullish trend reversal would only be confirmed if the IHSG closes a weekly trade above 6,452, meaning any prior gains would be classified as a relief rally.
Regarding market sentiment, Kinari observed that investors remain in wait-and-see mode amid competing signals. Attention is focused on key first-half macroeconomic data, including inflation, trade balance, consumer confidence, and the upcoming Bank Indonesia benchmark rate decision in mid-July. Meanwhile, the government has begun rolling out an economic stimulus package worth Rp26.34 trillion through eight incentive programmes aimed at preserving purchasing power and boosting growth in the second half of 2026. The government is also strengthening fiscal consolidation through budget efficiency, including plans to reduce the allocation for the Free Nutritious Meals (MBG) programme, energy subsidy savings, and various policy reform measures expected to improve the country’s fiscal perception. Kinari concluded that market participants will continue to monitor the effectiveness of these policies and await further assessments from credit rating agencies, with foreign capital flows remaining the primary factor determining domestic market direction.