Bisnis-27 Index Opens Strongly, BUMI, MEDC, and ADRO Shares Advance

The Bisnis-27 Index opened higher on trading today, Monday (6/4/2026). Several shares such as BUMI, MEDC, and ADRO were recorded strengthening in the morning session. Citing data from the Indonesia Stock Exchange (BEI), the index, a collaboration between BEI and Harian Bisnis Indonesia, opened up 0.20% to 482.71. Of the 27 constituents, 12 shares strengthened, 11 weakened, and 4 were stagnant. The share price gains were led by PT Bumi Resources Tbk. (BUMI), which rose 2.63% to Rp234, followed by shares of PT Medco Energi Internasional Tbk. (MEDC) up 1.87% to Rp1,635, and shares of PT Adaro Energy Indonesia Tbk. (ADRO) up 1.60% to Rp2,540. In addition, shares of PT Bukit Asam (Persero) Tbk. (PTBA) also rose 1.37% to Rp2,950, followed by shares of PT Telkom Indonesia (Persero) Tbk. (TLKM) up 0.64% to Rp3,150, and shares of PT Dharma Satya Nusantara Tbk. (DSNG) strengthening 0.60% to Rp1,680. Several major banks were also recorded strengthening in trading today, with PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) up 0.90% to Rp3,350, shares of PT Bank Mandiri (Persero) Tbk. (BMRI) strengthening 0.65% to Rp4,680, PT Bank Central Asia Tbk. (BBCA) strengthening 0.38% to Rp6,600, and PT Bank Negara Indonesia (Persero) Tbk. (BBNI) strengthening 0.27% to Rp3,710. Meanwhile, several shares that were stagnant at the market open include PT Astra International Tbk. (ASII), PT Vale Indonesia Tbk. (INCO), PT Kalbe Farma Tbk. (KLBF), and PT Mitra Keluarga Karyasehat Tbk. (MIKA). On the other hand, several shares that moved lower include PT Barito Pacific Tbk. (BRPT) which weakened 5.08% to Rp1,215, PT Mitra Adiperkasa Tbk. (MAPI) weakened 2.68% to Rp1,270, and PT Sumber Alfaria Trijaya Tbk. (AMRT) weakened 2.08% to Rp1,410. The same was experienced by PT Aneka Tambang Tbk. (ANTM) which was sluggish 1.10% to Rp3,600, PT Mayora Indah Tbk. (MYOR) weakened 1.07% to Rp1,845, PT Indah Kiat Pulp & Papers Tbk. (INKP) weakened 0.52% to Rp9,575, and PT Pertamina Geothermal Energy Tbk. (PGEO) weakened 0.49% to Rp1,015. Previously, the JCI was projected to potentially test the 7,150–7,200 area in the week of 6–10 April 2026, but selling pressure still looms amid dominance of global sentiment and foreign fund outflows. Analysts from BRI Danareksa Sekuritas, Reza Diofanda, Chory Agung, and Abida Massi Armand, noted that the JCI in the week of 30 March–2 April 2026 closed down 1.59% to 7,026 with net foreign sell reaching Rp4.77 trillion. That pressure was triggered by rising geopolitical tensions in Iran, prompting market participants to adopt a risk-off stance, plus domestic issues related to shares with concentrated ownership that have also become investor attention lately. In the technical projection, BRI Danareksa Sekuritas sees the potential for a JCI rebound still open as long as the index can hold above the 6,950 support level. “The JCI has the potential to experience a rebound as long as it can still hold in the 6,950 support area, with current conditions showing consolidation and weakening bearish momentum, thus opening opportunities for an increase to 7,150–7,200,” the research team wrote. Nevertheless, the risk of further decline still needs to be wary of. The JCI is still considered to be in a descending triangle pattern reflecting dominant selling pressure. “The JCI currently shows potential bearish continuation with a descending triangle pattern, where selling pressure is still dominant as seen from lower highs and MACD weakening again,” the analyst said. A negative scenario could be confirmed if the JCI falls back below the 6,950 level, which could open room for deeper weakening. In addition to technical factors, external pressures are also seen to contribute. One of them is the strengthening of the US dollar amid escalating global conflicts that pressure the rupiah and could push the JCI to move below 7,000 if accompanied by massive foreign selling actions. “According to analysts, rupiah weakening could continue to touch Rp17,500 in 2026 if the conflict does not subside. This condition also impacts the stock market, where the JCI could move below 7,000 with massive net foreign sell pressure,” he said. Meanwhile, from domestically, the market will focus on the realisation of 8 national savings policies by the government as a response to global pressures. These policies are predicted to produce significant savings, with Rp6.2 trillion from ASN WFH and Rp130 trillion from budget efficiency. On one side, actions by the Indonesia Stock Exchange (BEI) which has completed four agendas to strengthen capital market transparency are also seen to provide positive sentiment in the long term for the market. However, in the short term, sentiment tends to be mixed because the market will still focus on the Iran war. The four capital market transparency agendas carried out by OJK and SRO include the provision of share ownership data above 1%, implementation of High Shareholding Concentration (HSC) announcements, strengthening of investor classification granularity in KSEI share ownership data to a total of 39 classifications and investor types, and an increase in the minimum free float limit to 15%. “In the long term, this step is a positive transformation because it increases standards, transparency, and investability of the Indonesian market, thus opening opportunities for increased foreign fund flows and the deadline already given by global indices in May 2026,” he said. On one side, the market is forecasted to have concerns about shares with high ownership concentration or limited free float, which are also at risk of being affected if they do not meet MSCI criteria.