IHSG Accelerates, Marking Nine Consecutive Trading Days in the Green

The Indonesian Stock Exchange (IDX) Composite Index (IHSG) surged 1.74% to close at 6,340.02 on Tuesday (21/7/2026). A total of 421 stocks advanced, 205 remained stagnant, and only 169 declined.

Trading volume reached 51.06 billion shares, with a transaction value of IDR 21.50 trillion across 2.94 million trades. The IHSG’s rally coincided with the House of Representatives’ (DPR) passing of the Indonesia International Financial Centre (PFII) Bill.

The index has been on a remarkable run, recording gains in 14 of the last 15 trading days. Since its last decline on 8 July 2026, the IHSG has climbed 7.93%, bringing its month-to-date (MtD) increase for July to 12.35%.

According to Refinitiv data, the utilities sector led the gains, soaring 4.68%, followed by property at 3.97%, basic materials at 3.53%, and energy at 2.95%. The healthcare sector was the only one to close in negative territory.

The main drivers of the index’s performance were Amman Mineral Internasional (AMMN), contributing 11.82 index points, Bank Rakyat Indonesia (BBRI) with 7.31 points, and Dian Swastatika Sentosa (DSSA) with 10.74 points.

Market participants are focusing on several domestic and external sentiments. Domestically, attention is on the commencement of Bank Indonesia’s Board of Governors Meeting, which will determine the direction of interest rate policy, and the planned passing of the Indonesia International Financial Centre Bill. The market also noted a statement from the Financial Services Authority (OJK) confirming that the national banking sector remains solid, with credit growth reaching 11.5% year-on-year.

Externally, investors remain cautious due to escalating conflict in the Middle East after the Houthi group announced a maritime blockade against Saudi Arabia. These tensions have reignited concerns over global energy supplies and pushed oil prices higher. Meanwhile, China’s central bank maintained its Loan Prime Rate (LPR), while the US dollar index and US Treasury yields strengthened, a move that could potentially pressure capital flows into emerging markets, including Indonesia.