IHSG Closes Higher Despite FTSE Rebalancing as Major Banks Halt Correction

JAKARTA - The Jakarta Composite Index (IHSG) closed higher on Monday, 25 May 2026, despite negative sentiment from FTSE Russell’s rebalancing, which removed several Indonesian shares from its global indices.

According to data from the Indonesia Stock Exchange (BEI), the IHSG rose 0.72% to 6,206.349. The index’s gains were primarily driven by big-cap banking stocks, which have a dominant weight in the index’s movement.

Mirae Asset Sekuritas Indonesia Senior Market Analyst Nafan Aji Gusta said the impact of this FTSE rebalancing was relatively limited because the removed stocks did not significantly influence the main domestic market index.

He added that super big-cap stocks such as PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Central Asia Tbk (BBCA), PT Bank Mandiri Tbk (BMRI), and PT Telkom Indonesia Tbk (TLKM) remained the key drivers of the IHSG.

“While DSSA has a substantial market capitalisation, its weight on the IHSG’s daily movement is not as significant as super big-cap stocks like BBRI, BBCA, BMRI, or TLKM,” Nafan said on Monday, 25 May 2026.

Pressure on DSSA emerged after FTSE Russell announced its removal from the FTSE Global Equity Index Series (GEIS) large-cap category due to high shareholding concentration (HSC).

However, DSSA’s weakness did not drag the IHSG into negative territory as the market received support from gains in major banking stocks.

BBRI shares closed up 3.93% at Rp 3,170, while BBCA rose 3.39% to Rp 6,100 and BMRI climbed 2.43% to Rp 4,220. TLKM also contributed to the index with a 0.34% increase to Rp 2,930.