IHSG Cuts Losses, Closes Down 0.55%

The Jakarta Composite Index (IHSG) managed to trim its losses by the close of trading on Wednesday (17/6/2026). After falling as much as 1% earlier in the session, the index ended the day down 0.55%, shedding 34.23 points to settle at 6,220.74. A total of 409 stocks declined, 306 advanced, and 244 remained unchanged. Trading volume reached 31.21 billion shares, with a total transaction value of Rp 24.33 trillion, and market capitalisation stood at Rp 10,780 trillion. According to Refinitiv, the utilities sector suffered the steepest decline, plunging 8.82%, driven by a sharp correction in Barito Renewables Energy (BREN). The Prajogo Pangestu-owned company’s shares fell 12%, dragging the IHSG down by 18.81 points. However, the index’s losses were cushioned by a late-session surge in Bank Rakyat Indonesia (BBRI), which rose 3% and contributed 14.11 positive points to the benchmark. On the domestic front, the market’s recovery was supported by high-level institutional coordination. Following a meeting on Monday (15/6/2026) involving key stakeholders, including leaders of state-owned banks (Himbara) and the Indonesia Investment Authority (INA), the government signalled strong readiness to safeguard domestic financial market stability. This proactive stance has fostered a bullish response from investors since last week. Externally, global sentiment was lifted by progress in peace initiatives spearheaded by Donald Trump, which have helped ease geopolitical tensions and supported a recovery in global equity markets. The IHSG had already surged 17.09% over the five trading days leading up to Monday’s close, rebounding from its lowest level on 8 June 2026. For the rally to be technically validated as a medium-term bullish phase, the index must reclaim and close the week above the 6,452.78 level.