IHSG Extends Rally, Opens Higher by 0.41% Approaching 6,400 Level
Jakarta, CNBC Indonesia – The Composite Stock Price Index (IHSG) opened higher in trading on Wednesday (22/7/2026), extending a rally that has now lasted ten consecutive trading days.
According to Indonesia Stock Exchange (IDX) data as of around 09.00 WIB, the IHSG rose 0.41% or 26 points to 6,366.01.
At the opening of trade, transaction value was recorded at around Rp162.17 billion, with trading volume reaching 333.51 million shares changing hands 39,297 times. A total of 259 shares rose, 41 declined, while 330 shares were unchanged.
Entering the third trading day of the week, Indonesia’s financial market is in positive territory amid strengthening momentum in the IHSG and the rupiah.
Even while in positive territory, market participants will still be monitoring a number of important sentiments from home and abroad.
Starting with Bank Indonesia’s interest rate decision, to be announced this afternoon, as well as external data, namely UK unemployment figures and Japan’s trade balance.
The IHSG’s movement is showing fairly solid upward momentum. This was visible in yesterday’s close, where the index rose 1.74% to break above the 6,300 level. The gain also marked nine consecutive days of gains for the IHSG.
The last time the IHSG managed nine consecutive days of gains was in July 2025. At that time, the rally even continued for 11 consecutive trading days.
In addition to nine straight days of gains, the IHSG has also risen in 14 of the last 15 trading days. Since the beginning of July 2026, the index has closed lower only once, on 8 July 2026.
Since its last decline on 8 July, the IHSG has gained 7.93%. Meanwhile, so far this month (month-to-date), the index has surged 12.35%.
This latest rally is also being accompanied by incoming foreign funds. Based on Indonesia Stock Exchange data, foreign investors recorded a net buy of Rp1.99 trillion between 16 July and 21 July 2026.
Foreign buying was evident from 16 July, when foreign investors booked a net buy of Rp1.22 trillion. They then continued buying, with Rp638.05 billion on 17 July, Rp96.72 billion on 20 July, and Rp31.36 billion on 21 July.
Daily transaction values are also picking up. In the last three trading days, IHSG transactions have consistently exceeded Rp15 trillion per day.
This follows the index recording its smallest daily transaction value of 2026 in the trading session of 10 July.
The entry of foreign funds and rising transaction values make this rally in the IHSG appear healthier, and we hope it can maintain its upward momentum.
Meanwhile, Bank Indonesia will announce the results of its July Board of Governors Meeting this afternoon. The meeting took place on Tuesday and Wednesday (21-22 July 2026).
Based on a CNBC Indonesia poll of 14 institutions, the majority of respondents expect the BI Rate to rise again.
Eight respondents project the BI Rate to increase by 25 basis points (bps), from 5.75% to 6.00%. The remaining six respondents expect the rate to be held at 5.75%.
If the majority forecast proves accurate, this month’s increase would be BI’s fourth tightening of 2026. Previously, the central bank raised rates by a cumulative 100 bps from May onwards, reaching 5.75% in June.
Pressure on the rupiah is one of the main reasons why the majority of economists expect BI to continue raising interest rates.