JCI Closes 1.19% Higher Today: Here's Why

The Indonesia Stock Exchange (IHSG) rose by 70.43 points or 1.19% to the level of 5,986.5 in today’s trading, Tuesday (7/7/2026).

Today’s movement of the IHSG was supported by the majority of stocks. A total of 450 issuers were in the green zone, while only 222 ended in the red, and the remaining 289 remained stagnant.

Nevertheless, trading volume and transactions remained relatively quiet. The transaction value only reached Rp 10.37 trillion, involving 21.28 billion shares across 1.66 million transactions.

Meanwhile, market capitalisation began to move away from the Rp 10,000 trillion mark, specifically reaching Rp 10.466 trillion.

Quoting Refinitiv, the IHSG strengthening was led by almost all sectors. Property surged by 2.49%, followed by financials at 1.84%, basic materials at 1.1%, non-primary consumer goods at 1.07%, and primary consumer goods at 1.06%. It was noted that only utilities experienced pressure, with a correction of 0.2%.

Furthermore, three major banks led the IHSG’s gains today. BBCA, BBRI, and BBNI contributed 15.48 points, 10.24 points, and 6.28 points, respectively. Additionally, ASII, AMMN, BRPT, and CPIN also appeared on the list of top movers.

On the other hand, the weights dragging down the IHSG today were relatively limited, coming from BRMS (-2.24 points), INDF (-2.19 points), ICBP (-1.05 points), and DEWA (-0.37 points).

The IHSG has begun to rebound from lower levels, but it is not yet strong enough to be considered a true recovery. While the increase from the June lows indicates that selling pressure is easing, the market has not yet received major confirmation from more critical factors: foreign flow, the Rupiah, the BI Rate, the trade balance, and technical momentum.

Technically, the important level for the IHSG is around 6,450. As long as the IHSG is unable to achieve a weekly close above 6,450 with a strong candle, the possibility of further increases remains unconfirmed. This area serves as the differentiator between a standard rebound and a more serious trend reversal.

Until this level is breached, the most plausible scenario is that the IHSG will move sideways in the near future. Important support levels are located in the 5,650 area, followed by 5,300-5,400. If these supports hold, the IHSG could build a base. However, if they are breached, the risk of retesting lows remains open.