JCI Closes Up 1.22% Today, Market Euphoria Over 5.6% Economic Growth

Jakarta, CNBC Indonesia — The Composite Stock Price Index (JCI) rose 85.16 points or 1.22% to 7,057.11 at the close of trading today, Tuesday (5/5/2026).

A total of 360 stocks rose, 328 fell, and 271 remained unchanged. Trading value reached Rp16.9 trillion, involving 41.39 billion shares in 2.42 million transactions. Market capitalisation also increased to Rp12,630 trillion.

Based on market data, five stocks recorded the highest trading values: Barito Pacific (BRPT) Rp2.58 trillion, Bank Central Asia (BBCA) Rp2.25 trillion, Bank Mandiri (BMRI) Rp2.03 trillion, Petrosea (PTRO) Rp1.66 trillion, and Bank Rakyat Indonesia (BBRI) Rp1.63 trillion.

Quoting Refinitiv, three sectors supported the JCI: raw materials up 5.55%, utilities 4.1%, and financials 2.36%.

Stocks associated with Prajogo Pangestu and the banking sector propelled the overall JCI performance. BRPT, which surged to the upper auto rejection limit (ARA) of 24.66% to 2,300, contributed 25.6 points.

Another Prajogo stock, Chandra Asri Pacific (TPIA), also jumped 19.7% and contributed 20.67 points, followed by Petrindo Jaya Kreasi (CUAN) with 5.6 points and Barito Renewables Energy (BREN) with 4.8 points.

The JCI’s rise aligned with the Central Statistics Agency (BPS) reporting Indonesia’s economic growth in the first quarter of 2026 at 5.61% year-on-year (yoy).

This growth rate was higher than the 5.39% in the fourth quarter of 2025 and the same period the previous year, or 4.87% yoy in the first quarter of 2025.

“Indonesia’s economic growth is 5.61% in the first quarter of 2026,” said BPS Chief Amalia Adininggar Widyasanti during a press conference at BPS headquarters in Jakarta, Tuesday (5/5/2026).

Nevertheless, the JCI still faces several pressures. The rupiah exchange rate came under further pressure against the US dollar in Tuesday’s trading (5/5/2026).

Referring to Refinitiv data, the rupiah closed 0.26% weaker at Rp17,410/US$. This position also marked the weakest closing level for the rupiah ever.

Throughout the day’s trading, the rupiah moved in the range of Rp17,380-Rp17,445/US$. This weakening also extended the Garuda currency’s depreciation trend to five consecutive trading days.

Meanwhile, the already fragile ceasefire between the United States and Iran appeared on the brink of collapse on Monday, when the United Arab Emirates was attacked by Iranian drones and missiles, while the US stated it had sunk Iranian ships in the Strait of Hormuz.

US President Donald Trump, in an interview with Fox News on Monday, warned Iran that the country would be “wiped off the face of the earth” if it targeted US ships protecting merchant vessels transiting the strait.

Trump also posted on Truth Social that a South Korean cargo ship had been targeted by Iranian gunfire in those waters. “Perhaps it’s time for South Korea to join this mission!” he wrote.

Stock market indices closed sharply lower on Monday, while oil prices rose, as investor concerns grew that the war’s impact on the global economy could worsen or last longer.