JCI Soars: Which Conglomerate Stocks Are Racing Ahead?

Jakarta, CNBC Indonesia - In trading today, Wednesday (10/6/2026), the Composite Stock Price Index (IHSG) managed to close stronger again at the end of the first session at the level of 5,881.23, up 2.34% from the previous day’s close. This was partly due to the House of Representatives (DPR) highlighting the movement of banking stocks, which had been depressed due to negative sentiment in the domestic stock market. Responding to this dynamic, Deputy Speaker of the Indonesian House of Representatives Sufmi Dasco Ahmad, together with Minister of State Secretary Prasetyo Hadi, held coordination with Danantara, BPJS TK, INA, and directors of Himbara on Tuesday (9/6/2026). This meeting focused on evaluating the national banking situation. Dasco stated that, considering the solid performance and fundamentals, state-owned bank stocks were currently at a potential level for accumulation by investors again. The statement aligns with data presented by the President Director of PT Bank Negara Indonesia (Persero) Tbk (BBNI), Putrama Wahju Setyawan. He asserted that Himbara’s fundamentals are performing at their best. This is reflected in the growth of credit distribution and Third Party Funds (DPK) ranging from 20% to 30%. Banking liquidity is also well maintained, with a Loan to Deposit Ratio (LDR) at 88% to 90%, and non-performing loan (NPL) ratios under control below 2%. Minister of State Secretary Prasetyo Hadi also appreciated the coordination initiative. He stressed the importance of synergy and further discussions between market players, including Taspen, BPJS, and INA, to maintain stability while addressing national economic challenges. Interestingly, the positive sentiment from the policymakers’ meeting not only supported the pace of state-owned banking but also spread to a series of stocks belonging to conglomerate issuers. Based on market movement data over the past two days following the meeting, the majority of stocks from large groups recorded significant value appreciation. Shares of PT Pradiksi Gunatama Tbk (PGUN) led the list of highest gains, soaring by 37.12% over two days. The next position was occupied by PT Rukun Raharja Tbk (RAJA), with an increase of 36.74%, followed by PT Bukit Uluwatu Villa Tbk (BUVA), which appreciated by 36.36%. This positive trend reflects market players’ optimism about the prospects for the domestic capital market after signals of direct support from the government.