The Jakarta Composite Index (IHSG) ended Thursday's (12/11/2026) trading with gains. The index closed at 5,250.90, up 135.86 points or 2.66%. The rise came amid Vice President Gibran Rakabuming Raka's resignation and the results of the MSCI index review.

Higher all day and closing at its peak

IHSG opened at 5,119.53 and stayed in positive territory throughout the day. The index closed exactly at its day high of 5,250.90. Trading volume reached 392.52 million lots with a value of Rp11.09 trillion.

Sectors and stocks behind the move

According to Refinitiv data, the sectors supporting the index were energy, up 4.02%, followed by consumer cyclicals at 2.26%, consumer non-cyclicals at 2.12%, technology at 1.97% and financials at 1.91%.

Stocks driving IHSG higher included PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI), PT Bank Mandiri (Persero) Tbk. (BMRI), PT Bank Central Asia Tbk. (BBCA), PT Telkom Indonesia (Persero) Tbk. (TLKM) and PT Astra International Tbk. (ASII). Stocks holding the index back that day were PT Barito Pacific Tbk. (BRPT), PT XLSmart Telecom Sejahtera Tbk. (EXCL), PT Merdeka Copper Gold Tbk. (MDKA), PT Merdeka Gold Resources Tbk. (EMAS) and PT Pantai Indah Kapuk Dua Tbk. (PANI).

What the market was watching

On Thursday, Indonesia's financial market weighed a mix of domestic political developments, changes to stock index composition and several global economic releases. The submission of Vice President Gibran's resignation was a national event that drew the main attention of market players.

The MSCI review results announced in the morning brought changes to several Indonesian stocks. Two stocks left MSCI Global Standard: Barito Pacific (BRPT) and Bumi Resources Minerals (BRMS). BRMS moved to Small Cap, while BRPT is not listed as an addition to that group. From Small Cap, seven stocks were removed: AVIA, CTRA, MTEL, EMTK, JSMR, RAJA and WIFI. The only Indonesian addition in this group is BRMS, through its move from Standard. Eight stocks therefore left the combined Standard and Small Cap coverage, while BRMS remains a constituent through Small Cap.

In addition, the announcement of the latest list of high-concentration stocks and the formation of Danareksa Investment Management drew focus. The day's agenda also included the MSCI rebalancing, Japan's producer price inflation and US weekly jobless claims. A surge in the US dollar was feared to pressure the rupiah.

Sources

• IHSG Ditutup Naik 2,66% ke 5.250,90 usai Gibran Mundur & Rilis MSCI — CNBC Indonesia (Annisa Rini), 12 November 2026 16:06. https://www.cnbcindonesia.com/market/20261112152847-17-784722/ihsg-ditutup-naik-266-ke-525090-usai-gibran-mundur-rilis-msci