The Composite Stock Price Index (IHSG) opened higher on Thursday (12/2/2026). As of 9:01 AM, the index had risen by 26.27 points, or 0.32%, to 8,317.

According to data from the Indonesia Stock Exchange, trading volume reached 7 billion shares with a total transaction value of Rp3.7 trillion. Within the first ten minutes of trading, transaction frequency was recorded at 449,957 trades.

A total of 258 stocks advanced, 264 declined, and 184 remained unchanged.

For today’s session, BRI Danareksa Sekuritas stated that the index’s rise was driven by improved investor sentiment following Prabowo Subianto’s meeting with conglomerates, reform initiatives and active communication between the Indonesia Stock Exchange and the Financial Services Authority, corporate earnings releases, technical factors, and the strengthening rupiah against the US dollar.

“Technically, the IHSG has the potential to extend its gains by testing the 8,306 resistance level,” cited from BRI Danareksa Sekuritas research.

Market sentiment remains constructive amid positive responses to the government’s agenda and the IDX’s plan to introduce a Shareholder Concentration List to enhance market transparency.

BRI Danareksa’s stock picks for today include ELSA, LEAD, and PSAB.

Similarly, Phintraco Sekuritas noted that the IHSG’s strengthening was supported by rising investor optimism toward Indonesia’s capital market, corporate earnings reports, and technical indicators. The rupiah also continued to appreciate against the US dollar.

“Technically, the IHSG has managed to extend its rally, supported by an increase in the Stochastic RSI indicator and continued narrowing of the negative MACD histogram,” according to Phintraco’s report.

Buying volume has also increased, leading to expectations that the IHSG could continue its upward movement and test the 8,350–8,400 range today.

Meanwhile, follow-up discussions between the IDX and MSCI on Wednesday included disclosure of shareholders owning more than 1%, provision of more granular investor data, and progress on raising the minimum free float requirement from 7.5% to 15%.

The IDX will also introduce a new policy called the Shareholders Concentration List, identifying stocks with concentrated ownership structures.

Phintraco’s top picks include WIFI, BBYB, HRUM, NCKL, and AADI.

On the other hand, CGS International Sekuritas Indonesia stated that the decline in Wall Street and continued foreign net selling could pose negative sentiment for the market.

However, rising prices of most commodities may provide positive support for the IHSG.

“The IHSG is projected to move variably with a bullish tendency, within a support range of 8,200–8,110 and resistance at 8,380–8,475,” wrote CGS International.

CGS’s selected stocks include INCO, NCKL, ANTM, TLKM, MBMA, and BRMS.

Panin Sekuritas projected that the IHSG would strengthen, supported by easing concerns over MSCI adjustments following several policy measures taken to comply with MSCI standards, a more stable rupiah exchange rate, and gains in most commodity prices today.

“For today, we expect the IHSG to rise,” stated Panin Sekuritas, with the index heading toward MA-20 and MA-50 resistance levels at 8,395–8,508.

The nearest support level is at MA-5, positioned at 8,160.

Panin Sekuritas’ stock picks for today are MYOR, KLBF, and MIKA.