The IHSG opened lower during trading on Tuesday (19/5/2026). Nevertheless, several major banking stocks such as BMRI and BBRI were seen posting gains.

According to data from IDX Mobile, the IHSG fell 0.35 percent to 6,576.07 at 09.25 WIB. At the opening of trading, transaction volume reached 1.05 billion shares with a transaction value of Rp659 billion. Market capitalization at the opening stood at Rp11,454 trillion.

The IHSG moved within the range of 6,560.12 to 6,613.05 during this morning’s session. At the opening, 261 stocks advanced, 197 weakened, and 501 remained unchanged.

Looking at the movement of stocks with the largest market capitalization, shares of BBCA opened down 0.82 percent at Rp6,075, while DCII remained unchanged at Rp197,750. Meanwhile, BBRI opened 0.98 percent higher at Rp3,090.

Furthermore, shares of BREN corrected 3.13 percent to Rp3,090, while BYAN rose 2.52 percent to Rp12,200.

At the same time, BMRI gained 0.24 percent to Rp4,140 and BBNI increased 1.05 percent to Rp3,840.

Meanwhile, shares of MORA weakened 1.14 percent to Rp6,500, TLKM fell 1.30 percent to Rp3,040, TPIA plunged 10.11 percent to Rp3,290, and AMMN declined 4.64 percent to Rp3,290.

The research team at BRI Danareksa Sekuritas estimates that today’s IHSG movement will trade within support at 6,500 and resistance at 6,720. Market attention is currently focused on the upcoming interest rate decision by Bank Indonesia. The brokerage expects the central bank to raise benchmark interest rates amid pressure on the rupiah exchange rate.

“Technically, the IHSG remains in a bearish consolidation phase, although oversold conditions create opportunities for a short-term technical rebound. The IHSG is projected to move within the support range of 6,500 and resistance at 6,720,” the analysts wrote.

Meanwhile, the research team at Phintraco Sekuritas predicts the IHSG will move within resistance at 6,700 and support at 6,400. Analysts believe the weakening rupiah remains a negative sentiment for the composite index.

From a technical perspective, analysts explained that the IHSG formed a gap at the 6,705 level and closed below 6,600 after previously touching an intraday low of 6,398. The widening negative MACD histogram is still continuing, while the Stochastic RSI is approaching oversold territory although no reversal signal has yet appeared.

For today’s session, the IHSG is projected to move within the 6,400–6,700 range.

Regarding market sentiment, analysts noted that pressure on the rupiah has fueled expectations that BI may raise the BI Rate during this month’s board of governors meeting. However, the Governor of BI predicts that the rupiah exchange rate against the US dollar will begin strengthening in July 2026, considering that historically the rupiah tends to weaken between April and June due to higher US dollar demand during that period.

“If the BI Rate is raised to further curb rupiah depreciation, the move is intended to enhance the attractiveness of domestic investment instruments for foreign investors. As a result, yields on domestic investment instruments are expected to become more appealing,” analysts stated.

On the other hand, analysts also believe that higher interest rates could increase borrowing costs, potentially raising corporate interest expenses and reducing public purchasing power.

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