Indonesian Stocks Open Higher as Banks and Large-Cap Shares Lift the IDX Composite

JAKARTA — Indonesian equities opened in positive territory on Thursday, July 16, 2026, with gains in major banking, mining, renewable-energy and consumer stocks supporting the IDX Composite.

The benchmark index traded at around 6,058 shortly after the opening bell, representing an increase of approximately 0.2%–0.3% from Wednesday’s closing level of 6,041.97. During the first few minutes, the index moved within a range of roughly 6,052 to 6,063.

Opening figures varied slightly between market-data providers because their snapshots were recorded at different times. ANTARA reported an opening level of 6,056, while RTI data cited by Kontan placed the index at 6,058.63 shortly afterward.

Large-Cap Stocks Lead Early Gains

PT Amman Mineral Internasional Tbk. was among the leading contributors, with AMMN rising about 1.60% to Rp3,820 per share.

Major state-owned lenders also advanced. Bank Mandiri shares gained approximately 1.19% to Rp4,250, while Bank Negara Indonesia and Bank Rakyat Indonesia climbed around 0.87% and 0.71%, respectively.

Renewable-energy company Barito Renewables Energy rose roughly 1.17% to Rp3,470. Consumer-goods producer Unilever Indonesia added approximately 0.60%.

According to the initial market snapshot used for this report, 231 stocks advanced, 140 declined and 272 were unchanged. Total market capitalization stood at approximately Rp10,610.37 trillion.

Market breadth figures continued to change as trading progressed. At 9:05 a.m. Jakarta time, Detik reported 266 advancing stocks, 161 decliners and 239 unchanged issues.

The 6,000 Level Remains a Key Technical Base

BNI Sekuritas said the benchmark could extend its recovery after successfully defending the psychologically important 6,000 level for two consecutive sessions.

Fanny Suherman, Head of Retail Research at BNI Sekuritas, identified the 6,000–6,025 range as the nearest support zone. Immediate resistance was projected between 6,060 and 6,120.

A sustained move above that resistance area could strengthen the market’s short-term recovery momentum. Failure to break through it, however, could keep the index trading within a relatively narrow range.

The IDX Composite ended Wednesday, July 15, at 6,041.97, up a marginal 0.04%. Despite the positive close, foreign investors remained net sellers, with reported outflows ranging from approximately Rp152 billion to Rp160 billion depending on the data provider.

Telkom Indonesia, Bumi Resources Minerals, Astra International, Bank Central Asia and Energi Mega Persada were among the stocks recording notable foreign selling.

Softer US Inflation Supports Global Risk Sentiment

External sentiment also offered support to Indonesian equities after major US stock indexes closed higher on Wednesday.

The Dow Jones Industrial Average gained 0.29%, the S&P 500 advanced 0.38%, and the Nasdaq Composite climbed approximately 0.62%. Gains in megacap technology stocks—including Apple, Alphabet and Amazon—helped lift the broader market.

Investor sentiment improved after the US Producer Price Index unexpectedly fell 0.3% month-on-month in June. The decline suggested that wholesale inflationary pressure was easing, contributing to lower Treasury yields and renewed demand for risk assets.

The combination of stronger large-cap Indonesian stocks, technical support near 6,000 and positive signals from Wall Street provides room for the IDX Composite to extend its gains. Nevertheless, continued foreign selling and resistance between 6,060 and 6,120 remain important risks for investors to monitor.