Banking Stocks Under Technical Pressure as Mixed Performance Continues

Technical Factors Dominate Early 2026 Trading

The banking sector stocks demonstrated mixed performance during the early weeks of 2026, with their movements primarily attributed to technical factors. While major banks showed varied performance, only PT Bank Central Asia Tbk (BBCA) managed to close higher at Rp 8,125, representing a 0.93% gain. In contrast, other major banking stocks such as PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), and PT Bank Mandiri Tbk (BMRI) experienced declines of 0.71%, 0.81%, and 1.04% respectively.

Analyst Expectations for Q1 2026

Despite the current sluggish performance of big banks, analysts remain optimistic about potential positive developments in Q1-2026. Various positive sentiments are expected to emerge during this period, which could potentially drive stock prices higher. The anticipation is based on historical trends and forthcoming financial announcements that are likely to influence investor confidence positively.

Market Performance Overview

As of the closing on Friday, January 9, 2026, the stock prices of major banks were as follows:

• BBCA: Rp 8,125 (up 0.93%)
• BBNI: Rp 4,180 (down 0.71%)
• BBRI: Rp 3,680 (down 0.81%)
• BMRI: Rp 4,760 (down 1.04%)

The varied stock movements reflect the current market dynamics influenced by technical factors, while upcoming quarters are expected to bring fresh catalysts for potential growth.