Indonesian Stock Market Analysis: IHSG Movement and Investor Sentiment

Market Performance on December 17, 2025

The Indonesian Composite Index (IHSG) closed 0.11% lower at 8,677.34 on December 17, 2025 ¹

. This decline was observed amid mixed investor sentiment and varying technical analysis from different market analysts. The trading range for the day was between 8,729 (high) and 8,660 (low) ⁵

Source 5

https://finance.detik.com/bursa-dan-valas/d-8264596/ihsg-ditutup-melemah-ke-level-8-677

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Technical Analysis and Future Outlook

Analysts from Binaartha Sekuritas, led by Ivan Rosanova, indicated that the IHSG remains in a consolidation phase below the 8,742 resistance level ¹

. They suggested that a break above this level could lead to further gains towards 8,877 ¹

Source 1

https://investasi.kontan.co.id/news/simak-rekomendasi-saham-blue-chip-untuk-perdagangan-hari-ini-1812

. Conversely, MNC Sekuritas' Head of Retail Research, Herditya Wicaksana, noted that the IHSG might be entering a corrective phase, potentially testing the 8,464–8,560 range ²

Source 2

https://investasi.kontan.co.id/news/cek-rekomendasi-saham-pilihan-mnc-sekuritas-hari-ini-1812-ihsg-diprediksi-melemah

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Investor Activity and Market Sentiment

Despite the IHSG's decline, foreign investors recorded a net buy of Rp 280.47 billion across all markets ⁴

. The top stocks with foreign net buys included PT Metro Healthcare Indonesia Tbk (CARE) with Rp 648.8 billion, PT Impack Pratama Industri Tbk (IMPC) with Rp 311.7 billion, and PT MD Entertainment Tbk (FILM) with Rp 113.9 billion ⁴

Source 4

https://pusatdata.kontan.co.id/news/ihsg-turun-ke-8677-hari-ini-1712-net-buy-asing-mencapai-rp-280-miliar

. Conversely, foreign investors sold shares worth Rp 384.6 billion in PT Bumi Resources Tbk (BUMI), Rp 226 billion in PT Bank Central Asia Tbk (BBCA), and Rp 199.6 billion in PT Darma Henwa Tbk (DEWA) ⁴

Source 4

https://pusatdata.kontan.co.id/news/ihsg-turun-ke-8677-hari-ini-1712-net-buy-asing-mencapai-rp-280-miliar

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Sectoral Performance and Market Indicators

The decline in IHSG was partly attributed to weakness in several sectoral indices, including IDX-Techno (-2.82%), IDX-Cyclic (-1.16%), IDX-Basic (-0.22%), and IDX-Property (-0.18%) ³

. The total trading volume reached 53.3 billion shares with a transaction value of Rp 37.5 trillion ³

Source 3

https://investasi.kontan.co.id/news/ihsg-ditutup-turun-011-ke-86773-rabu-1712-top-losers-emtk-scma-brpt

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Analyst Predictions and Market Outlook

William Hartanto from WH-Project suggested that the IHSG could potentially move higher within the 8,600–8,700 range on December 18, 2025 ⁶

. This prediction is based on the index's ability to maintain its position above the 8,612 demand zone ⁶

Source 6

https://investasi.kontan.co.id/news/intip-rekomendasi-beli-saham-klas-smdr-jpfa-dan-bren-di-kamis-1812

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