Executive Summary

Key insights and market outlook

The Indonesian Composite Index (IHSG) reached a new record high of 8,933.60 on January 6, 2026, marking a 0.84% increase ⁴

. This surge is supported by strong foreign investor inflows with net buys totaling Rp590.94 billion ⁵. Top gainers in LQ45 included AMMN (10.71%), NCKL (10.17%), and ADMR (9.73%) ⁵. The market's upward momentum is driven by internal factors rather than external influences ³.

Full Analysis

02

Deep Dive Analysis

Indonesian Stock Market Reaches New Heights

Record-Breaking IHSG Performance

The Indonesian Composite Index (IHSG) achieved a new all-time high closing at 8,933.60 on January 6, 2026, representing a 0.84% increase or 74.41 points ⁴

. This performance follows five consecutive days of gains, accumulating a 4.63% increase since December 29, 2025 ⁵.

Sectoral Performance and Market Dynamics

Most sectoral indices contributed positively to the IHSG's rise, with nine out of ten sectors showing gains. The basic materials sector led with a 3.35% increase, followed by the industrial sector at 2.14%, and energy at 1.62% ⁵

. The technology sector, which rose 1.57%, continues to be driven by stocks related to data, cloud, and artificial intelligence themes that were popular in 2025 ¹.

Investor Activity and Market Sentiment

Foreign investors played a significant role, recording a net buy of Rp590.94 billion across all markets ⁵

. Major stocks with significant foreign buying included PT Rukun Raharja Tbk (RAJA), PT Bank Central Asia Tbk (BBCA), and PT Bank Rakyat Indonesia Tbk (BBRI). Conversely, foreign investors sold heavily in PT Bumi Resources Tbk (BUMI), PT Bank Mandiri Tbk (BMRI), and PT Energi Mega Persada Tbk (ENRG) ⁵.

Analyst Insights and Market Outlook

Market observers believe that the IHSG's continued record-breaking performance indicates that internal factors are more dominant than external influences ³

. The strong domestic investor base and positive economic growth expectations are seen as key drivers. Analysts predict that the IHSG could potentially reach the 9,000 level in the near term ³.

References