Rancak Media reports from Jakarta, Indonesia — The Jakarta Composite Index (JCI), widely known as the IHSG, has reached an extraordinary milestone, recording a new all-time high (ATH) of 8,419.91 on Thursday, November 20, 2025. This remarkable surge in the benchmark index was significantly driven by the robust performance of several prominent big-cap stocks, notably BMRI, BREN, and BYAN.
According to data from the Indonesia Stock Exchange (IDX), the IHSG concluded the trading day with a solid gain of 0.16%, or 13.34 points, to settle at its new record closing level of 8,419.91. Throughout the day, the composite index commenced trading at 8,449.54 and even touched an intraday peak of 8,491.42, underscoring strong market sentiment and investor confidence.
Market breadth for the day revealed 311 stocks registering gains, while 306 declined, and 195 remained unchanged, indicating a predominantly positive yet diverse market movement. Concurrently, the total market capitalization, or market cap, reached an astounding Rp15,409 trillion, reflecting the immense value within the Indonesian equity market.
The upward trajectory of the IHSG was substantially fueled by a stellar performance from key big-cap stocks. PT Bank Mandiri (Persero) Tbk. (BMRI) led the charge, climbing 1.86% to Rp4,930. Similarly, PT Barito Renewables Energy Tbk. (BREN) saw a notable increase of 1.29% to Rp9,800 per share. Other significant contributors included PT Dian Swastatika Sentosa Tbk. (DSSA), which advanced 0.89% to Rp99,500, PT Unilever Indonesia Tbk. (UNVR) with a 0.78% increase, and PT Bayan Resources Tbk. (BYAN), which recorded a respectable growth of 0.42%.
Conversely, certain stocks acted as a drag on the index despite the overall positive movement. PT Pantai Indah Kapuk Dua Tbk. (PANI) saw a 0.71% decline, settling at Rp13,900, while PT Bank Central Asia Tbk. (BBCA) recorded a 0.59% drop, trading at Rp8,425 per share.
Shifting focus to the broader market, the day’s top gainers included PT Informasi Teknologi Indonesia Tbk. (JATI), which surged an impressive 31.30% to Rp172, followed by PT Asri Karya Lestari Tbk. (ASLI), posting a significant growth of 22.05% to Rp238.
On the other end of the spectrum, the top losers for the day were led by PT Fortuna Mate Indonesia Tbk. (FMII), experiencing a correction of 14.75% to Rp370. This was closely followed by PT Indo American Seafoods Tbk. (ISEA), which saw its share price decline by 11.93% to Rp96 per share.
Providing expert commentary on the market’s performance, Valdy Kurniawan, Head of Research at Phintraco Sekuritas, noted that the IHSG had already closed the first trading session with a strong gain of 0.81%, reaching 8,475.39. This early momentum was consistent with positive movements across various stock sectors, particularly cyclicals, which spearheaded the advance with a 2.70% increase, closely followed by the energy sector (up 1.04%) and the financial sector (recording a 0.68% rise).
Furthermore, Valdy highlighted that from a technical analysis perspective, the MACD histogram displayed a widening trend with a positive slope, signaling that the bullish momentum remains intact. Based on these favorable indicators, Phintraco Sekuritas projected that the IHSG would continue to trade robustly, moving within the range of 8,400 to 8,500 during the second trading session of the day.
This record-breaking performance builds on recent strength, as the composite index had previously set an all-time high on Monday, November 17, with a 0.55% gain, reaching 8,416.88. This consistent upward trend underscores the resilience and growing potential of the Indonesian stock market.
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Summary
The Jakarta Composite Index (JCI), also known as IHSG, achieved a new all-time high of 8,419.91 on Thursday, November 20, 2025, closing with a 0.16% gain. This significant surge was largely fueled by strong performances from key big-cap stocks, including PT Bank Mandiri (BMRI) and PT Barito Renewables Energy (BREN). The market’s total capitalization simultaneously reached an impressive Rp15,409 trillion, underscoring its immense value.
While the overall trend was positive, certain stocks like PT Pantai Indah Kapuk Dua (PANI) and PT Bank Central Asia (BBCA) experienced declines. Analyst commentary noted favorable movements in cyclical, energy, and financial sectors, with technical indicators suggesting continued bullish momentum. This new record builds upon a previous all-time high set days earlier, indicating sustained growth in the Indonesian stock market.
