Business-27 Weakens: Are KLBF, AMRT, and INKP the Saviors?

Rancak Media – JAKARTA — The Bisnis-27 Index concluded trading with a decline on Wednesday, December 3, 2025, amidst a broader correction in the Jakarta Composite Index (IHSG). Despite the overall market weakness, several prominent stocks, including KLBF, AMRT, INKP, and HEAL, managed to close in positive territory.

According to data from the Indonesia Stock Exchange (IDX), the Bisnis-27 Index, a collaboration between the IDX and daily newspaper Bisnis Indonesia, fell by 0.25% to reach 546.44. Market activity within the index saw 11 stocks strengthen, 14 stocks experience corrections, and 2 stocks remain stagnant.

Leading the gainers was PT Kalbe Farma Tbk. (KLBF), which surged by 3.07% to Rp1,175 per share. Close behind was PT Sumber Alfaria Trijaya Tbk. (AMRT), registering a 1.94% increase to close at Rp1,840 per share.

Other notable performers included PT Indah Kiat Pulp & Paper Tbk. (INKP), which appreciated by 1.16% to Rp8,750 per share, and PT Medikaloka Hermina Tbk. (HEAL), which saw a 1.07% rise to Rp1,415 per share, showcasing resilience in a challenging market environment.

Conversely, among the decliners, shares of PT Indofood Sukses Makmur Tbk. (INDF) experienced a 2.08% correction, settling at Rp7,050 per share. Similarly, PT Aneka Tambang Tbk. (ANTM) also saw a significant drop, falling by 2.01% to Rp2,920 per share, reflecting the downward pressure on some blue-chip stocks.

Meanwhile, the broader Jakarta Composite Index (IHSG) closed with a slight correction of 0.06% or 5.25 points, ending the day at 8,611.79 on Wednesday, December 3, 2025. The composite index had opened at 8,655.02 and reached an intraday high of 8,669.19. In the broader market, stocks like CUAN, CDIA, and DSSA were notably in the red, contributing to the overall market decline.

The market breadth for the day showed mixed sentiment, with 349 stocks advancing, 332 stocks declining, and 275 stocks remaining unchanged. The total market capitalization, or market cap, stood at an impressive Rp15,815 trillion, indicating the sheer scale of the Indonesian equity market.

Valdy Kurniawan, Head of Research at Phintraco Sekuritas, noted that the IHSG had shown strength earlier in the day, closing up 0.21% at 8,635.11 during the first trading session. This temporary boost, Valdy explained, was primarily driven by robust performances in key sectors, with the infrastructure sector strengthening by 1.65% and the technology sector gaining 1.26%, providing crucial support to the index.

From a technical perspective, modern indicators were signaling a bullish trend for the IHSG. Valdy pointed out that this optimistic outlook was reflected in the widening MACD histogram and the upward movement of the Stochastic RSI, suggesting potential for continued positive momentum. “We anticipate the IHSG to trade within the range of 8,600 to 8,650 during the second trading session today,” he stated in his daily research report.

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