Rancak Media – JAKARTA – The Composite Stock Price Index (IHSG) closed in positive territory on Wednesday (April 29), successfully snapping a seven-day losing streak. The market’s recovery was primarily driven by gains in major blue-chip stocks, including BREN and AMMN.
According to IDX Mobile data, the IHSG rose by 0.41%, or 28.84 points, to settle at 7,101.23. The market breadth was positive, with 399 stocks advancing, 297 declining, and 263 remaining unchanged.
Significant momentum was provided by key heavyweights. BREN led the charge, climbing 1.72% to Rp4,730, followed by AMMN, which gained 1.46% to Rp5,200. Other notable performers included TLKM (+1.77% to Rp2,870), ASII (+0.41% to Rp6,050), and PANI (+1.17% to Rp8,650). Additionally, stocks such as CUAN, BBNI, CDIA, IMPC, and UNTR also contributed to the index’s upward movement.
Despite the recovery, analysts at Phintraco Sekuritas noted that the IHSG remains under pressure. Technically, the session revealed a “death cross” between the MA5 and MA20, a bearish signal further corroborated by the widening negative histogram on the MACD. However, the stochastic RSI has entered the “oversold” zone, suggesting a potential for a short-term technical rebound.
This rebound follows a 0.48% decline on Tuesday (April 28), a drop largely triggered by geopolitical instability in the Middle East, which has fueled global energy inflation. In response to these rising energy costs, the government has implemented incentive measures, including a six-month waiver on import tariffs (0%) for LPG and plastic products.
Looking ahead, market participants are keeping a close watch on critical economic data and corporate developments. Key catalysts on the horizon include the upcoming U.S. Federal Reserve interest rate decision and the release of Q1 2026 financial reports from various issuers.
Market analysts emphasized that investor sentiment will be heavily influenced by the Fed’s policy meeting and the remarks from the Fed Chair, due later this Wednesday. Furthermore, the market awaits essential U.S. economic data, including building permits, durable goods orders, and housing starts, followed by PCE price indices and Q1 2026 GDP figures on Thursday (April 30).
On the domestic front, investors are focusing on the Q1 2026 earnings season and a wave of corporate actions, including dividend distributions and rights issues, which are expected to shape the market trajectory in the coming weeks.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or an invitation to buy or sell securities. Investment decisions remain the sole responsibility of the reader. Bisnis.com is not liable for any gains or losses resulting from investment decisions made based on this information.
Summary
The Indonesia Composite Stock Price Index (IHSG) rose by 0.41% to close at 7,101.23 on Wednesday, successfully ending a seven-day losing streak. This recovery was primarily fueled by gains in major heavyweights such as BREN, AMMN, and TLKM. Despite the positive market breadth, analysts noted that the index remains under technical pressure while monitoring the potential for a short-term rebound suggested by the stochastic RSI.
Market sentiment is currently being shaped by anticipation of the U.S. Federal Reserve’s upcoming interest rate decision and key economic data releases. Domestically, investors are closely tracking the ongoing Q1 2026 earnings season and various corporate actions, including dividend distributions. These global and local factors are expected to remain the primary catalysts for market movement in the coming weeks.
