JAKARTA — The Bisnis-27 index closed in negative territory on Monday (11/5/2026), mirroring the broader decline in the Jakarta Composite Index (JCI). Despite the overall market downturn, several key stocks, including INCO, MBMA, ASII, and MAPI, managed to defy the trend and post gains.
Data from the Indonesia Stock Exchange (IDX) shows that the index, a collaboration between the bourse and Bisnis Indonesia, fell by 1.14% or 5.36 points to settle at 465.81. During the trading session, only 10 stocks in the index recorded gains, while 15 declined and 2 remained stagnant.
Among the standout performers, PT Vale Indonesia Tbk. (INCO) led the rally with an impressive 11.06% increase, reaching Rp6,025 per share. It was followed by PT Merdeka Battery Materials Tbk. (MBMA), which climbed 6.03% to Rp615. Other notable gainers included PT Astra International Tbk. (ASII), rising 3.86% to Rp6,050, and PT Mitra Adiperkasa Tbk. (MAPI), which grew by 3.44% to Rp1,505 per share.
Conversely, the index was weighed down by heavy selling in blue-chip stocks. PT Bank Mandiri (Persero) Tbk. (BMRI) saw the sharpest decline, dropping 8.21% to Rp4,250 per share, while PT Kalbe Farma Tbk. (KLBF) shed 3.26% to close at Rp890 per share.
The broader JCI also faced pressure, closing 0.92% lower at 6,905.62. The index opened the day at 6,959.94 and briefly touched a high of 7,001.68 before failing to maintain its momentum. Market breadth was largely negative, with 263 stocks rising, 463 declining, and 233 remaining flat, resulting in a total market capitalization of Rp12,283 trillion.
The Research Team at Mirae Asset Sekuritas noted that the JCI’s decline was primarily driven by heavy sell-offs in large-cap stocks. In their report dated May 11, 2026, analysts highlighted that shares such as DSSA, which dropped 8.0%, alongside BMRI, BREN, and TPIA—which fell by 8.0%, 5.1%, and 5.0% respectively—served as the primary drags on the index throughout the afternoon.
By the midday break, only two sectoral indices managed to stay in the green. The transportation and energy sectors bore the brunt of the market sell-off, recording the deepest losses. This domestic weakness mirrored trends across major Asian markets, which also traded in the red, though the declines in regional bourses were generally less severe than those seen in Jakarta.
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Summary
The Bisnis-27 index declined by 1.14% to close at 465.81 on Monday, mirroring the downward trend of the Jakarta Composite Index which fell 0.92% to 6,905.62. Market sentiment was dampened by significant sell-offs in major blue-chip stocks, including PT Bank Mandiri (BMRI) and PT Kalbe Farma (KLBF).
Despite the broader market contraction, select stocks demonstrated resilience by posting gains. Notable performers included PT Vale Indonesia (INCO) which surged 11.06%, alongside PT Merdeka Battery Materials (MBMA), PT Astra International (ASII), and PT Mitra Adiperkasa (MAPI) which also concluded the session in positive territory.
