Rancak Media JAKARTA – The Indonesia Composite Index (IHSG) finished in the red during Monday’s trading session on May 11, 2026. This downward trend saw several high-profile stocks, including BMRI, CUAN, and ESSA, lose ground by the closing bell.
According to data from the Indonesia Stock Exchange (IDX), the IHSG slipped 0.92%, closing at 6,905.62. Throughout the day, the index fluctuated between a high of 7,001.68 and a low of 6,846.63. The market sentiment remained predominantly bearish, with 463 stocks declining against 263 gainers, while 233 shares remained unchanged.
Within the blue-chip LQ45 index, PT Bank Mandiri (Persero) Tbk. (BMRI) led the decline, plunging 8.21% to Rp4,250. It was followed by PT Petrindo Jaya Kreasi Tbk. (CUAN), which dropped 8.04% to Rp1,030, and PT ESSA Industries Indonesia Tbk. (ESSA), which slid 3.59% to Rp805.
Other notable decliners included PT Elang Mahkota Teknologi Tbk. (EMTK), down 3.29% to Rp735, PT Kalbe Farma Tbk. (KLBF), which fell 3.26% to Rp890, and PT Barito Pacific Tbk. (BRPT), weakening by 3.17% to Rp1,985. This volatility comes despite the Solid Performance of LQ45 Issuers in Q1/2026, a period where analysts have heavily favored the banking and energy sectors.
In contrast, several stocks bucked the trend with impressive gains. PT Vale Indonesia Tbk. (INCO) surged 11.06% to Rp6,025, while PT Merdeka Battery Materials Tbk. (MBMA) climbed 6.03% to Rp615. PT Astra International Tbk. (ASII) also showed resilience, rising 3.86% to Rp6,050.
Joining the list of gainers were PT Mitra Adiperkasa Tbk. (MAPI), which rose 3.44% to Rp1,505, PT Merdeka Copper Gold Tbk. (MDKA) up 3.24% to Rp2,870, and PT Aneka Tambang Tbk. (ANTM), which increased by 1.93% to Rp3,700.
Earlier, BRI Danareksa Sekuritas Analyst Reza Diofanda predicted that the IHSG would test support levels between 6,900 and 6,920, continuing a downward trajectory from the previous week when the index fell 2.86% to 6,969. Reza noted that investors are currently focused on developments regarding mineral royalties and the upcoming MSCI rebalancing.
“Technically, the IHSG is testing a critical support zone at 6,900—6,920. The market will continue to monitor the issue of rising mineral royalties while awaiting several key data releases, such as Indonesia’s consumer confidence index and the MSCI rebalancing announcement scheduled for May 12, 2026,” Reza explained in his daily research report on Monday.
Disclaimer: This report is not intended as an invitation to buy or sell shares. Investment decisions rest entirely with the reader. Bisnis.com is not responsible for any losses or gains resulting from the reader’s investment decisions.
Summary
The Indonesia Composite Index (IHSG) declined by 0.92% on May 11, 2026, closing at 6,905.62 amid bearish market sentiment. Notable blue-chip stocks such as BMRI, CUAN, and ESSA led the downward trend, while 463 stocks recorded losses throughout the trading session.
Despite the broader market decline, companies like INCO and MBMA managed to post significant gains. Analysts suggest the index is currently testing critical support levels as investors monitor developments regarding mineral royalties and the upcoming MSCI rebalancing.
