IHSG Closes at Record High of 7,931, Needs Just 0.87% More to Hit 8,000 on Indonesia’s Independence Day
Main Takeaways
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JAKARTA, Investortrust.id —Indonesia’s benchmark stock index has closed at its highest level ever on Thursday, Aug. 14, 2025, as the Jakarta Composite Index, or IHSG, rose 38.34 points, or 0.49%, to finish at 7,931.25. The index briefly touched an intraday peak of 7,975.98, buoyed by selective gains in major conglomerate stocks, despite broader declines in Asian markets.
The day’s gains bring the index within striking distance of the symbolic 8,000 level, which it may reach in time for Indonesia’s 80th Independence Day on Sunday. A further rise of just 0.87% would push the IHSG over the milestone, a psychological barrier for domestic investors.
Driving the latest rally was a 10% surge in PT DCI Indonesia Tbk (DCII), followed by strong performances from PT Dian Swastatika Sentosa Tbk (DSSA) and PT Barito Renewables Energy Tbk (BREN), both linked to major local business groups.
Tech and Conglomerates Lead the Charge
The technology sector led sectoral gains with a 3.84% rise, followed by health care at 1.38%, non-primary consumer goods at 0.60%, primary consumer goods at 0.55%, and energy at 0.45%. In contrast, the materials, industrials, property, financial, and infrastructure sectors posted declines.
Several stocks hit the exchange’s upper trading limit, known as auto-reject atas (ARA), including PT Sumber Sinergi Makmur Tbk (IOTF), which soared 34.94% to Rp 112, and PT Equity Development Investment Tbk (GSMF), up 33.93% to Rp 75.
Other top performers included PT Pakuan Tbk (UANG), PT Indonesia Pondasi Raya Tbk (IDPR), PT Topindo Solusi Komunikasi Tbk (TOSK), PT WIR Asia Tbk (WIRG), and PT Jasnita Telekomindo Tbk (JAST), each rising between 24% and 28%.
On the flip side, top losers included NTBK, which fell 14.93% to Rp 57, and GRPH, down 14.44% to Rp 77. Others, such as BELL, POLU, DEFI, INPS, and CRSN, also posted sharp losses.
Prajogo and Sinarmas Dominate Market Cap Surge
This week’s momentum has been largely attributed to buying in shares linked to conglomerates Prajogo Pangestu and the Sinarmas Group, both of which saw their flagship firms inducted into the MSCI Index ahead of the quarterly rebalancing.
Barito Group’s BREN jumped 17.57% to Rp 9,200, cementing its status as the largest company by market capitalization on the Indonesia Stock Exchange at Rp 1,227.48 trillion. Other Barito-affiliated companies also rallied, including PT Chandra Daya Investasi Tbk (CDIA), PT Petrindo Jaya Kreasi Tbk (CUAN), and PT Petrosea Tbk (PTRO), following MSCI’s inclusion of CUAN and PTRO into its global standard index.
According to BEI data, companies affiliated with Prajogo Pangestu now contribute roughly 18.65% of the total market capitalization of Rp 3,198 trillion as of Aug. 12.
Similarly, DSSA, the Sinarmas Group’s energy arm, climbed 41.92% to Rp 91,975, driven by the same MSCI inclusion set to take effect on Aug. 26. DSSA now ranks as the fourth-largest company on the exchange with a market cap of Rp 708.86 trillion.
Foreign Inflows and Big-Cap Momentum
Investor sentiment was further supported by consistent foreign buying. On Wednesday, Aug. 13, the IHSG jumped 1.30% to 7,892.91, on the back of Rp 1.48 trillion in net foreign inflows. Most of this was directed at blue-chip stocks such as PT Telkom Indonesia Tbk (TLKM), PT Bank Rakyat Indonesia Tbk (BBRI), and PT Bank Central Asia Tbk (BBCA), which absorbed Rp 724.20 billion, Rp 405.78 billion, and Rp 278.75 billion, respectively.
Pandhu Dewanto, analyst at Investindo Nusantara Sekuritas, noted that the MSCI inclusion of these conglomerates “seems to have inspired many other business groups to grow their market caps with hopes of following suit.”
He added that recent capital inflows have favored large-cap stocks, particularly in the banking and telecommunications sectors, which had been lagging. “The momentum is strong. The IHSG has a real chance to hit 8,000 by Independence Day,” he said.
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