JAKARTA – The Bisnis-27 Index concluded today’s trading session, Thursday, February 19, 2026, on a weaker note. Despite the overall decline, several prominent stocks, including BUMI, ANTM, and INKP, demonstrated impressive strength throughout the day’s trading.
According to data from the Indonesia Stock Exchange (IDX), the index—a collaborative effort between the IDX and the daily newspaper Bisnis Indonesia—closed at 540.95, reflecting a 0.88% correction. Of its 27 constituent stocks, 11 registered gains, 13 experienced declines, and 3 remained stagnant.
Leading the charge in stock price gains was PT Bumi Resources Tbk. (BUMI), which climbed 5.63% to Rp300. It was closely followed by PT Aneka Tambang Tbk. (ANTM), rising 4.44% to Rp4,230, and PT Indah Kiat Pulp & Paper Tbk. (INKP), which saw an increase of 4.30% to Rp10,300.
Further showcasing strength were PT Alamtri Minerals Indonesia Tbk. (ADMR), up 3.31% to Rp2,030; PT Trimegah Bangun Persada Tbk. (NCKL), which gained 3.09% to Rp1,500; and PT Alamtri Resources Indonesia Tbk. (ADRO), advancing 2.22% to Rp2,300 per share.
Conversely, a subdued performance was recorded by several key players. Among them, PT Bank Mandiri (Persero) Tbk. (BMRI) corrected 3.79% to Rp5,075. Similarly, PT Japfa Comfeed Indonesia Tbk. (JPFA) weakened by 3.13% to Rp2,480, and PT Mayora Indah Tbk. (MYOR) fell 2.62% to Rp2,230.
Rupiah Exchange Rate against the US Dollar Today, Thursday, February 19, 2026
The market downturn also impacted PT Barito Pacific Tbk. (BRPT), which saw a correction of 2.33% to Rp2,100. Additionally, PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) softened by 1.57% to Rp3,770, and PT Astra International Tbk. (ASII) declined 1.49% to Rp6,600.
Three stocks that exhibited stagnant movement during the trading session were PT Dharma Satya Nusantara Tbk. (DSNG), PT Vale Indonesia Tbk. (INCO), and PT Kalbe Farma Tbk. (KLBF).
Earlier, the Jakarta Composite Index (IHSG) was projected to continue its upward momentum, challenging the resistance level of 8,360. This optimistic outlook was fueled by positive global market sentiment and market expectations surrounding the outcome of Bank Indonesia’s (BI) Board of Governors’ Meeting (RDG).
Sinarmas Sekuritas’ research team indicated that technically, the nearest support level for the IHSG stood between 8,227 and 8,170, with dynamic support anticipated to cushion any downward pressure. “On Thursday [February 19, 2026], the IHSG has the potential to test resistance at 8,360, with the next resistance at 8,408,” the research note stated.
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Meanwhile, market participants continued to digest the Federal Open Market Committee (FOMC) minutes from the U.S. Federal Reserve, which revealed diverse perspectives among officials. Some U.S. central bank officials suggested the possibility of further interest rate hikes, emphasizing their dependence on incoming inflation and labor market data.
Conversely, other officials were still considering options for interest rate cuts should inflationary pressures subside. This uncertainty regarding the direction of U.S. monetary policy led global investors to adopt a selective approach, though a ‘risk-on’ sentiment remained evident in recent trading.
From Asia, positive sentiment emerged from Japan following a significant narrowing of its trade deficit in January 2026. The deficit shrank to 1.15 trillion yen from 2.74 trillion yen recorded in the same period last year.
Domestically, attention was squarely focused on the results of Bank Indonesia’s RDG, which will dictate the direction of the benchmark interest rate. This decision is deemed crucial for maintaining exchange rate stability and attracting foreign capital flows amidst dynamic global conditions.
Concurrently, Indonesia’s foreign debt (ULN) position in the fourth quarter of 2025 notably increased by approximately US$4.1 billion, reaching US$431.7 billion. This rise was primarily driven by an increase in public sector debt. The market continues to monitor this increase in ULN to assess its potential impact on Indonesia’s external stability.
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