The Composite Stock Price Index (IHSG) opened up 0.32% at 8,705 on Thursday, December 18, 2025, following Bank Indonesia's (BI) decision to hold the benchmark rate at 4.75%. Analysts predict consolidation today, though the medium-term trend remains upward.
On the opening of trading Thursday, December 18, 2025, the IHSG rose 27 points or 0.32% to 8,705, after closing down 0.11% at 8,677.34 the previous Wednesday. The Bank Indonesia (BI) Board of Governors Meeting (RDG) on December 16-17, 2025, held the BI Rate at 4.75%, Deposit Facility rate at 3.75%, and Lending Facility at 5.50%. This move aims to maintain rupiah exchange rate stability, strengthen monetary policy transmission, and support economic growth.
Phintraco Sekuritas Research Team predicts the IHSG will consolidate today in the 8,600-8,750 range, as long as it closes below 8,750. "The IHSG today is expected to still consolidate," stated the research team. Nevertheless, the IHSG remains in an uptrend in the medium-to-long term, though tending toward short-term consolidation.
BI leaves room for future rate cuts while monitoring inflation and economic growth. Credit growth accelerated to 7.74% year-on-year (yoy) in November 2025, from 7.36% in October, the fastest since June 2025. However, undisbursed loans remain high at Rp 2,509.4 trillion or 23.18% of approved credit. The 125 bps BI Rate cut this year has only led to a 24 bps drop in bank lending rates to 8.96% in November.
Binaartha Sekuritas analyst Ivan Rosanova noted the IHSG consolidated below the 8,742 resistance yesterday, a strong level. "The upward trend continuation toward 8,877 can only occur if the IHSG breaks above 8,742," he said. Supports are at 8,493, 8,361, and 8,255, while resistances are at 8,742, 8,877, and 8,941. He also recommends stocks like ADRO (hold, target 1,865), AMRT (buy on weakness 1,840-1,870, target 1,950), BMRI (accumulative buy 4,600-4,700, target 5,125), CPIN (buy 4,350-4,400, target 4,700), and INDF (buy 6,300-6,400, target 7,150).
