Today’s IHSG Update, January 20, 2026 & Index Moving Stocks

In today's Composite Stock Price Index (IHSG) update, January 20, 2026, the main index of the Indonesia Stock Exchange (IDX) opened higher and even set an all-time high (ATH).

However, the index movement still appears to be fluctuating due to external pressures and profit-taking. So, what's the condition of the IHSG today, and which stocks are driving the index and which are actually weighing it down? Read the full review below.

Key Takeaways

• The IHSG today recorded a new ATH at 9,169 before fluctuating.
• Property, infrastructure, and data center stocks were the main drivers of the index.
• Rupiah pressure and global sentiment mean investors need to be wary of volatility.

Composite Stock Price Index (IHSG)

Image Source: Stock News

Composite Stock Price Index (IHSG) is a key indicator reflecting the performance of all stocks listed on the Indonesia Stock Exchange. This index covers hundreds of issuers from various sectors, from banking and commodities to technology and property.

As the number of publicly traded companies increases, the composition of the IHSG continues to evolve. In 2023 alone, the number of stocks included in the index calculation reached over 800 issuers.

Therefore, monitoring the IHSG is not only important for daily traders, but also for long-term investors to read the overall direction of the Indonesian stock market.

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Today’s IHSG Update, January 20, 2026

Image Source: Trading View

Based on today's trading movements, the IHSG showed quite solid performance, although it was not free from pressure.

The IHSG opened higher at 9,156.19, up around 0.24% from the previous close. Shortly after opening, the index hit a new all-time high of 9,169.87, reflecting market optimism at the start of the session.

However, after that, the IHSG tended to fluctuate between the green and red zones. Selling pressure briefly pushed the index down to a daily low of 9,126.84, before stabilizing in the 9,150s until the morning session.

From the trading activity side:

- The recorded transaction value was around IDR 2.68 trillion.

- Trading volume reached 5.36 billion shares.

- Market capitalization is around Rp16,687 trillion.

This data shows that transaction interest is still quite high, although investors appear to be starting to be selective.

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Today's Index Moving Stocks

Several stocks recorded sharp increases and became the driving force behind the IHSG in today's trading.

Here are the top gainers of IHSG shares, which recorded significant strengthening:

1. ZATA (+28.44%): This stock was a star today with a very aggressive price surge. The combination of property and technology sector sentiment made ZATA attract significant buying interest.

2. ARGO (+24,75%): In the infrastructure sector, ARGO recorded a sharp increase in line with optimism regarding medium-term projects and expansion.

3. ELITE (+24.49%): ELITE shares are driven by positive sentiment trend data center from digitalization, which remains a big theme in the stock market.

4. DCII (+4.29%): Although its increase was not as sharp as the others, DCII still made a significant contribution to strengthening the IHSG due to its large weighting.

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Stocks Pressuring the IHSG Today

On the other hand, there are several stocks that actually become a burden on index movements.

The following are the top losers of the IHSG shares, which experienced quite a deep decline, including:

1. RDTX (-11.76%): Textile sector shares have been under significant pressure, driven by concerns about performance and production cost pressures.

2. INOV (-8.94%): Negative sentiment in the technology sector has dragged INOV shares into a correction.

3. INDS (-6,67%): Automotive stocks weakened amid concerns about demand and the industry cycle.

4. IBFN (-5,21%): The property sector is also not completely in the green, with IBFN experiencing selling pressure.

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Factors Influencing the Movement of the IHSG

There are several main factors that influence the movement of the IHSG today:

1. The rupiah exchange rate, which is approaching IDR 17,000 per USD, is causing investor concern.

2. The Bank Indonesia Board of Governors (RDG) Meeting that the market is waiting for.

3. Profit taking action by foreign investors after the IHSG recorded its highest level.

Technically, the IHSG support area is around 9,008, so this level is not an important zone that needs to be paid attention to.

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Conclusion

In today's IHSG update, January 20, 2026, the index managed to set a new record high, although its movement was still fluctuating.

Certain stocks, such as ZATA, ARGO, and ELIT, were the main drivers of the index, while several other stocks actually suppressed the movement.

Therefore, investors need to monitor global sentiment, rupiah movements, and Bank Indonesia policies. Volatility remains potentially high, especially near the close of trading.

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FAQ

What is the IHSG?

IHSG is an index that reflects the performance of all shares listed on the Indonesia Stock Exchange.

Why is the IHSG fluctuating today?

Due to a combination of positive domestic sentiment and external pressures such as the rupiah exchange rate and profit-taking.

Which stocks moved the IHSG the most today?

ZATA, ARGO, ELIT, and DCII were the main driving stocks of the index.

What are the current important support levels for the IHSG?

The nearest support is around 9,008.

Does the IHSG still have the potential to rise?

The potential is still there, but investors need to be wary of volatility and global sentiment.a