The Indonesia Stock Exchange (BEI) has announced its latest index evaluation, a crucial update that will reshape the landscape of its prominent benchmarks: the LQ45, IDX30, and IDX80. Effective for the period from August 3 to October 30, 2026, these strategic adjustments signal critical shifts for portfolio managers and investors alike, reflecting the dynamic pulse of the Indonesian equity market. This rebalancing act, detailed in BEI’s official announcement here, demands close attention as it influences passive and active investment strategies across the board.
Unpacking BEI’s Q3 2026 Index Rebalancing
Index rebalancing is akin to a professional sports team’s roster shuffle, where underperforming players are benched or traded, and rising stars are brought into the spotlight. For the stock market, this means a re-evaluation of listed companies based on criteria such as liquidity, market capitalization, and financial performance. These changes have profound implications for ETFs, mutual funds, and institutional portfolios tracking these indices.
LQ45: Blue-Chip Power Play Adjustments
The LQ45 index, representing 45 of the most liquid and largest market capitalization stocks on the BEI, is undergoing a targeted refinement. These adjustments reflect a keen eye on market leaders and their current standing.
- Incoming Stocks:
The inclusion of INDY and NCKL signals an increased prominence of the energy and mining sectors, particularly nickel, within the premier index. This underscores a broader market interest in resource-based companies amidst global commodity trends.
- Outgoing Stocks:
The departure of MEDC and SRTG from the LQ45 indicates a recalibration of their liquidity or market weight relative to the incoming constituents. While still significant players, their index representation will now shift.
IDX30: Tracking High-Impact Movers
The IDX30, a concentrated index of 30 stocks from the LQ45 with the highest liquidity and market capitalization, also sees a strategic overhaul, offering a glimpse into the market’s most impactful performers.
- Incoming Stocks:
- BRPT (Barito Pacific Tbk)
- EMTK (Elang Mahkota Teknologi Tbk)
- MBMA (Merdeka Battery Materials Tbk)
- PTRO (Petrosea Tbk)
The entry of these diverse entities, particularly BRPT (chemicals), EMTK (media/tech), and MBMA (battery materials), showcases a broadening of sectors deemed crucial to Indonesia’s economic narrative, with a strong emphasis on future-forward industries and resource processing.
- Outgoing Stocks:
- ANTM (Aneka Tambang Tbk)
- GOTO (GoTo Gojek Tokopedia Tbk)
- MDKA (Merdeka Copper Gold Tbk)
- UNTR (United Tractors Tbk)
The exit of significant players like ANTM, GOTO, MDKA, and UNTR from the highly concentrated IDX30 suggests potential shifts in their relative market leadership or liquidity within this elite group. While some are resource-based, GOTO‘s departure may reflect ongoing market recalibrations in the technology sector.
IDX80: Broad Market Barometer Adjustments
The IDX80 provides a wider lens into the Indonesian market, encompassing 80 stocks with good liquidity and strong fundamental performance. Its adjustments often reflect broader market trends and emerging opportunities.
- Incoming Stocks:
- ANTM (Aneka Tambang Tbk)
- BFIN (BFI Finance Indonesia Tbk)
- DOID (Delta Dunia Makmur Tbk)
- GOTO (GoTo Gojek Tokopedia Tbk)
- HMSP (Hanjaya Mandala Sampoerna Tbk)
- INCO (Vale Indonesia Tbk)
- MDKA (Merdeka Copper Gold Tbk)
- SMRA (Summarecon Agung Tbk)
- TINS (Timah Tbk)
- UNTR (United Tractors Tbk)
The substantial influx of ten new constituents into the IDX80, including previous IDX30 members like ANTM, GOTO, MDKA, and UNTR, reflects a broader recognition of their market presence and potentially renewed momentum across a wider swathe of the market. The presence of multiple mining and heavy equipment companies (ANTM, DOID, INCO, MDKA, TINS, UNTR) here further solidifies the commodity boom’s impact on index composition.
- Outgoing Stocks:
- ADRO (Adaro Energy Indonesia Tbk)
- AKRA (AKR Corporindo Tbk)
- CTRA (Ciputra Development Tbk)
- HRUM (Harum Energy Tbk)
- ICBP (Indofood CBP Sukses Makmur Tbk)
- INDF (Indofood Sukses Makmur Tbk)
- INKP (Indah Kiat Pulp & Paper Tbk)
- KLBF (Kalbe Farma Tbk)
- PGAS (Perusahaan Gas Negara Tbk)
- TPIA (Chandra Asri Pacific Tbk)
The substantial list of outgoing stocks from the IDX80, including prominent names from various sectors like energy (ADRO, HRUM, PGAS), consumer goods (ICBP, INDF, KLBF), and basic materials (INKP, TPIA), indicates a dynamic shift in which companies are currently meeting the stringent criteria for this broad market index. Investors tracking these indices must adjust their portfolios to mirror these significant changes.