This positive outlook was not shared across all sectors. Seven sectoral indices ended the day in the red, with the technology, energy and industrial sectors experiencing declines of 2.04 percent, 1.38 percent and 1.28 percent, respectively.

Supporting the Composite index rise were four sectors, with infrastructure leading the way with a 0.82 percent increase. The healthcare and basic materials sectors both strengthened by 0.31 percent, while the primary consumer goods sector increased slightly by 0.02 percent.

The day's top gainers in the LQ45 index included PT Barito Pacific (BRPT), which soared 7.25 percent, followed by PT Harum Energy Tbk (HRUM), which rose 3.14 percent, and PT Amman Mineral Internasional (AMMN), which was up by 2.80 percent.

The top losers were PT Perusahaan Gas Negara (PGAS), which fell sharply by 9.75 percent. PT Bank Jago (ARTO) and PT Bukalapak.com (BUKA) followed closely behind, declining 8.15 percent and 6.06 percent, respectively.

The day's trading volume was a substantial 28.2 billion shares, with a transaction value of Rp 8.7 trillion (US$533.69 million). At the end of Monday’s trading session, 198 stocks had risen, 381 had declined and 205 had remained flat.

According to Pilarmas Investindo Sekuritas, the IDX's strength was bolstered by domestic sentiment. The consumer confidence index (CCI) for May 2024 stood at 125.2, a slight decrease from the previous month's 127.7, but still indicating strong consumer confidence in the economic conditions.

"Although the CCI has decreased, it still shows that consumer confidence in the economic condition is strong. This is reflected in the CCI being at an optimistic level," Pilarmas said on Monday, as quoted by investor.id.

Looking ahead to the rest of the trading week, Indo Premier Sekuritas (IPOT) community lead Angga Septianus anticipated significant data releases from China and the United States, along with nickel sentiment.

Important data to be released this week include Chinese inflation as well as US inflation and the consumer price index (CPI) for May. Other data, such as US interest rates and projections for the US economy and labor market, have also been scheduled for release.

"Investors are likely to adopt a wait-and-see approach. The market tends to be stagnant, especially with the rupiah still in a weak position," Angga said on Monday, as reported by kontan.co.id.

However, if the US economy weakens while China strengthens, this could be positive news for the Asian stock market. As the demand for the dollar gradually decreases and the rupiah strengthens, foreign investment is expected to return to the IDX.