Analyst Reveals Sentiment Behind IHSG Weakness

Jakarta — Research Analyst Infovesta Kapital Advisori Arjun Ajnawi has disclosed a range of sentiments triggering the decline of the Jakarta Composite Index (IHSG) in today’s trading, Thursday (21/05).

The IHSG was down 218.36 points or 3.46 percent to 6,100.14 as of 14:00 WIB. Meanwhile, the LQ45 index, representing the 45 leading stocks, fell 13.78 points or 2.18 percent to 616.90.

Arjun explained first that domestic negative sentiment persists as market participants have priced in an outcome outside expectations by Bank Indonesia (BI), which raised the BI-Rate by 50 basis points to 5.25 percent.

“While the market is only pricing in a 25 basis point increase,” Arjun said when contacted in Jakarta on Thursday.

He added that the next sentiment is the latest policy related to governance of exports of natural resource commodities (SDA), which requires the export of strategic commodities through a single channel, namely a state-owned enterprise (BUMN), with initial implementation targeted from 1 June to 31 August 2026.

“That also overhauls the export processes of various key industries, particularly in commodities (palm oil, coal, etc.). That clearly creates market volatility,” Arjun said.

For information, the IHSG was down 218.36 points or 3.46 percent to 6,100.14 at 14:00 WIB. Meanwhile, the LQ45 index fell 13.78 points or 2.18 percent to 616.90.

Trading frequency stood at 1,557,598 transactions with 25.09 billion shares traded, valued at Rp12.16 trillion. A total of 91 shares rose, 652 fell, and 72 were unchanged.

Based on the IDX-IC sector index, all eleven sectors weakened, led by the basic materials sector which fell the most at 6.78 percent, followed by the energy sector and the non-primary consumer goods sector, down 5.90 percent and 4.91 percent respectively.

The biggest winners were SOTS, DIVA, BOBA, KOBX and ALKA, while the largest losers were BUKK, LCKM, KDTN, PIPA, and LAND.