Composite Index Falls 2.65 Percent Yesterday; Is IHSG Set to Weaken Further Today?
Jakarta — Indonesia’s Composite Index (IHSG) is expected to continue weakening during Tuesday trading (3 March 2026), after the index closed down 218.65 points or 2.65 percent at 8,016 in Monday’s session.
Maximilianus Nico Demus, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, estimates that the IHSG has the potential to weaken with support and resistance levels at 7,860–8,150.
“Based on technical analysis, we see the IHSG potentially weakening with support and resistance at 7,860–8,150,” Nico said in his daily analysis.
The IHSG’s decline is attributed to heightened war sentiment that has triggered a surge in global risk. An escalation of conflict in the Middle East is prompting market participants to reduce exposure to risk assets, including stocks in developing countries such as Indonesia.
As a result of this escalation, crude oil prices have surged approximately 10 percent to near $80 per barrel, marking the highest increase in the past four years. Gas prices have also been driven higher due to supply disruptions and halted energy production in Qatar following attacks on its facilities.
“(Oil prices) experienced their highest increase over the past four years, as have gas prices due to disrupted deliveries and halted energy production in Qatar following attacks on its facilities,” Nico explained.
Trump has assured that fighting will continue with full force until all objectives are achieved. He told Iran’s population to seize this moment and reclaim the nation. He also stated that attacks on Iran will continue for four to five weeks until Iran is willing to negotiate with America.
“Moreover, Trump stated that he has three very good options for leading Iran without clarifying what he meant by this statement. The current problem is that Iran is attacking countries that did not participate in America’s attacks,” Nico said.
Nico believes that if the conflict continues, market participants and investors will remain in a wait-and-see posture during the first week. Subsequently, markets are expected to begin accepting the situation and conditions, gradually recovering over time.
Regarding which stocks warrant attention during today’s trading on the Indonesian Stock Exchange, recommendations from two securities firms are as follows: