Global Oil Price Decline Triggers Market Rebound, IHSG Closes in Green for Second Session

JAKARTA — Indonesia’s Composite Stock Index (IHSG) reversed earlier weakness to close in positive territory during the second session of trading on Tuesday, 10 March 2026, buoyed by a sharp correction in global crude oil prices that sparked positive sentiment across global and domestic equity markets.

The IHSG moved into positive territory, rising 82.950 points or approximately 1.13 per cent to 7,420.319 points, according to data from the Indonesia Stock Exchange (BEI).

The index opened at 7,443.046 and experienced considerable volatility during the session. IHSG briefly reached a high of 7,499.824 points before undergoing limited correction and stabilising ahead of market close. The lowest level touched was 7,372.823 points.

The index advance was reflected in broad market strength, with 472 stocks advancing whilst 229 declined and 115 remained unchanged. Trading volume reached 25.54 billion shares with a transaction value of Rp 13.06 trillion across 1.47 million transactions.

This recovery followed Monday’s sharp decline, when IHSG fell 248.318 points or 3.27 per cent to close at 7,337.369, driven by surging oil prices that threatened to widen the state budget deficit and weaken the rupiah.

Ahmad Faris Mu’tashim, Investment Specialist at Korea Investment and Sekuritas Indonesia (KISI), attributed the IHSG recovery to easing crude oil prices following reports that Group of Seven (G7) nations plan to release strategic petroleum reserves if necessary to stabilise global energy supplies.

Brent crude futures declined 4.6 per cent to $88.43 per barrel, whilst West Texas Intermediate (WTI) futures fell 6.19 per cent to $85.27 per barrel, according to CNBC data.

“Crude oil prices have weakened 25 per cent from their recent peak to $89.17 per barrel following G7 plans to release strategic reserves if needed,” Mu’tashim told Kompas.com.