IDX Closes 1.69% Lower in Red Zone, Here Are the Causes

The Indonesia Composite Index (IHSG) ended in the red during trading on Tuesday, 22 September 2026. Based on trading data, the IHSG was recorded at the 6,277.04 level, dropping 107.68 points or 1.69%.

Although the index initially opened at 6,392.34 and strengthened to a daily high of 6,423.84, it reversed course and continued to decline throughout the session. The IHSG eventually touched a daily low of 6,258.44.

Intraday trading charts showed the index moving within the 6,390-6,420 range at the start of the session. Subsequently, the index experienced a gradual decline to below the 6,300 level. While the IHSG briefly recovered to around 6,330, it corrected again towards the 6,270 area before closing at 6,277.04.

Throughout today’s trading, the IHSG was burdened by 556 declining stocks, while only 148 stocks gained and 259 remained unchanged.

According to Stockbit, total transaction volume reached approximately 32.18 billion, with a transaction value of Rp14.39 trillion and a frequency of around 2.16 million times. In regular trading, transaction volume was recorded at 306.30 million lots, with a value of Rp13.11 trillion. Meanwhile, transactions in the negotiated market totalled 19.18 million lots, valued at Rp863.69 billion, and cash market transactions reached 294 lots, valued at approximately Rp33.48 million.

According to Refinitiv data, the IHSG was weighed down today by the energy sector, which plummeted by 3.9%, followed by declines in the real estate sector (-2%) and the utilities sector (-1.5%).

Stocks that pressured the IHSG included PT Bayan Resources Tbk. (BYAN), followed by PT Bank Rakyat Indonesia (Persio) Tbk. (BBRI), PT Dian Swastatika Sentosa Tbk. (DSSA), PT DCI Indonesia Tbk. (DCII), and PT Bumi Resources Minerals Tbk. (BRMS). Supporting the index against the correction were stocks such as PT Amman Mineral Internasional Tbk. (AMMN), PT Indosat Tbk. (ISAT), PT Petrindo Jaya Kreasi Tbk. (CUAN), PT Olympus Strategic Indonesia Tbk. (NATO), and PT Calculus Global Ventures Tbk. (STAR).

The Indonesian financial market on Tuesday (22/9/2026) is closely watching developments in the Middle East war alongside several domestic agendas. The surge in Wall Street and Bitcoin is expected to provide positive sentiment for the IHSG and the Rupiah.

Bank Indonesia (BI) has commenced its two-day Board of Governors Meeting. Market participants are also processing new Indonesia Stock Exchange (BEI) regulations regarding minimum share price limits and the inauguration of 14 officials from the Ministry of Finance.

Bank Indonesia’s September Board of Governors Meeting (RDG) began on Tuesday (22/9/2026). The meeting will last for two days, with the decision on the benchmark interest rate, or BI Rate, scheduled to be announced on Wednesday (23/9/2026).

This announcement will be the first for Destry Damayanti since her inauguration as the definitive Governor of BI on 2 September. According to market consensus, BI is expected to maintain the BI Rate at 5.75%. The deposit facility and lending facility rates are also expected to remain unchanged at 4.75% and 6.5%, respectively. In the August RDG, BI maintained the benchmark rate at 5.75%.