IDX Composite Suddenly Drops by Over 1%, Here Are the Causes

The Indonesia Composite Index (IHSG) came under pressure again during trading on Tuesday (22/09/2026). The IHSG plummeted by more than 1% during the first session, after having initially opened in positive territory.

According to data from the Indonesia Stock Exchange at approximately 10:45 WIB, the IHSG dropped by 84.62 points or 1.33% to the level of 6,300.11. This occurred despite the index having opened in the green zone at 6,392.34.

Pressure on the IHSG was widespread, reflected by the majority of stock sectors being in the red. The energy sector saw the deepest decline, reaching -1.99%, followed by the utilities sector at -1.77%, property at -1.72%, non-primary consumer goods at -1.52%, basic materials at -1.33%, industrials at -1.18%, primary consumer goods at -0.87%, financials at -0.84%, and healthcare at -0.72%.

The pressure was intensified as several large-cap stocks acted as the primary drags on the index. PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) was the largest contributor to the decline, reducing the IHSG by 14.6 points. This was followed by PT Bayan Resources Tbk (BYAN), which reduced the index by 7.74 points.

PT Bumi Resources Minerals Tbk (BRMS) also weighed on the IHSG by 2.98 points, followed by PT Telkom Indonesia (Pers cáo) Tbk (TLKM) by 2.77 points and PT Bank Mandiri (Persero) Tbk (BMRI) by 2.45 points. Furthermore, PT Bank Central Asia Tbk (BBCA) exerted pressure of 2.21 points, the same as PT Bumi Resources Tbk (BUMI), which also reduced the IHSG by 2.21 points. PT Dian Swastatika Sentosa Tbk (DSSA) and PT Impack Pratama Industri Tbk (IMPC) exerted pressure of 2.15 points and 2.11 points respectively, while PT Bank Negara Indonesia (Persero) Tbk (BBNI) reduced the IHSG by 1.98 points.

Amidst this pressure, several stocks still moved positively. PT Amman Mineral Internasional Tbk (AMMN) was the largest positive contributor to the IHSG, adding 2.11 points, followed by PT Medco Energi Internasional Tbk (MEDC) by 0.38 points and PT Indosat Tbk (ISAT) by 0.36 points.

Overall, market conditions showed fairly even selling pressure. IDX Mobile data recorded 137 stocks gaining, 546 stocks declining, and 280 stocks remaining stagnant.

Today’s IHSG weakness continues the downward trend seen in previous trading. On Monday (21/09), the IHSG closed down 0.88% at 6,384.72.

In addition to domestic factors, the market is also closely monitoring global uncertainty. Previously, oil prices and geopolitical tensions in the Middle East have been sources of concern for investors, as they have the potential to increase inflationary pressure and affect interest rate expectations.

The decline in the IHSG occurred while sentiment in Asian stock markets was relatively positive. Morning data showed the South Korean KOSPI up 1.84%, Nikkei 225 up 1.38%, Taiwan up 0.84%, Malaysia up 0.69%, Shenzhen up 0.62%, Thailand’s SET up 0.56%, and Singapore’s STI up 0.44%. Meanwhile, the Hang Seng in Hong Kong rose 0.42% and the Shanghai Composite rose 0.22%, while India’s Nifty 50 remained stagnant.

Domestically, Bank Indonesia (BI) has begun its two-day Board of Governors Meeting. The decision regarding the benchmark interest rate, or BI Rate, is scheduled to be announced on Wednesday (23/09/2026). This announcement will be the first for Destry Damayanti since being inaugurated 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 meeting, BI maintained the benchmark rate at 5.75%.