IDX Composite Suddenly Plummets 0.83% to 6,071 Level, What Happened?
The Indonesia Stock Exchange (IHSG) underwent a sudden deep correction during trading today, Wednesday (30/09/202cap). After an initial jump at the start of the session, the IHSG closed down 0.83%, or 50.56 points, to the level of 6,071.14 at the end of the session.
The index remained volatile with a spread of up to 116 points, recording a daily high of 6,187 and a low of 6,071.
Trading activity remained relatively quiet, with a trading volume of 30.11 billion shares, a total transaction value of approximately Rp 14.01 trillion, and 1.80 million transactions.
The decline in the IHSG today was pressured by the performance of the consumer staples sector, which fell by 2.34%, followed by the technology sector, which dropped by 0.95%, while the energy sector rose by 0.75%.
Stocks weighing down the IHSG performance today included PT GoTo Gojek Tokopedia Tbk (GOTO), PT Telkom Indonesia Tbk (TLKM), and PT Bank Central Asia Tbk (BBCA).
In today’s trading, domestic market participants continue to face various sentiments from both domestic and international sources. While falling oil prices have reduced market pressure, hawkish statements from the Federal Reserve could cause investor anxiety. The global market is also awaiting two important pieces of news from the US today: the PCE inflation data and economic growth data.
Global oil prices weakened on Tuesday (29/09/2026), as the recovery of Middle East oil exports eased supply concerns resulting from the US-Israel conflict with Iran. Brent crude fell 2.6% to US$102.59 per barrel, while WTI dropped 3.5% to US$89.38 per barrel. Despite the correction, Brent is still heading towards a monthly increase of approximately 13%, and WTI by around 4%.
In another sentiment, investors are also highlighting remarks from New York Federal Reserve President John Williams, who stated that the Fed still has time to examine economic data before raising interest rates again. However, one additional hike may be necessary before the end of 2026.
Meanwhile, the Coordinating Minister for Economic Affairs, Airlangga Hartarto, assessed that the weakness in the IHSG and the Rupiah is still a market dynamic that needs to be viewed from a medium-term perspective. The Government, alongside Bank Indonesia, is said to be continuously monitoring exchange rate movements, while short selling transactions have also been reactivated on the Indonesia Stock Exchange since 15 September 2026.