IHSG Closes Down 3.27 Per Cent amid Surging Global Oil Prices; Check 3 Top Gainers in LQ45

Indonesia’s Composite Stock Index (IHSG) failed to recover from sharp declines as global oil prices surged amid escalating conflict in the Middle East. The IHSG weakened 3.27 per cent, declining 248.32 points to close at 7,337.37 on Monday, 9 March 2026.

Based on market monitoring, the IHSG plummeted to 7,163 in early trading before gradually recovering after hitting bottom, though movement remained in negative territory throughout the session.

Transaction value reached Rp 23.88 trillion, whilst transaction volume stood at Rp 468.01 million across 2.47 million trades.

The transportation sector suffered the steepest correction of 5.22 per cent, followed by raw materials down 4.59 per cent and cyclical consumer stocks declining 4.54 per cent. The energy sector weakened 4.33 per cent, industrials fell 4.04 per cent, and property stocks retreated 4.57 per cent. Infrastructure dropped 3.75 per cent, non-cyclical consumer stocks weakened 3.50 per cent, healthcare declined 2.74 per cent, technology was down 1.58 per cent, and financial stocks fell 1.34 per cent.

Analysts at Phintraco Securities noted that the closure of the Strait of Hormuz has forced Middle Eastern oil producers to reduce output due to insufficient storage capacity, preventing shipments to customers. Consequently, crude oil prices surged sharply above US$100 per barrel, raising concerns about potential inflation and a slowdown in global economic growth.

Finance ministers from Group of Seven nations are scheduled to discuss the possibility of jointly releasing emergency oil reserves. Strategic reserve drawdowns have been undertaken five times previously, including during Russia’s invasion of Ukraine, supply disruptions in Libya, Hurricane Katrina, and the first Gulf War.

Phintraco Securities reported three companies posting the strongest gains among the 45 most actively traded stocks (LQ45):

PT Indo Tambangraya Megah Tbk (ITMG): shares surged 4.91 per cent, adding 1,325 points to close at 28,300.

PT Adaro Andalan Indonesia Tbk (AADI): shares jumped 1.46 per cent, gaining 150 points to reach 10,450.

PT Bank Negara Indonesia (Persero) Tbk (BBNI): shares recorded a relatively strong gain of 0.47 per cent, adding 20 points to close at 4,290.