IHSG Closes Weaker at 7,362 as Global Oil Price Surge Weighs on Markets

Indonesia’s Composite Share Price Index (IHSG) on the Indonesia Stock Exchange (IDX) closed in negative territory during Thursday afternoon trading (12 March 2026). The decline followed negative trends across Asian regional markets, triggered by crude oil price volatility stemming from armed conflict involving the United States, Israel, and Iran.

IHSG fell 27.28 points, or 0.37 per cent, to 7,362.12. Meanwhile, the 45 leading blue-chip stocks tracked by the LQ45 index declined 1.06 points, or 0.14 per cent, to 751.19.

Ratna Lim, Head of Research at Phintraco Securities, stated in her analysis that the primary negative sentiment stemmed from uncertainty over when the Middle East conflict would end. The conflict has driven energy commodity prices to levels threatening global economic recovery.

The price increase was triggered by reports of attacks on international tanker vessels in the conflict zone. This occurred shortly after the International Energy Agency (IEA) announced the release of crude oil reserves on a scale unprecedented in history, which the market interpreted as a signal that supply disruption risks remain extremely high.

Ratna Lim stressed that crude oil prices above the US$90 per barrel level heightened concerns about potential domestic inflation and widening budget deficits. Disruption to oil flows through the Strait of Hormuz became a critical factor monitored by market participants.

“Given the continued uncertainty over when this conflict will end, the risk of impacts on inflation increases and global economic slowdown mounting,” Ratna said.

Based on the IDX Sectoral Index (IDX-IC), nine sectors experienced declines. The non-essential consumer goods sector fell most sharply by 1.85 per cent, followed by the property sector (1.18 per cent) and raw materials sector (1.15 per cent). Meanwhile, the transport and logistics sector managed to strengthen by 1.22 per cent amid speculation of rising global distribution costs.

Share trading frequency was recorded at 1,610,561 transactions with a volume of 26.81 billion shares valued at Rp13.38 trillion. A total of 461 stocks declined, whilst only 211 stocks managed to advance.

The IHSG decline aligned with the majority of regional Asian markets also being heavily pressured.

Market participants are expected to remain cautious (wait and see) whilst monitoring geopolitical developments in the Persian Gulf and global inflation data releases in the coming days.