IHSG Collapses to 7,022 at Start of Week as Investors Monitor Global Oil Price Surge Threatening Indonesia's State Budget
Indonesia’s Composite Stock Index (IHSG) collapsed at the start of the week’s trading on Monday, 16 March 2026. The IHSG weakened by 1.61 per cent, or 114.92 points, to the level of 7,022.29.
Based on VIVA monitoring through Stockbit, the IHSG experienced a sharp correction from the start of the session, with the index plummeting to touch the 6.95 area. Thereafter, the IHSG began to recover, balanced by declines in the 7,000 to 7,022 range.
The technology sector was hit hardest, declining 2.34 per cent, followed by property sector losses of 2.28 per cent and energy sector losses of 2.24 per cent. The raw materials sector weakened by 1.82 per cent, the transportation sector fell 1.57 per cent, the infrastructure sector declined 0.63 per cent, the cyclical consumer sector fell 0.16 per cent and the cyclical sector fell 0.03 per cent.
Conversely, the financial sector recorded a significant increase of 0.45 per cent. The industrial and healthcare sectors also performed well, strengthening by 0.21 per cent and 0.13 per cent respectively.
Analysts at Phintraco Securities noted that concerns about the impact of rising crude oil prices on inflation, the potential widening of the state budget deficit and the continued depreciation of the rupiah, along with market concerns regarding potential domestic economic slowdown, became negative factors affecting IHSG movements.
“Additionally, ahead of the extended holiday period, investors tend to adopt a cautious stance,” continued the Phintraco Securities Analyst Team in their daily research report on Monday, 16 March 2026.
President Prabowo Subianto emphasised that the option to loosen the state budget deficit was a last resort. He reiterated his commitment to fiscal discipline, stating that the principal tenet of his administration was to ensure that the Indonesian nation lived within its means.
From a global perspective, the United States reference crude oil price, West Texas Intermediate (WTI), strengthened to the level of USD 100 per barrel on this day. The increase was driven by statements from Donald Trump threatening military strikes against Iran’s Kharg Island.
Trump also stated that his planned visit to China at the end of this month could be postponed. The United States, according to Trump, was seeking to pressure China to assist in reopening the Strait of Hormuz.
“Meanwhile, from a technical perspective, the IHSG is expected to move in the range of 6,900–7,150,” continued the Phintraco Securities Analyst Team.
In this research, Phintraco Securities also reported that three issuers successfully recorded the highest gains among the 45 leading stocks. The following is the list of top gainers in the LQ45 category: Charoen Pokphand Indonesia Tbk (CPIN)