IHSG First Session Closes Down 3.49 Per Cent Amid Surging Oil Prices
Jakarta – Indonesia’s composite stock index (IHSG) closed sharply lower in the first trading session on Monday, 9 March 2026. The index finished at 7,321.07, down 264.61 points or 3.49 per cent.
At the opening of trading, the index immediately faced selling pressure. The IHSG opened at 7,374.31, which also marked the highest level of the first session. Following the opening, strong selling activity pushed the index down sharply to touch a low of 7,156.68 before attempting to recover.
Trading activity on the Indonesian Stock Exchange (BEI) was recorded as fairly brisk, with trading volume reaching 31.15 billion shares. Transaction value or turnover amounted to approximately Rp 13.94 trillion with 1,613,698 trading transactions.
In terms of individual stock movements, the majority of listed companies remained in negative territory. Only 63 stocks gained, 717 stocks declined, and 36 stocks moved sideways. Meanwhile, the market capitalisation of the Indonesian Stock Exchange stood at around Rp 13,187 trillion.
This sharp decline occurred amid rising geopolitical tensions in the Middle East, which have resulted in a surge in global oil prices.
Currency and commodity analyst Ibrahim Assuaibi stated that the weakness of the rupiah and IHSG in early week trading was influenced by a combination of external and domestic factors that made market sentiment highly sensitive.
“Regarding the weakening rupiah and IHSG, even the composite stock index has fallen around 5 per cent, with the rupiah moving to Rp 17,000. What is causing the rupiah and IHSG to weaken quite sharply in Monday’s trading? There are several influential factors, both external and internal,” Ibrahim told reporters when contacted.
According to Ibrahim, Iran’s new leadership is known as a figure with fundamentalist views, potentially prolonging geopolitical conflict in the Middle East region. He estimated that the conflict in the region could last for quite some time.
“There has already been a change in leadership in Iran, and as we can see, the new leader is also an Islamic fundamentalist, so it is quite likely that over the next six months the war in the Middle East will continue to proceed,” he explained.
Tensions escalated further following statements from US President Donald Trump indicating the possibility of regime change in Iran. These comments triggered concerns about the potential for wider conflict escalation in the Middle East region.