IHSG Remains Volatile: Which Stocks Should Retail Investors Watch?
JAKARTA, KOMPAS.com - The Composite Stock Price Index (IHSG) is projected to move mixed with a tendency towards volatility in trading on Friday (10/4/2026).
Capital market analyst and Founder of Republik Investor, Hendra Wardana, assesses that technically, if the index holds above the psychological level of 7,200–7,250, the opportunity to continue strengthening towards the next resistance area remains open. However, investors need to beware of potential short-term profit-taking actions.
“Technically, as long as the IHSG can hold above the psychological level of 7,200–7,250, the chance to continue strengthening to the next resistance area remains open,” Hendra told Kompas.com on Thursday night (9/4/2026).
The IHSG did strengthen by 28.380 points or 0.39 percent to the level of 7,307.589 at Thursday’s close. He views the index’s strengthening as reflecting the resilience of the domestic market amid still high global pressures.
Although throughout the day it was overshadowed by negative sentiment from global markets, particularly related to the re-escalation of geopolitical tensions in the Middle East. The transaction value reaching Rp 16.30 trillion indicates solid investor activity, with sector rotation becoming the main driver of the index.
Conversely, the financial sector became the main drag on the index with a 1.23 percent decline. Corrections occurred in large banking stocks such as PT Bank Central Asia Tbk (BBCA), PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Negara Indonesia (Persero) Tbk (BBNI), and PT Bank Rakyat Indonesia (Persero) Tbk (BBRI).
Hendra sees this condition as reflecting market concerns over the potential for high interest rates to persist longer (“higher for longer”), in line with increasing global inflation risks due to surges in energy prices.
“This reflects market concerns over the potential for higher interest rates to last longer (”higher for longer”), along with rising global inflation risks due to spikes in energy prices,” he explained.
The rise in oil prices is a crucial factor as it could push global inflation higher, ultimately affecting central bank monetary policies, particularly the Federal Reserve (The Fed). The latest minutes show that some officials of the central bank are still considering interest rate hikes, or at least holding off on rate cuts longer than market expectations.
Global pressures, Hendra continued, are reflected in the majority of Asian exchanges closing in the red, as well as the weakening of regional currencies, including the rupiah at Rp17,090 per US dollar.
“That condition indicates that the risk of capital outflows still looms in the short term, especially if geopolitical uncertainties continue and expectations for global interest rates rise again,” he stated.