IHSG rises as bargain-hunting returns after index hits a low

As anticipated, the IHSG managed to rebound, driven by positive sentiment from firmer global stock indices, and bargain-hunting activity, although profit-taking was observed in some rallying stocks such as those in the oil and gas sector. Jakarta (ANTARA) – The Jakarta Composite Index (IHSG) of the Indonesia Stock Exchange (BEI) closed higher on Thursday afternoon as investors carried out bargain-hunting (purchasing cheap/discounted stocks) after the index fell to its lowest level on Wednesday (04/03), amid rising tensions in the Middle East. IHSG closed up 133.48 points or 1.76% at 7,710.54. Meanwhile the LQ45 index of 45 leading stocks rose 15.37 points or 1.99% to 787.82. ‘As anticipated, the IHSG managed to rebound, driven by positive sentiment from firmer global stock indices, and bargain-hunting activity, although profit-taking was also observed in some stocks that had rallied, such as those in the oil and gas sector,’ said Ratna Lim, Head of Research at Phintraco Sekuritas, in her Jakarta briefing on Thursday. From domestically, Ratna said market participants will be watching Indonesia’s foreign exchange reserves data for February 2026, which could again decline amid the continuing depreciation of the Rupiah. According to consensus, US nonfarm payrolls data are expected to slow to 59,000 in February 2026, from 130,000 in January 2026. The unemployment rate is expected to stay at 4.3%. Open higher, the IHSG remained in positive territory through the first trading session. In the second session, the IHSG remained in the green zone until the close. Based on the IDX-IC sector index, ten sectors advanced, led by the non-primary consumer goods sector up 3.39%, followed by the industrial sector and the basic materials sector, up 2.66% and 2.29% respectively. The stocks with the largest price gains were RODA, LAND, BIPP, KOTA, and INCF. Those with the largest declines were ELPI, INDS, BBSS, MMLP, and ZATA. Trading frequency reached 2,084,435 transactions with 34.46 billion shares traded valued at Rp17.94 trillion. A total of 597 stocks rose, 125 declined, and 96 were unchanged. Regional Asian stock markets in the late trading session included the Nikkei up 1,032.60 points or 1.90% to 55,278.10, the Shanghai Composite up 26.09 points or 0.64% to 4,108.57, the Hang Seng up 71.85 points or 0.28% to 25,321.40, and the Straits Times up 33.81 points or 0.70% to 4,846.56.