IHSG Today 17 September 2026: Closes Stronger at 6,462
The Indonesia Composite Index (IHSG) on the Indonesia Stock Exchange (IDX) closed stronger in Thursday (17/9) afternoon trading. The index movement occurred amidst market anticipation regarding Bank Indonesia’s (BI) monetary policy steps following the interest rate hike by the United States (US) central bank.
The IHSG closed up 25.58 points or 0.40% to the 6,462.43 position. In line with the main index, the blue-chip group of 45 stocks, known as the LQ45 index, also strengthened by 1.42 points or 0.22% to the 648.38 position.
Maximilianus Nico Demus, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, explained that this strengthening occurred while the market is scrutinising the pressure faced by Bank Indonesia due to the hawkish policy of the US central bank, the Fed.
“The Fed’s interest rate hike puts pressure on Bank Indonesia (BI), so the market is awaiting BI’s next monetary policy steps,” Nico stated in his analysis in Jakarta on Thursday.
Nico assessed that BI is currently facing a significant challenge in maintaining a balance between stability and economic growth (pro-stability and pro-growth). On one hand, BI must ensure that foreign capital flows do not exit massively (capital outflow), but on the other hand, it must continue to support domestic growth momentum.
The market is now focused on the Bank Indonesia Board of Governors Meeting (RDG) scheduled for 22-23 September 2026 to observe the domestic interest rate policy response.
From an external perspective, the Fed has raised its benchmark interest rate by 25 basis points (bps) to the 3.75-4.00 per cent level. This is the first increase since 2023. Fed Chair Kevin Warsh has signalled that inflation remains too high, opening the door for further rate hikes until the end of 2026.
Nevertheless, there is positive sentiment from the correction in global oil prices. According to Nico, the decline in oil prices provides space for the State Budget (APBN) to avoid a drastic increase in subsidy budgets. This also minimises the risk of implementing unpopular policies, such as raising subsidised fuel prices during the current period.
Market participants are expected to remain vigilant against high volatility ahead of the announcement of the BI Board of Governors Meeting next week, given that the high interest rate indicator at the global level is predicted to persist for a longer period (higher for longer).