IHSG Weakens to 7,362 at Close as US–Iran War Signals Continue to Pressure Market
Indonesia’s composite stock index (IHSG) traded in negative territory after fluctuating throughout the session, closing down 0.37 per cent or 27.28 points at 7,362.11 on Thursday, 12 March 2026.
Transaction value reached Rp 13.39 trillion whilst trading volume hit Rp 24.34 million across 1.54 million transactions.
The cyclical consumer sector experienced the steepest decline of 2.04 per cent. The raw materials sector also suffered a correction of 1.44 per cent, whilst the property sector lost 1.38 per cent.
In contrast, the transportation sector led gains with a 1.26 per cent rise. Technology stocks advanced 0.91 per cent and the financial sector edged up marginally by 0.03 per cent.
Phintraco Securities analysts attributed negative sentiment partly to the ongoing US–Iran conflict, which has driven crude oil prices higher once again. Reports of attacks on several tanker vessels in the Middle East on Thursday, 12 March 2026 boosted crude oil prices.
The reports emerged shortly after the International Energy Agency announced the largest release of crude oil reserves in its history. This move reflected the absence of de-escalation signals in the Persian Gulf, keeping crude oil prices elevated as disruptions to oil flows through the Strait of Hormuz persisted.
“The rise in crude oil prices heightens anxiety over potential inflation, the widening of the government budget deficit, and potential deficits in the oil and gas trade balance,” Phintraco Securities analysts said in their daily research.
The IEA’s decision was viewed as signalling a high risk of global oil supply disruptions. The situation indicated that the international body does not believe this conflict will end soon.
“Given the continued high uncertainty over when this war will end, risks of its impact on inflation increases and global economic slowdown are escalating,” the Phintraco Securities team added.
On technical grounds, Phintraco Securities analysts forecast the IHSG would likely continue trading sideways ahead of the long weekend.
Despite the IHSG’s weakness, several listed companies posted significant gains amongst the 45 blue-chip stocks (LQ45).