Indonesian Stock Exchange Closes Strong Today, Influenced by Plummeting Global Oil Prices

The Indonesian Composite Index (IHSG) of the Indonesia Stock Exchange (BEI) closed substantially stronger on Tuesday afternoon, 10 March 2026. The movement was driven by a correction in global crude oil prices and domestic economic data that exceeded expectations.

The IHSG closed up 103.54 points or 1.41 per cent to 7,440.91. Meanwhile, the 45 leading stocks index, or LQ45 index, rose 9.37 points or 1.25 per cent to 759.94.

Rarna Lim, Head of Research at Phintraco Securities, explained that the IHSG successfully executed a technical rebound from sharp corrections the previous day. The primary market driver was the collapse in global crude oil prices.

In Tuesday trading at 16:35 WIB, the WTI reference crude oil price was recorded as falling 7.83 per cent to US$87.35 per barrel. Meanwhile, Brent crude fell 7.99 per cent to US$91.05 per barrel.

“The weakening of global oil prices, coupled with the potential end of the conflict between Iran and the United States following President Donald Trump’s statement that military operations against Iran were very complete,” said Rarna in his analysis in Jakarta.

From the domestic side, investor confidence was strengthened by solid retail sales data. Domestic retail sales grew 5.7 per cent year-on-year in January 2026, a significant increase from 3.5 per cent in December 2025. This figure exceeded initial forecasts of 4 per cent year-on-year.

The acceleration in retail sales is expected to continue throughout February and March 2026. This is driven by the momentum of the Lunar New Year, the beginning of Ramadan, and preparations for Eid al-Fitr.

Based on the IDX-IC Sector Index, all 11 sectors strengthened. The raw materials sector recorded the highest gain of 4.85 per cent, followed by the industrial sector at 2.69 per cent and the non-essential consumer goods sector at 2.68 per cent.

Trading frequency was recorded at 2,027,866 share transactions with a total share volume traded reaching 36.27 billion shares valued at Rp19.16 trillion. A total of 534 shares were monitored for gains, 190 shares declined, and 93 shares remained flat.

The strengthening of the IHSG was also in line with the majority of Asian stock exchanges closing in positive territory.

Investors are currently shifting focus to the United States to anticipate the release of February 2026 inflation data. This data will serve as a crucial indicator for the direction of The Federal Reserve’s monetary policy moving forward.