JSX Index Today 17 March 2026: Strengthening Awaits Interest Rate Direction

The Indonesia Stock Exchange’s Composite Index (IHSG) opened stronger on Tuesday, 17 March 2026, amid market participants maintaining a wait-and-see stance regarding the direction of central bank interest rate policies, both domestically and globally. The IHSG rose 52.32 points or 0.75% to 7,074.61, whilst the LQ45 Index of blue-chip stocks also strengthened 6.99 points or 0.98% to 720.72.

Head of Research at Phintraco Securities Ratna Lim forecast that the IHSG would move within limited ranges ahead of the extended holiday period, given elevated global uncertainty. “Investors tend to exercise restraint amid uncertainty. The IHSG today is expected to move in the range of 6,900–7,150,” she said.

Externally, market participants’ attention is focused on interest rate decisions from central banks in various countries, including the Federal Reserve, scheduled to announce its latest policy on Wednesday (18/3). This decision is considered important as it represents the initial response of the central bank to the escalation of geopolitical conflict in the Middle East involving the United States, Israel, and Iran.

Additionally, the surge in global oil prices has garnered attention following disruption to energy distribution routes due to the closure of the Strait of Hormuz, which risks dampening global economic growth. Although the United States is attempting to stabilise the market by relaxing several energy supply-related policies, crude oil prices continue to show an upward trend.

Domestically, the market is also monitoring potential impacts of energy price increases on inflation, the rupiah exchange rate, and the government budget deficit. President Prabowo Subianto has reaffirmed the government’s commitment to maintaining fiscal discipline, stating that budget deficit expansion will only occur under emergency conditions. Meanwhile, market participants await the results of Bank Indonesia’s Board of Governors Meeting (RDG), which is expected to maintain the BI Rate at 4.75%.