Oil Prices Rise Again: What Does This Mean for the Jakarta Stock Exchange Today?

Jakarta — The Jakarta Stock Exchange (IHSG) is expected to move consolidatively during trading on Friday, 13 March 2026, following a 0.37 per cent decline to the 7,362.117 level on Thursday.

According to Hendra Wardana, a capital market analyst and founder of Republik Investor, the IHSG’s support level is expected to be around 7,300 with resistance at 7,420. “For subsequent trading, IHSG movements are expected to remain consolidative, moving within the range of support at 7,300 to resistance at 7,420,” Wardana said when contacted by Kompas.com.

Market participants are currently monitoring developments in Middle East geopolitical tensions, which are impacting global crude oil price increases. Should geopolitical tensions ease and global oil prices stabilise, opportunities for the IHSG to continue its rebound remain reasonably open, according to the analyst.

This is also supported by continued foreign fund inflows into the domestic stock market. Reports of vessel attacks in the Strait of Hormuz and waters near Iraq have raised concerns about potential disruptions to global energy supply. This situation has made market participants more cautious, as conflicts in the world’s strategic oil distribution routes could potentially push global inflation higher.

“This situation makes market participants more cautious because conflicts in the world’s strategic oil distribution routes could potentially push global inflation higher and slow down expectations for interest rate cuts by major central banks,” Wardana explained.

Amid these external sentiments, the IHSG is considered relatively stable owing to continued foreign fund inflows, which have recorded net buying of approximately 905 billion rupiah. This demonstrates that global investors still view Indonesian stock market valuations as attractive, particularly large-cap stocks that remain fundamentally solid.

Additionally, the rupiah’s spot market position at around 16,885 per US dollar provides some support to domestic capital market sentiment, despite relatively high global volatility.

Wardana identified several stocks worth monitoring in Friday’s trading. Shares in PT Bank Central Asia Tbk (BBCA) have the potential to continue their technical strengthening with a target around 7,200 rupiah, supported by dividend distribution sentiment.

PT Alamtri Resources Indonesia Tbk (ADRO) shares also show potential for positive movement with a price target at 2,700 rupiah, supported by strong energy commodity prospects.

Meanwhile, PT Surya Citra Media Tbk (SCMA) shares merit consideration for short-term trading with a target around 280 rupiah, given potential improvement in sentiment for the media and domestic consumption sectors.