Prajogo's Shares Jump Unexpectedly, IHSG Narrows Its Correction
Jakarta, CNBC Indonesia — The Jakarta Composite Index (IHSG) closed in the red on trading day Friday (6 March 2026). Nevertheless, the IHSG managed to trim its correction by the end of session 2.
The IHSG fell by 124.85 points or 1.62% to 7,585.69. A total of 581 shares declined, 181 advanced, and 196 were unchanged. Transaction value reached Rp 17.65 trillion, involving 31.17 billion shares in 1.89 million transactions. The market capitalisation was parked at Rp 13,627 trillion.
Throughout the day, the IHSG moved in a range of 7,500.09–7,700.32. The index had fallen as much as 2% several times during the day.
Earlier, the IHSG slumped in tandem with Prajogo Pangestu’s group stocks. Approaching the close, two Prajogo-linked issuers, Chandra Asri Pacific (TPIA) and Barito Renewables Energy (BREN), reversed course and rose 17.67% and 5.82%, respectively.
TPIA became the main pillar for the IHSG with a contribution of 19.71 index points. Likewise, BREN contributed 15.73 index points.
Meanwhile, banking and mining stocks weighed on the IHSG. Bank Rakyat Indonesia (BBRI), Bank Mandiri (BMRI), and Bank Central Asia (BBCA) collectively dragged the IHSG by 33.32 index points.
Mining stocks such as Bayan Resources (BYAN), Bumi Resources Minerals (BRMS), Energi Mega Persada (ENRG), and Amman Mineral (AMMN) also entered the list of the day’s Top 10 Laggards.
In separate developments, Asian markets opened higher after a morning correction. Korea’s Kospi rose 0.02%, Japan’s Nikkei rose 0.62%, and Hong Kong’s Hang Seng rose 1.72%.
Indonesian financial markets remain under heavy pressure. The US–Israel and Iran tensions, rising oil prices, and latest China economic projections are expected to weigh on sentiment today.
Crude oil prices jumped to their highest level since July 2024, as the conflict with Iran disrupts global energy supplies.
Refinitiv data show Brent crude closed at US$84 per barrel, up almost 4%, while WTI closed at US$81.01 per barrel, up 8.5%. These levels are the highest since July 2024 or 2 years and 8 months.
Traffic in tankers through the Strait of Hormuz remains largely halted, while Iran claims to have struck a tanker with missiles.