Indonesia’s IHSG Fluctuates Amid Global Concerns and Strong Banking Performance
Jakarta – The Jakarta Composite Index (IHSG) experienced a mixed trading day on Thursday, March 12, 2026, closing down 0.37% at 7,362.12. While global geopolitical tensions weighed on market sentiment, strong performance from key banking stocks and positive foreign inflows provided some support.
Market Overview
The IHSG’s decline was influenced by several factors, including concerns over potential disruptions to global energy supplies following threats to oil tankers in the Strait of Hormuz. This led to a significant jump in Brent oil prices, reaching US$101.60 per barrel, a 10.40% increase. Globally, US stock markets also ended in negative territory: the Dow Jones fell 1.56% to 46,677, the S&P 500 weakened 1.52% to 6,672, and the Nasdaq corrected 1.78% to 22,311.
Despite the broader market downturn, several Indonesian banking stocks demonstrated resilience. Shares of Bank Central Asia (BBCA), Bank Mandiri (BMRI), and Bank Rakyat Indonesia (BBRI) were key supports, attracting significant net inflows from both domestic and foreign investors.
Sector Performance
Sectorally, eight of eleven sectors closed lower. The cyclical sector experienced the steepest decline, falling 2.04%. Conversely, the transportation sector showed the strongest gains, rising 1.26%.
Banking Sector Highlights
Bank Jago (ARTO) reported a substantial increase in net profit after tax, rising 115% to IDR 276 billion in 2025, compared to IDR 129 billion in the previous year. This growth was driven by a 38% expansion in credit distribution, reaching IDR 24.30 trillion. The bank also saw a 38% increase in third-party funds, reaching IDR 25.90 trillion. Bank Jago’s gross non-performing loan (NPL) ratio remained healthy at 0.6%, and its customer base grew to approximately 18.2 million.
Bank Central Asia (BBCA) announced a cash dividend distribution of IDR 41.3 trillion for the 2025 financial year, equivalent to IDR 336 per share. This represents a 72% dividend payout ratio, with the remaining earnings retained to strengthen capital. BBCA also plans to distribute interim dividends quarterly, starting in the 2026 financial year. As of March 13, 2026, BBCA’s share price is being monitored for potential gains towards the IDR 6,675 level.
Foreign Investment Flows
Despite global uncertainties, foreign investors demonstrated a positive sentiment towards the Indonesian market, with a net purchase value of approximately IDR 905.27 billion in the regular market, and around IDR 1 trillion across all markets.
Disclaimer
Investment decisions should be based on individual risk profiles and financial goals. This article provides informative analysis and is not an invitation to buy or sell specific stocks.