Flooring Guide by Cinvex – , JAKARTA — The Indonesian Composite Stock Price Index (IHSG) closed the first trading session on Monday, March 9, 2026, at 7,318, marking a significant weakening compared to its previous close.
This index downturn dragged down shares of large-cap banking institutions, as global sentiment intensified. Factors contributing to this pressure ranged from the repercussions of US-Israel attacks on Iran, which triggered a surge in global oil prices, to the weakening of the Indonesian rupiah.
Indeed, the rupiah’s exchange rate recorded a notable depreciation, touching approximately Rp17,000 per US dollar during today’s trading. This negative sentiment exerted substantial pressure on the banking sector’s shares, a sector that carries considerable weight in the overall index movement.
Among the banking giants, shares of PT Bank Central Asia Tbk. (BBCA) fell by 100 points, or 1.43%, closing the first session at Rp6,900 per share. Throughout the trading period, BBCA shares fluctuated between Rp6,825 and Rp6,950. As Indonesia’s largest private bank, BBCA commands a market capitalization of approximately Rp839.04 trillion, with a price-to-earnings (P/E) ratio hovering around 14.78 times.
Bank Central Asia Tbk. – TradingView
Similarly, PT Bank Mandiri (Persero) Tbk. (BMRI) shares experienced a decline of 160 points, or 3.21%, reaching Rp4,820 per share, with its trading range set between Rp4,780 and Rp4,870. BMRI currently holds a market capitalization of roughly Rp445.37 trillion, and its P/E ratio stands at approximately 7.99 times.
Following suit, PT Bank Negara Indonesia (Persero) Tbk. (BBNI) shares weakened by 80 points, or 1.87%, to Rp4,190 per share. Its movement spanned a range from Rp4,130 to Rp4,250. BBNI’s market capitalization is recorded at around Rp154.71 trillion, with a P/E valuation of approximately 7.78 times.
PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) shares also underwent a correction, dropping 90 points, or 2.45%, to Rp3,580 per share by the end of the first session. Its shares traded within a range of Rp3,560 to Rp3,630.
This bank, known for its strong focus on financing Micro, Small, and Medium Enterprises (MSMEs), boasts a market capitalization of approximately Rp537.16 trillion, with a price-to-earnings (P/E) ratio of about 9.52 times.
Bank Rakyat Indonesia (Persero) Tbk. – TradingView
Beyond these major banks, several other banking stocks also faced declines. Shares of PT Bank CIMB Niaga Tbk. (BNGA) dropped by 25 points, or 1.41%, to Rp1,745 per share. This issuer’s market capitalization stands at roughly Rp43.43 trillion, with a P/E ratio of approximately 6.38 times.
PT Bank Syariah Indonesia Tbk. (BRIS) shares saw a weakening of 50 points, or 2.24%, to Rp2,180 per share. BRIS is reported to have a market value of about Rp99.10 trillion, alongside a P/E ratio of approximately 13.29 times.
Meanwhile, PT Bank Permata Tbk. (BNLI) recorded the steepest decline among the other banks, plunging by 150 points, or 4.17%, to Rp3,450 per share. BNLI’s market capitalization is around Rp123.91 trillion, with a P/E ratio of approximately 12.66 times.
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In the digital banking segment, PT Bank Jago Tbk. (ARTO) shares fell by 45 points, or 3.26%, to Rp1,335 per share. This issuer’s market capitalization is estimated at around Rp18.47 trillion, with a P/E ratio of approximately 119.83 times.
Concurrently, PT Super Bank Indonesia Tbk. (SUPA) shares weakened by 25 points, or 2.86%, reaching Rp850 per share, with a market capitalization of around Rp9.45 trillion.
The widespread pressure on these banking stocks significantly weighed on the IHSG’s overall movement, underscoring the financial sector’s substantial influence on the index. The performance of major banks like BBCA, BMRI, BBNI, and BBRI often serves as a key indicator for the IHSG’s direction in the domestic stock market.
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