Flooring Guide by Cinvex – , JAKARTA — The Jakarta Composite Index (IHSG) is expected to remain under significant pressure during Friday’s trading session on May 22, 2026, following a substantial 3.54% plunge to 6,094.91 at the close of trading on Thursday, May 21, 2026.
Research teams at Phintraco Sekuritas anticipate continued volatility for the IHSG, attributing this outlook to a scarcity of positive catalysts coupled with a strong wave of negative domestic and global sentiment. The index could potentially test the critical psychological level of 6,000 if foreign selling pressure and declines in big-cap stocks persist.
“Should the selling pressure continue, the IHSG is projected to test the psychological level of 6,000. The next strong support level is identified at 5,882,” stated the research team on Thursday, May 21, 2026.
During Thursday’s trading, all sectors closed in negative territory, with the energy sector experiencing the steepest decline, plummeting by 6.91%. This significant drop was primarily triggered by a fall in global crude oil prices and a policy from the Minister of Energy and Mineral Resources (ESDM) requiring all oil and gas Cooperation Contract Contractors (KKKS) to surrender a 10% participating interest to local governments.
Furthermore, market participants reacted negatively to the government’s policy regarding Crude Palm Oil (CPO) and coal exports, channeled through PT Danantara Sumberdaya Indonesia. This move has sparked investor concerns about potential shifts in the export mechanisms for these strategic commodities.
The pressure on the IHSG was exacerbated by a hike in the BI Rate, which subsequently weighed down banking stocks and intensified risk-off sentiment within the domestic market. Adding to investor anxiety were margin call issues linked to shares of PT Chandra Asri Pacific Tbk. (TPIA), further dampening market psychology.
In the currency market, the rupiah closed weaker, declining by 0.07% to Rp17,667 per US dollar. This depreciation underscores the ongoing high pressure on domestic assets.
From a technical perspective, analysts note that the IHSG has closed the gap in the 6,092 area. However, this position is still considered vulnerable if selling pressure fails to subside.
Consequently, the IHSG is likely to extend its weakening trend and test the psychological support area of 6,000 in the upcoming trading session. Should this level be breached, the next robust support is expected to be around 5,882.
Investors are strongly advised to closely monitor the rupiah’s movement, foreign capital flows, developments in government policies concerning the commodity sector, and prevailing global sentiment. These factors remain crucial determinants for the IHSG’s short-term direction.
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Summary
The Jakarta Composite Index (IHSG) faces significant downward pressure, following a 3.54% decline that closed the index at 6,094.91. Market analysts attribute this volatility to a combination of negative domestic sentiment, including the government’s new single-window export policy for CPO and coal, and broader global concerns. Furthermore, rising BI rates and falling global oil prices have severely impacted key sectors, particularly energy and banking.
Given the persistent selling pressure and weak rupiah, the index is projected to test the critical psychological support level of 6,000. If this threshold is breached, analysts warn that the IHSG could potentially decline further toward the support level of 5,882. Investors are advised to remain cautious and closely monitor foreign capital flows and evolving government policies that may influence market stability.