The Jakarta Composite Index (IHSG) experienced a notable rebound during the first trading session on Thursday, March 12, 2026. The index saw a significant uplift, buoyed by strong performances from several major conglomerate-affiliated stocks, including those of INDF, MSIN, and AADI, which gained momentum within the initial three hours of trading.
According to data from the Indonesia Stock Exchange (BEI), the IHSG concluded its first session with a robust gain of 0.53%, reaching a closing position of 7,428.78. Throughout the day, the benchmark index fluctuated between 7,323.74 and 7,434.66, demonstrating a solid recovery after an initial dip at the open.
Indeed, a number of conglomerate stocks demonstrated impressive strength in today’s trading. Shares associated with Anthoni Salim, for instance, saw significant appreciation: PT Indofood CBP Sukses Makmur Tbk. (ICBP) climbed 3.45% to Rp7,500, PT Indofood Sukses Makmur Tbk. (INDF) rose 0.41% to Rp6,050, PT PP London Sumatra Indonesia Tbk. (LSIP) advanced 2.75% to Rp1,310, and PT Salim Ivomas Pratama Tbk. (SIMP) gained 2.56% to Rp600.
Similarly, stocks linked to Hary Tanoe also posted positive results. PT MNC Energy Investments Tbk. (IATA) increased by 4.48% to Rp70, PT MNC Tourism Indonesia Tbk. (KPIG) edged up 1.96% to Rp104, PT MNC Digital Entertainment Tbk. (MSIN) surged an impressive 12.14% to Rp545, and PT Tripar Multivision Plus Tbk. (RAAM) saw a 0.58% rise to Rp174.
The portfolio of Boy Thohir’s companies also performed strongly, with PT Adaro Andalan Indonesia Tbk. (AADI) jumping 6.23% to Rp10,225, PT Alamtri Minerals Indonesia Tbk. (ADMR) increasing by 2.42% to Rp1,905, PT Alamtri Resources Indonesia Tbk. (ADRO) advancing 5.96% to Rp2,490, and PT ESSA Industries Indonesia Tbk. (ESSA) rising 4.86% to Rp755.
However, the positive momentum was not universal across all conglomerate stocks. Several saw corrections, notably those affiliated with Happy Hapsoro: PT Bukit Uluwatu Villa Tbk. (BUVA) declined 3.27% to Rp1,035, PT Sanurhasta Mitra Tbk. (MINA) fell 3.55% to Rp272, PT Rukun Raharja Tbk. (RAJA) dropped 1.38% to Rp3,560, and PT Raharja Energi Cepu Tbk. (RATU) decreased 3.23% to Rp5,250.
Stocks linked to Aburizal Bakrie also faced downward pressure. PT Bumi Resources Minerals Tbk. (BRMS) weakened by 1.19% to Rp830, PT Darma Henwa Tbk. (DEWA) slipped 2.34% to Rp418, PT Bakrieland Development Tbk. (ELTY) retreated 4.55% to Rp42, and PT Bakrie Sumatera Plantations Tbk. (UNSP) suffered an 8.28% loss to Rp266.
Looking ahead, the IHSG is anticipated to potentially experience a correction today, following its previous closing session where it weakened by 0.69% to the 7,300 level. This negative sentiment primarily stems from the volatile fluctuations in energy commodity prices, a direct consequence of the escalating conflict in the Middle East.
Fanny Suherman, Head of Retail Research at BNI Sekuritas, elaborated that the IHSG was pressured yesterday by significant net selling from foreign investors, amounting to approximately Rp730 billion. This sell-off heavily targeted several big-cap stocks, including BBCA, BBRI, and commodity-related shares such as BUMI, DEWA, and TINS.
“The IHSG has the potential to continue its correction today, with a support range between 7,180 and 7,300, and resistance levels at 7,450 to 7,500,” Fanny stated in her daily research publication on Thursday, March 12, 2026.
Meanwhile, she highlighted that global markets are currently gripped by apprehension over the prospect of an open conflict between the United States and Iran. On Wednesday, Wall Street largely closed in the red after reports emerged of U.S. forces sinking an Iranian vessel in the Strait of Hormuz, in response to alleged attempts to lay mines in the strategically vital shipping lane.
This alarming escalation has triggered a sharp rise in crude oil prices. West Texas Intermediate (WTI) surged over 4% to US$87.25 per barrel, while Brent Crude climbed 4.8% to US$91.98 per barrel. This jump occurred despite the International Energy Agency (IEA) announcing plans to release 400 million barrels from its emergency reserves. In contrast, Asia-Pacific bourses displayed mixed performance, with Japan’s Nikkei 225 and South Korea’s Kospi strengthening, while Hong Kong’s Hang Seng index faced downward pressure.
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