Stock Markets March 6, 2026

Jakarta Stocks Retreat as IDX Composite Drops 1.86% to Six-Month Low

Weakness in infrastructure, financials and agriculture drags benchmark lower; mixed showings among small-cap names

By Priya Menon
Jakarta Stocks Retreat as IDX Composite Drops 1.86% to Six-Month Low

Indonesia's equity market closed lower on Friday, with the IDX Composite Index sliding 1.86% to a fresh six-month low. Losses were concentrated in Infrastructure, Financials and Agriculture, while several small-cap stocks recorded large percentage swings in both directions. Market breadth was heavily negative as decliners outnumbered advancers by a wide margin.

Key Points

  • The IDX Composite Index closed down 1.86% and reached a new six-month low, driven by losses in Infrastructure, Financials and Agriculture.
  • Small-cap movers were pronounced: ENZO, SKBM and ALKA posted gains above 24%, while FILM, KOTA and RODA each fell about 14.86% to 15.00%.
  • Market breadth was weak with 628 decliners, 141 advancers and 89 unchanged, indicating broad selling pressure across the exchange.

Indonesia stocks closed lower on Friday as selling pressure in Infrastructure, Financials and Agriculture drove the benchmark down. At the Jakarta close, the IDX Composite Index fell 1.86% and registered a new six-month low.

The session's strongest performers on the IDX Composite Index were largely small-cap names. Morenzo Abadi Perkasa Tbk Pt (JK:ENZO) led gains, rising 30.77% or 28.00 points to finish at 119.00. Sekar Bumi Tbk (JK:SKBM) added 24.65% or 175.00 points to end the session at 885.00, and Alakasa Industrindo Tbk (JK:ALKA) climbed 24.53% or 130.00 points to 660.00 in late trade.

On the downside, MD Pictures Tbk PT (JK:FILM) was the weakest listed security, sliding 15.00% or 780.00 points to close at 4,420.00. DMS Propertindo Tbk PT (JK:KOTA) declined 14.86% or 11.00 points to finish at 63.00, while Pikko Land Development Tbk (JK:RODA) dropped 14.86% or 11.00 points to 63.00.

Market breadth on the Jakarta Stock Exchange was skewed toward declines, with falling stocks outnumbering advancing ones by 628 to 141; 89 issues ended unchanged.

Notably, shares of Morenzo Abadi Perkasa Tbk Pt (JK:ENZO) rose to multi-year highs, gaining 30.77% or 28.00 to finish at 119.00, a five-year peak for the stock.

Commodity and currency markets showed modest moves during the session. Crude oil for April delivery rose 0.83% or 0.67 to $81.68 a barrel, while Brent oil for May delivery increased 0.70% or 0.60 to $86.01 a barrel. The April Gold Futures contract advanced 0.58% or 29.36 to trade at $5,108.06 a troy ounce.

In currency trading, USD/IDR was up 0.43% at 16,947.60 and AUD/IDR rose 0.53% to 11,886.75. The US Dollar Index Futures eased 0.28% to 99.03 by the close.


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Risks

  • Continued sector-specific weakness in Infrastructure, Financials and Agriculture could prolong downside pressure on the IDX Composite - impacting companies in those sectors.
  • Concentrated declines among a large number of listings (628 losers) signal heightened market risk and potential volatility for equity investors.
  • Currency and commodity moves - including a firmer USD/IDR and fluctuations in oil and gold prices - may add uncertainty to earnings and cash-flow dynamics for import-dependent and commodity-linked firms.

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