IHSG Slumps 1.22% to 5,373, Ends Four-Day Rally

Indonesia's benchmark IHSG index closed down 66.16 points, or 1.22%, at 5,373.09 on Monday, October 26, 2026. The drop ended a four-day winning streak the index had carried over from last week.

The reversal was sharp. IHSG opened higher at 5,442.30 and touched an intraday high of 5,453.65 early in the session. But selling pressure built up and flipped the index into the red, dragging it down to an intraday low of 5,349.75, a swing of roughly 104 points from the day's high.

Selling Pressure Built Through the Day

The Indonesia Stock Exchange splits daily trading into two sessions, a morning session and an afternoon session. Traders often compare the index level at the first-session close with the final close to gauge whether a trend is strengthening or weakening through the day.

At the first-session close at 12:48 WIB, IHSG was already down 1.00% at 5,384. The pressure did not ease in the afternoon session, pushing the final decline to 1.22% by the close. The pattern suggests selling was spread across the day rather than concentrated in a late-session dump.

All 11 Sectors Closed in the Red

Based on the IDX-IC sector classification, every one of the 11 listed sectors ended lower on the day. IDX-IC is the exchange's official industry classification system, grouping listed companies into 11 sectors ranging from energy and basic materials to infrastructure and technology. A broad-based decline across every sector typically points to macro or external pressure rather than an industry-specific problem.

Infrastructure led the decline, down 2.47%. Energy followed with a 2.36% drop, and technology slipped 2.06%. These three sectors tend to be the most sensitive to borrowing costs, since many of their listed companies carry floating-rate debt or finance long-term projects that require heavy capital.

Trading Volume Stayed Heavy Despite the Pullback

Despite the index decline, trading activity remained elevated. Total transaction value hit Rp15 trillion with 1.81 million trades and 36.96 billion shares changing hands. Of the stocks traded, 520 fell, 161 rose, and 112 stayed flat.

The ratio of decliners to advancers, more than three to one, confirms the selling was broad rather than limited to a handful of names. Heavy volume during a pullback like this often signals active profit-taking after a multi-day rally rather than investors simply sitting on the sidelines.

Top Gainers and Losers

Amid the broad selloff, a few stocks still posted sharp gains. KREN topped the gainers list with a 26.67% jump, followed by ANDI up 25% and TMPO up 19.62%.

On the losing side, GRPM (Garuda Metalindo) was the day's biggest decliner, sinking 9.30%. SOFA followed with an 8.72% drop, and MGLV fell 7.72%. Such extreme moves in individual names often reflect thin liquidity and smaller trading volumes compared to large-cap stocks, rather than a major shift in fundamentals within a single day. Traders chasing these sharp moves should keep in mind that prices can reverse just as quickly as they rallied.

Why Investors Are Staying Cautious Ahead of the Fed

Market participants are staying cautious ahead of the US Federal Reserve's interest rate decision, scheduled for October 29 WIB. That wait-and-see posture is one of the main reasons profit-taking hit the market after four straight days of gains.

The Fed's decision typically affects foreign capital flows into emerging markets like Indonesia. If the central bank signals it will keep rates higher for longer, foreign funds tend to pull out of emerging-market equities and move into dollar-denominated assets seen as safer. Beyond the Fed, geopolitical dynamics and swings in global energy prices also weighed on Asian markets, which closed mixed on the day.

What It Means for Investors

The intraday low of 5,349.75 could serve as a near-term support level to watch in upcoming sessions. Meanwhile, the intraday high of 5,453.65 shows buying interest still existed at higher levels before the sell-off took hold and reversed the index's direction.

A few things worth tracking in the coming days:

• The 5,349.75 support level and the 5,453.65 resistance level nearby.
• The Fed's rate decision on October 29 WIB and the market's reaction afterward.
• Moves in the infrastructure and energy sectors, which already led today's decline and are among the most rate-sensitive on the exchange.
• Trading volume on today's top gainers and losers before drawing conclusions from a single day's price action.

For stocks with extreme single-day moves such as GRPM, SOFA, MGLV, KREN, ANDI, and TMPO, check trading volume first before reading too much into the price swing. Sharp one-day moves in thinly traded names tend to be more volatile and can reverse quickly once buying or selling interest fades.

What caused today's IHSG decline?

Investor caution ahead of the Fed's rate decision on October 29, combined with geopolitical sentiment and swings in global energy prices.

Did the decline hit every stock?

Not every stock, but most. 520 stocks fell against 161 that rose, and all 11 IDX-IC sectors closed in the red.

What is IDX-IC?

IDX-IC is the Indonesia Stock Exchange's official industry classification system, grouping all listed stocks into 11 sectors from energy to technology. The exchange uses it to calculate the sector indices traders watch daily.

When is the Fed's rate decision?

The Federal Reserve is scheduled to announce its interest rate decision on October 29, 2026, Jakarta time.