Analyst: IHSG Oversold, Potential for Rebound Emerges

4 hours ago 1

April 27, 2026 | 12:53 pm

TEMPO.CO, Jakarta - The Jakarta Composite Index (IHSG) corrected by 6.61 percent over the past week of trading, closing at 7,129.49 on Friday, April 24, 2026. Brigita Kinari, an Equity Analyst at PT Indo Premier Sekuritas (IPOT), noted that the IHSG has entered oversold territory, reaching a point currently considered undervalued.

"This condition creates an opportunity for a short-term technical rebound, although the potential for strengthening is expected to be limited given the prevailing short-term bearish trend," Brigita stated in an official release on Monday, April 27, 2026.

She mentioned that market participants are currently focused on testing crucial support levels within the 7,100–7,150 range. However, should the index fail to maintain this level, the IHSG risks further weakening toward the 7,022–7,080 zone.

Brigita suggested that without a de-escalation of conflict in the Middle East, the market is beginning to price in potential supply tightening that could keep energy prices elevated. Such a situation risks stalling the decline in global inflation and, ultimately, narrowing the window for short-term monetary policy easing.

Currently, according to Brigita, the global landscape is driving investors toward a risk-off stance. In the short term, capital is likely to shift toward safe-haven assets like the U.S. dollar, as well as energy commodities utilized as hedging instruments.

Meanwhile, on the domestic front, two primary catalysts are developing: the realization of price adjustments for non-subsidized fuels and significant pressure on the rupiah, which hit an all-time low of Rp17,315 per U.S. dollar.

"In the future, the effectiveness of policy responses, particularly in managing rupiah volatility without sacrificing growth momentum, will be crucial in determining domestic market sentiment and the sustainability of foreign capital inflows," Brigita concluded.

Read: Bank Indonesia Prepares Measures to Safeguard Rupiah Stability

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