Some 17.50 billion shares, worth some Rp 8.67 trillion (US$556.8 million), were traded during the day. Of the listed stocks, 230 gained, 309 declined and 238 remained unchanged.

Five sectoral indices rose, while six others slipped. Leading the gainers was the industrial sector, rising by 0.31 percent. The energy and financial sectors followed with a 0.19 percent and 0.13 percent increase, respectively.

Meanwhile, the health sector recorded the most significant decline at 1.62 percent. This was followed by the raw goods sector, down 1.39 percent, while the technology sector slipped 0.42 percent.

The LQ45 index also closed lower at 991.596, losing 0.26 percent. PT Merdeka Battery Materials (MBMA) led the losers with a 5.30 percent decrease. Meanwhile, PT Charoen Pokphand Indonesia (CPIN) was the day’s biggest gainer in the 45-stock index with a 3.59 percent increase.

Experts are predicting a volatile week for the exchange.

"The IDX Composite this week is expected to be more volatile, driven by several [pieces of] important domestic and foreign economic data," the Lotus Andalan Sekuritas Research Team said on Monday morning, as quoted by Antara news agency.

Domestically, the M2 money supply data published on Friday by Bank Indonesia (BI), showed a 5.4 percent year-on-year (yoy) increase. This aligned with lending development, which increased 11.5 percent yoy in January, up from 10.3 percent yoy in the previous month.

Investors will also likely keep an eye on Indonesia's new inflation data, scheduled for release on Friday.

On the international side, United States Federal Reserve Bank of New York president John Williams anticipated a slowdown in consumer spending growth this year, hinting at the Fed's potential withdrawal of its restrictive monetary policy by year-end.

Williams also voiced caution about the possibility of early rate cuts, saying that the Fed was on track to reduce borrowing costs "later this year".