A Look at 5 Recommended Stocks with Profit Potential Today
Jakarta, CNBC Indonesia - The Indonesia Composite Index (IHSG) closed weaker by 1.98% to the level of 6,723.32 in Wednesday’s trading. The index decline occurred amidst selling pressure from foreign investors, who recorded a net sell of Rp1.35 trillion in the regular market and Rp1.53 trillion across the entire market.
Several stocks were noted as supports for the index movement, including PT Charoen Pokphand Indonesia Tbk (CPIN) which strengthened by 4.52%, PT Bakrie & Brothers Tbk (BNBR) rose by 12.18%, and PT Astrindo Nusantara Infrastruktur Tbk (BIPI) which surged by 11.11%.
On the other hand, the greatest pressure came from PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) which fell 3.11%, PT Chandra Asri Pacific Tbk (TPIA) weakened by 14.85%, and PT Barito Renewables Energy Tbk (BREN) which corrected by 11.36%.
Sectorally, nine out of eleven sectors were in the red zone. The basic industry sector saw the deepest decline of 4.43%, while the transportation sector recorded the highest increase of 4.89%.
Negative sentiment also arrived from the global market. US stock exchanges closed lower, with the Dow Jones index falling 1.07% to 49,526, the S&P 500 corrected by 1.24% to 7,408, and the Nasdaq dropped 1.54% to 26,225.
Market participants are still closely observing the impact of the MSCI rebalancing, which is deemed not to have fully subsided. Additionally, FTSE Russell has announced it will remove stocks categorised as High Shareholding Concentration (HSC) from its index.
In the index review for the June 2026 period, FTSE Russell is continuing its Industry Classification Benchmark (ICB) update, quarterly share proportion adjustments without a standard 1% buffer, and quarterly free float adjustments without a standard 3% buffer. FTSE Russell will also remove HSC-status stocks with a theoretical price of zero to facilitate passive investors in performing portfolio adjustments. This policy becomes effective from the start of trading on 22 June 2026.
Two Indonesian issuers deemed most at risk of being affected are PT Barito Renewables Energy Tbk (BREN) and PT Dian Swastatika Sentosa Tbk (DSSA). BREN has an HSC level of 97.31%, while DSSA reaches 95.76%. Pressure on DSSA is considered potentially greater as it holds a weight of approximately 3.14% in the FTSE Indonesia Index, whereas BREN’s weight is recorded below 2.60%.
Meanwhile, PT Garuda Indonesia (Persero) Tbk (GIAA) recorded revenue of US$762.35 million in Q1-2026, up 5.36% year-on-year compared to US$723.56 million in the same period last year. Passenger numbers also increased by 6.76% to 5.42 million passengers from 5.08 million. The increase in flight traffic was supported by a 5.87% year-on-year increase in flight frequency to 19,337 flights. On the other hand, the company’s expenses decreased slightly by 0.71% to US$713.22 million. With this improvement, GIAA’s current period loss narrowed by 54.81% to US$41.62 million compared to the previous period’s loss of US$75.93 million.
From a stock movement perspective, GIAA is still moving in a bearish trend. However, the state-owned airline stock has a chance to rebound towards the Rp66 area, which was the highest point of the mother candle on 12 May.
Amidst volatile market conditions, PT Rukun Raharja Tbk (RAJA) plans to conduct a stock split with a ratio of 1:5 after obtaining approval from the Indonesia Stock Exchange on 5 May. The number of outstanding shares will increase to 21.14 billion from the previous 4.23 billion.
With this corporate action, the RAJA share price will theoretically adjust to approximately Rp880 per share, based on the closing price on 13 May at the level of Rp4,400 per share. The stock split plan is still awaiting shareholder approval in the General Meeting of Shareholders (RUPS) scheduled for 23 June 2026.
Referring to the provisions of POJK 15/2022, the implementation of a stock split must be carried out at the latest 30 calendar days after obtaining approval from the GMS. The company targets trading with the new nominal to begin on 16 July 2026.
Today’s Stock Recommendations:
BUMI - Buy 210-214 | TP 218-224 | SL 200
JPFA - Buy 2490-2520 | TP 2570-2630 | SL 2350
RAJA - Buy 4350-4370 | TP 4450-4570 | SL 4150
BULL - Buy 460-464 | TP 474-482 | SL 434
IRSX - Buy 454-460 | TP 470-480 | SL 432