IHSG Begins Rebound, Here Are 5 Stock Recommendations for Today
The Jakarta Composite Index (IHSG) closed trading on Tuesday (7/7) up 1.19% at 5,986.50. The strengthening was mainly supported by gains in shares of BBCA, BBRI, and BBNI, while BRMS, INDF, and ICBP were the stocks under the most pressure. Foreign investors still recorded a net sell of Rp205.38 billion in the regular market and Rp176.83 billion across all markets. Sectorally, 10 out of 11 sectors closed in the green, led by the property sector which rose 3.23%, while the technology sector was the only one to weaken, falling 0.54%.
In global markets, US stock exchanges ended in the red. The Dow Jones index fell 0.25%, the S&P 500 weakened 0.45%, and the Nasdaq corrected 1.16%. External sentiment was also overshadowed by rising geopolitical tensions after Iran again attacked a commercial vessel in the Strait of Hormuz, potentially disrupting the distribution route for about 20% of the world’s oil supply.
Meanwhile, domestic market sentiment continued to receive support from MSCI’s ongoing evaluation of Indonesia’s capital market reforms, reflected in a 1.08% strengthening of the EIDO ETF and a 2.07% rise in the MSCI Indonesia index. MSCI has decided to maintain its index freeze policy for Indonesian shares during the August 2026 Index Review. With this decision, there will be no additions of Indonesian shares to the MSCI Investable Market Indexes (IMI), no changes to the Foreign Inclusion Factor (FIF) or Number of Shares (NOS), and no migration of shares from the Small Cap to the Standard Index. MSCI stated that the evaluation of Indonesia’s capital market reforms is ongoing, particularly regarding transparency of share ownership structures, free float determination methods, and market accessibility for global investors.
Elsewhere, PT Indosat Tbk. (ISAT) and its subsidiary, Aplikanusa Lintasarta, have completed the divestment of 84.90% of shares in PT Infra Fiber Teknologi (IFT) to PT Nusantara Fiber Teknologi (NFT), an entity owned by PT Ainfrastruktur Indonesia Raya (AIR), for a transaction value of Rp11.71 trillion. The transaction became effective as of 30 June 2026. Under the same scheme, ISAT and Lintasarta also transferred the remaining 15.10% of IFT shares through an inbreng mechanism and obtained a 49.90% ownership stake in NFT, thus indirectly retaining an effective ownership of 49.68% in IFT through the new structure. Following the completion of the transaction, ISAT will no longer consolidate IFT in its financial statements but will retain access to reuse the fibre optic network through a lease-back scheme to support operations. From the transaction, ISAT received cash funds of Rp11.71 trillion and booked a net gain from the deconsolidation of IFT amounting to Rp1.65 trillion. The transaction value, equivalent to 33.46% of the company’s equity, also strengthened the company’s cash position, which is estimated to increase from Rp5.56 trillion in the first quarter of 2026 to approximately Rp17.47 trillion.
On their first day of listing on the Indonesia Stock Exchange, PT Niramas Utama Tbk. (JELI) recorded an oversubscription of up to 41.90 times, while PT Nitrasanata Dharma Tbk. (JECX) recorded an oversubscription of 5.61 times the number of shares offered. In total, the excess demand for both issuers reached approximately 13.13 billion shares. Consequently, there is a potential refund of around Rp12.60 trillion to investors after the allotment process is completed, which could re-enter the market and support increased transaction activity on the Indonesia Stock Exchange.
Stock Recommendations for Today
SMGR - Buy 1490-1500 | TP 1520-1530 | SL 1410
ASII - Buy 4880-4910 | TP 4930-4980 | SL 4690
ADRO - Buy 2310-2330 | TP 2360-2400 | SL 2220
BKSL - Buy 63-66 | TP 67-68 | SL 61
ELSA - Buy 585-595 | TP 605-615 | SL 560