IHSG Cautious as Market Monitors Oil Stock Recommendations
Jakarta — Indonesia’s Composite Index (IHSG) closed weaker at 0.37% decline to 7,362.12 during Thursday trading (12 March). The index movement was influenced by gains in several large-capitalisation stocks such as DCII, BBCA, and BMRI which served as primary supports. Conversely, pressure came from stocks BREN, DSSA, and BRMS which weighted on the index.
Foreign investors recorded net buying activity worth Rp905.27 billion in the regular market and approximately Rp1 trillion across the entire market.
On a sectoral basis, eight of eleven sectors closed in the red with the cyclical sector recording the deepest decline of 2.04%, whilst the transportation sector became the strongest supporter with a gain of 1.26%.
In global markets, the United States stock exchange closed weaker. The Dow Jones Index fell 1.56% to 46,677, the S&P 500 corrected 1.52% to 6,672, and Nasdaq fell 1.78% to 22,311. Market sentiment was affected by concerns over a potential energy crisis following threats of Iranian attacks on oil tankers passing through the Strait of Hormuz.
This situation drove Brent crude oil prices surging 10.40% to US$101.60 per barrel. In line with this, Indonesia’s EIDO ETF fell 1.92%, whilst the MSCI Indonesia index moved relatively flat.
From the issuer perspective, Bank Jago (ARTO) recorded a net profit increase after tax of 115% to Rp276 billion in 2025, compared to Rp129 billion in the previous year.
This performance was supported by credit disbursement growth which increased 38% to Rp24.30 trillion from Rp17.70 trillion in 2024. The company stated that collaboration with various strategic partners and the development of its Jago Dana Cepat loan services supported credit expansion.
Third-party fund collection also grew 38% to Rp25.90 trillion from Rp18.80 trillion in the previous year. The gross non-performing loan (NPL) ratio remained maintained at 0.6%. Additionally, the number of customers increased by nearly 3 million to approximately 18.2 million in 2025, from previously 15.3 million customers.
Meanwhile, Bank Central Asia (BBCA) decided to distribute cash dividends of Rp41.3 trillion for the 2025 financial year or Rp336 per share. This value is equivalent to a dividend payout ratio of 72% of the company’s net profit. The remainder will be recorded as retained earnings to strengthen capitalisation.
For the 2026 financial year, BCA also plans to distribute interim dividends up to three times per year, scheduled quarterly.
Stock Recommendations Today from Mega Capital Securities:
OILS - Buy 248-254 | TP 260-268 | SL 236
ESSA - Buy 735-755 | TP 770-785 | SL 700
SRTG - Buy 1550-1560 | TP 1590-1615 | SL 1480
ICBP - Buy 7500-7550 | TP 7700-7850 | SL 7100
MEDC - Buy 1715-1725 | TP 1760-1805 | SL 1620