IHSG Expected to Move in a Limited Range, Retail Investors Can Monitor BBTN, ASII, and ACES Shares
JAKARTA, KOMPAS.com - The Composite Stock Price Index (IHSG) is expected to move in a limited range during trading on Thursday (23/4/2026), amid global and domestic sentiments that continue to overshadow the domestic market.
Head of Retail Research at MNC Sekuritas, Herditya Wicaksana, predicts that the index’s support will move in the range of 7,525 and resistance at 7,570.
According to him, market participants are still monitoring external developments, particularly regarding the extension of the ceasefire between the United States (US) and Iran, which is seen as a factor restraining market direction in the short term.
“For tomorrow (Thursday), we expect the IHSG movement to remain volatile with support at 7,525 and resistance at 7,570. We anticipate that investors will still be monitoring the ceasefire extension by the US,” said Herditya when contacted by Kompas.com on Wednesday night (22/4/2026).
On one hand, this step temporarily eases geopolitical tensions.
However, on the other hand, this situation prolongs uncertainty about the direction of the conflict ahead.
In addition, the potential prolonged closure of the Strait of Hormuz risks keeping crude oil prices high for a longer period.
From a technical perspective, the IHSG has not yet managed to break through the 5-day moving average (MA5) at the level of 7,591, in line with the positive histogram movement on the MACD that continues to shrink, and the stochastic RSI indicator which is in the overbought area.
“Therefore, we expect the IHSG to potentially consolidate in the range of 7,500-7,600 during trading on Thursday (23/4/2026),” stated Phintraco Sekuritas.
Domestically, Bank Indonesia has decided to maintain the benchmark interest rate (BI Rate) at 4.75%.
Meanwhile, the deposit facility interest rate remains at 3.75% and the lending facility at 5.5%.
This policy is seen as consistent in maintaining the stability of the rupiah exchange rate, which is still facing pressure due to global uncertainties.
On the other hand, credit growth shows improvement, with a realisation of 9.49% year-on-year (YoY) in March 2026, up from 9.37% in February 2026.
MNC Sekuritas recommends shares of PT Aspirasi Hidup Indonesia Tbk (ACES) with a target price of Rp 406-Rp 420, PT Bank Neo Commerce Tbk (BBYB) with a target price in the range of Rp 360-Rp 374, and PT Bank Mandiri (Persero) Tbk (BMRI) with a target price of Rp 4,830-Rp 4,940.
Meanwhile, Phintraco Sekuritas recommends several shares for trading, namely PT Bank Tabungan Negara Tbk (BBTN), PT Panin Financial Tbk (PNLF), PT Midi Utama Indonesia (MIDI), PT Astra International Tbk (ASII), and PT Rukun Raharja Tbk (RAJA).