IHSG Expected to Move Within 7,450-7,500 Range; Here Are Analyst Recommendations

Jakarta — The Composite Stock Price Index (IHSG) is expected to move volatilely during trading on Monday, 9 March 2026. The index’s support level is predicted to be in the range of 7,450 to 7,500.

Capital market analyst and founder of Republik Investor, Hendra Wardana, views the current market conditions as highly volatile. Investors are advised against making investment decisions emotionally.

Investors should focus on shares with strong fundamentals, healthy cash flows, and catalysts from rising global commodity prices. “Moreover, a staged strategy such as buying on weakness or tiered accumulation can be a safer approach compared to purchasing all at once at a single price level,” Hendra told Kompas.com.

This condition opens opportunities for several energy sector shares. Shares in the oil and gas sector as well as energy shipping are considered potential defensive choices amid geopolitical uncertainty.

Several shares are considered attractive, including PT Medco Energi Internasional Tbk (MEDC) with a target price of Rp 1,900. Next is PT Energi Mega Persada Tbk (ENRG) with a target of Rp 2,000, and PT Elnusa Tbk (ELSA) with a target of Rp 900. There are also PT Humpuss Maritim Internasional Tbk (HUMI) with a target of Rp 240, and PT Soechi Lines Tbk (SOCI) with a target of Rp 650.

These shares have the potential to gain catalysts if global oil prices remain at elevated levels and exploration and energy distribution activities increase. “Thus, although the Indonesian stock market is facing considerable pressure from a combination of geopolitical and domestic fiscal risks, this condition also opens selective opportunities for investors who can read commodity cycle direction and select the right sectors,” said Hendra.

PT Adaro Andalan Indonesia Tbk (AADI) closed at Rp 10,300 per share with a buy on weakness recommendation. PT Bank Central Asia Tbk (BBCA) closed at Rp 7,000 per share with a buy on weakness recommendation. PT Petrindo Jaya Kreasi Tbk (CUAN) closed at Rp 1,320 per share with a buy on weakness recommendation. PT Merdeka Battery Materials Tbk (MBMA) closed at Rp 715 per share with a buy on weakness recommendation.