IHSG Movement Remains Limited, BUMI and ASII Enter Analyst Recommendations
Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) closed with a limited movement, posting a slight decline of 0.08% to 7,091.67 during trading on Monday (30/03).
The index’s movement was influenced by gains in several stocks such as DSSA, which rose 6.62%, DCII up 4.73%, and ASII increasing 3.67%. On the other hand, pressure came from large-cap stocks like BBCA, which fell 3.73%, followed by BBRI weakening 1.75% and BYAN correcting 3.25%.
Foreign investor activity continued to show selling pressure, with net sales amounting to Rp678.17 billion in the regular market and Rp686.13 billion across all markets.
In terms of sectors, the index movement varied, with four out of eleven sectors closing in the red. The financial sector was the most pressured, declining 1.17%, while the energy sector recorded the highest gain of 2.18%.
From the global market perspective, US stock exchanges closed mixed. The Dow Jones edged up 0.11% to 45,216, while the S&P 500 weakened 0.39% to 6,343 and the Nasdaq fell 0.73% to 20,794.
The rise in commodity prices such as coal and CPO provided positive sentiment for producer countries, including Indonesia, as reflected in the 0.45% strengthening of the EIDO ETF.
However, the surge in WTI crude oil prices breaking through the USD 100 per barrel level has raised concerns about potential inflationary pressures and economic growth slowdown, in line with the 0.78% weakening of the MSCI Indonesia index.
Regarding issuer performance, Bank Pembangunan Daerah Jawa Timur (BJTM) recorded a 24.80% net profit growth to Rp1.62 trillion in 2025, compared to Rp1.29 trillion in the previous year.
This increase was driven by a 22.78% rise in interest and sharia profit-sharing income to Rp10.29 trillion, although interest and profit-sharing expenses also increased 15.75% to Rp3.07 trillion.
BJTM’s Loan to Deposit Ratio (LDR) showed an upward trend to 85.39 in 2025, compared to 82.05 in 2024 and 70.03 in 2023. Nevertheless, this credit expansion was accompanied by a rise in the non-performing loan ratio (NPL) to 3.88% from the previous 3.45%. Management stated it will continue to maintain credit quality by targeting a gross NPL reduction to the range of 3.20% to 3.40% this year.
Meanwhile, Saranacentral Bajatama (BAJA) plans to increase capital through a rights issue scheme by issuing 1 billion new shares. The funds raised will be used to settle obligations to the affiliated party, Sarana Steel, with a total value of Rp445.33 billion, consisting of principal debt of Rp317.56 billion and interest of Rp127.76 billion.
In this corporate action, Sarana Steel along with majority shareholder Ibnu Susanto will act as standby buyers with maximum portions of 70% and 30% respectively. This step is expected to strengthen the company’s capital structure while settling existing obligations.
Today’s Stock Recommendations from Mega Capital Sekuritas
BUMI - Buy 218-224 | TP 230-240 | SL 208
SIMP - Buy 635-645 | TP 655-670 | SL 600
MSIN - Buy 565-575 | TP 600-615 | SL 540
ASII - Buy 6200-6300 | TP 6425-6550 | SL 5825
TAPG - Buy 1820-1830 | TP 1870-1900 | SL 1725