IHSG Plunges 3%, Five Stock Recommendations Worth Considering
Jakarta, CNBC Indonesia - Indonesia’s Composite Index (IHSG) closed significantly weaker on Friday trading (13 March). The index fell 3.05% to the level of 7,137.21.
A number of stocks were able to withstand the index decline, including Sinar Mas Multiartha (SMMA) which rose 2.04%, Adaro Minerals Indonesia (ADMR) strengthened 3.19%, and Adaro Andalan Indonesia (AADI) which gained 1.97%.
Conversely, the greatest pressure came from stocks such as Dian Swastatika Sentosa (DSSA) which plummeted 11.47%, Amman Mineral International (AMMN) fell 10.41%, and DCI Indonesia (DCII) which weakened 7.89%.
From the perspective of fund flows, foreign investors recorded net selling of Rp221.84 billion in the regular market. Meanwhile, when calculated across the entire market, foreign investors recorded net selling of Rp117.48 billion.
From a sectoral perspective, all 11 sectors on the exchange were uniformly in the red. Of the sectors present, the transport sector recorded the deepest decline with a correction reaching 3.87%.
The pressure in the domestic stock market was in line with the weakening of American stock exchanges. The Dow Jones Industrial Average index fell 0.26% to the level of 46,558. Subsequently, the S&P 500 weakened 0.61% to 6,632, whilst the Nasdaq Composite was corrected 0.93% to 22,105.
Negative sentiment stemmed from heightened market concerns regarding the potential impact of a Donald Trump administration attack on Iran’s crude oil export facilities. Additionally, US core PCE inflation data released higher than expected also added to market pressure.
The increased geopolitical uncertainty also drove declines in a number of indices related to Indonesia, such as the iShares MSCI Indonesia ETF (EIDO) which fell 1.45% and the MSCI Indonesia index which weakened 1.52%.
On the other hand, the performance of technology company Bukalapak showed significant improvement. The company with stock code Bukalapak.com (BUKA) recorded net profit of Rp3.14 trillion in 2025.
This achievement reversed the previous year which still posted losses of Rp1.54 trillion. Performance improvement was driven by a surge in revenue of 45.96% to Rp6.51 trillion from the previous Rp4.46 trillion. This growth primarily came from the gaming segment which became the main revenue contributor.
Additionally, Bukalapak also recorded gains from investment activities of Rp2.37 trillion, reversing from a loss position of Rp1.54 trillion in the previous year.
From a technical perspective, the BUKA stock has potential to continue climbing towards the Rp139 area, which represents a dynamic resistance level following the formation of a valid swing low.
Meanwhile, conglomerate company Astra International through Astra International share (ASII) plans to conduct a share buyback programme.
The company has allocated maximum funds of Rp2 trillion for this programme. The buyback will be conducted with a limit value not exceeding 20% of paid-up capital, in accordance with the provisions in POJK No. 13/2023.
The buyback is scheduled to run from 16 March through 15 June.
From a performance perspective, Astra’s total assets are estimated to decrease slightly to Rp505.37 trillion from the previous Rp507.37 trillion. However, net profit per share is projected to increase to Rp819 per share from the previous Rp810 per share.
Today’s Stock Recommendations:
BUKA - Buy 133-136 | Target Price 138-141 | Stop Loss 127
AMRT - Buy 1435-1450 | Target Price 1480-1520 | Stop Loss 1390
TBIG - Buy 1460-1470 | Target Price 1520-1570 | Stop Loss 1390
SSMS - Buy 1300-1305 | Target Price 1345-1385 | Stop Loss 1235
ENRG - Buy 1380-1390 | Target Price 1430-1465 | Stop Loss 1300