IHSG Pressure Continues as Foreign Investors Sell; Stock Recommendations for Today
Jakarta — The Jakarta Composite Index (IHSG) closed weaker at 1.62% decline to 7,585.69 in Friday’s trading (6 March).
The index decline occurred amid pressure across various sectors, with PT Chandra Asri Pacific Tbk (TPIA) rising 17.67%, PT Barito Renewables Energy Tbk (BREN) strengthening 5.82%, and PT DCI Indonesia Tbk (DCII) rising 1.94% as the main index drivers.
Conversely, PT Bank Rakyat Indonesia Tbk (BBRI) fell 2.13%, PT Bank Mandiri Tbk (BMRI) weakened 2.83%, and PT Bayan Resources Tbk (BYAN) declined 4.67%, acting as index drags.
Foreign investors recorded net selling of Rp307.56 billion in the regular market and Rp261.13 billion across all markets. Sectorally, all 11 sectors on the exchange closed in negative territory, with the industrial sector recording the steepest decline of 3.37%.
Global sentiment also applied downward pressure following the decline of major American stock indices. The Dow Jones index fell 0.95% to 47,501, followed by the S&P 500 which declined 1.33% to 6,740 and the Nasdaq weakened 1.59% to 22,387.
Market participants monitored the potential impact of United States–Iran conflict on global energy supplies, particularly after President Donald Trump stated there would be no agreement to end the conflict unless Iran surrenders unconditionally. In line with this, the iShares MSCI Indonesia exchange-traded fund (EIDO) fell 2.70% and the MSCI Indonesia index declined 1.28%.
Regarding company performance, PT Petrosea Tbk (PTRO) recorded net profit that more than tripled to US$35 million in 2025, compared to US$9.95 million in the previous year. Net profit attributable to the parent entity also increased nearly threefold to US$28.81 million from US$9.70 million in 2024.
This performance aligned with revenue growth of 28.32% year-on-year to US$886.46 million from US$690.81 million previously. Revenue growth was principally driven by increased activity in mining services and support services. The mining segment became the largest contributor with revenue of US$389.25 million, followed by the construction and engineering segment at US$379.74 million, which also recorded significant growth.
Profit growth that exceeded revenue growth was influenced by reduced administrative and financial expenses declining to US$72.95 million from US$82.42 million previously. However, direct operating expenses were recorded as increasing to US$774.23 million from US$600.52 million in the previous year.
Meanwhile, PT Bakrie & Brothers Tbk (BNBR) plans to conduct a rights issue by issuing approximately 86.7 billion new Series E shares from a total of 90 billion shares approved at the extraordinary general shareholder meeting on 27 February. This corporate action will be conducted with a 2:1 ratio.
Funds obtained from the rights issue are planned principally for debt repayment. Approximately Rp4.36 trillion will be channelled through subsidiary Bakrie Toll Indonesia to repay obligations to Hartman International of Rp3.66 trillion and to Bank National Nobu of Rp700 billion. Additionally, Rp1.09 trillion will be used to repay obligations to Bank Mayapada International.
Rp300 billion will also be provided as a loan to Cimanggis Cibitung Tollways for the development of a rest area, whilst remaining funds will be allocated for working capital requirements. The rights issue is scheduled to become effective on 8 May 2026 with the HMETD trading period running from 26 May to 4 June 2026.
Stock Recommendations for Today from Mega Capital Securities:
TPIA: Buy 6250–6300; Target Price 6525–6700; Stop Loss 5900
WIIM: Buy 1950–1960; Target Price 2000–2050; Stop Loss 1810
DSNG: Buy 1390–1400; Target Price 1430–1460; Stop Loss 1310
MYOR: Buy 1995–2005; Target Price 2040–2100; Stop Loss 1900
MEDC: Buy 1780–1785; Target Price 1830–1880; Stop Loss 1675