IHSG Remains Volatile, This Lineup of Stocks is Worth Watching
Jakarta, CNBC Indonesia - The Composite Stock Price Index (IHSG) closed weaker by 1.89% at 7,164.09 on Thursday’s trading (26/03).
The index’s decline occurred amid varied stock movements, with significant gains recorded by MEGA (+9.64%), GIAA (+15.07%), and JPFA (+8.26%). Conversely, the heaviest pressure came from large-cap stocks such as ASII (-5.30%), TLKM (-3.94%), and BMRI (-2.62%).
Foreign investor selling also loomed over the market, with a net sell of Rp1.93 billion in the regular market and Rp20.71 trillion across all markets.
On a sectoral basis, the majority of indices were in the red, with 10 out of 11 sectors correcting. The transportation sector was the only one to strengthen by 2.96%, while the energy sector recorded the deepest decline of 2.91%.
External sentiment also exerted pressure, following the weakening of US stock markets. The Dow Jones index fell 1.01% to 45,960, followed by the S&P 500 which weakened 1.74% to 6,477, and the Nasdaq which corrected 2.38% to 21,408.
Market concerns over uncertainties in US-Iran negotiations triggered rises in Brent and WTI crude oil prices, which also impacted the decline of the EIDO ETF index (-2.38%) and MSCI Indonesia (-2.30%).
From the issuer performance side, Elang Mahkota Teknologi (EMTK) booked a 389.20% increase in net profit to Rp8.88 trillion in 2025, compared to Rp1.81 trillion the previous year. This increase was supported by revenue growth of 56.29% to Rp19.12 trillion. However, the cost of goods sold also rose 72.16% to Rp14.06 trillion.
EMTK’s profit increase was also influenced by non-recurring factors, including gains from the acquisition of a subsidiary entity amounting to Rp3.12 trillion and an increase in investment income to Rp3.89 trillion, following the divestment of a portion of shares in Grab Holdings Limited worth Rp3.41 trillion or approximately 41.66 million shares. Thus, the profit surge in the 2025 fiscal year is deemed not to fully reflect sustainable operational performance.
Meanwhile, Graha Andrasentra Propertindo (JGLE) plans to carry out a capital increase through the issuance of 8.28 billion new Series B shares at an exercise price of Rp50 per share. This action has the potential to raise funds of up to Rp414 billion. Every holder of 270 Series A shares recorded as of 6 March is entitled to receive 99 new Series B shares.
The funds obtained will be focused on acquiring shares in Jungleland Asia valued at Rp413.94 billion, while the remainder will be used for operational needs. Post-transaction, the company’s total assets are projected to increase to Rp2.58 trillion with equity reaching Rp2.07 trillion. Management also estimates improved performance with a projected profit of Rp519.66 billion, from a previous loss of Rp46.42 billion in 2025.
Today’s Stock Recommendations:
DSNG
Buy 1500-1510 | TP 1560-1610 | SL 1415
DEWI
Buy 119-121 | TP 125-127 | SL 112
MAIN
Buy 890-900 | TP 920-930 | SL 830
MDKA
Buy 3190-3210 | TP 3300-3370 | SL 3000
MEDC
Buy 1760-1780 | TP 1840-1860 | SL 1675
Disclaimer: All stock analyses and recommendations in this article are for informational purposes only and do not constitute an invitation to buy or sell specific stocks.
Investment decisions are entirely at the discretion of each investor according to their risk profile and personal financial goals. Invest wisely.