IHSG Still Under Pressure, Check Out Today’s 5 Stock Recommendations

The Jakarta Composite Index (IHSG) closed Tuesday trading in negative territory, down 0.96% to 7,939.77. Movements were led by gains in several stocks such as BBCA (+0.71%), AADI (+6.82%), and UNTR (+2.61%), which supported the index. On the downside, pressure came from AMMN (-6.51%), BBRI (-1.31%), and BREN (-2.57%), which weighed on the index. In terms of fund flows, foreign investors booked a net sell of Rp1.17 trillion in the regular market, but overall registered a net buy of Rp3.45 trillion across the entire market. Sectorally, nine of eleven sectors finished in the red, with the Basic Industry sector the deepest decline at 3.85%. The Industrial sector was the only one to show the strongest gain, rising 0.59%. Global markets also came under pressure, with major US stock indices broadly weaker: Dow Jones fell 0.83% to 48,501, the S&P 500 declined 0.94% to 6,816, and Nasdaq fell 1.02% to 22,516. Fears of a protracted confrontation between the US and Iran also weighed on the performance of the EIDO ETF and MSCI Indonesia, down 2.11% and 0.71% respectively. In the midst of market dynamics, Chandra Asri Pacific Tbk (TPIA) secured an investment commitment of US$200 million, or around Rp3.37 trillion, from Danantara Indonesia and the Indonesia Investment Authority (INA). The commitment was formalised through the signing of a Conditional Share Subscription Agreement (CSSA) to support the development of a Chlor Alkali–Ethylene Dichloride (CA-EDC) plant in Cilegon, Banten. The investment forms part of a total project value of US$800 million to be managed by the Chandra Asri Alkali (CAA) entity and targeted to commence operations in 2027. The project, part of the National Strategic Projects (PSN), will initially have a production capacity of 400,000 tonnes of Caustic Soda and 500,000 tonnes of Ethylene Dichloride (EDC) per year. Additionally, the project could employ around 3,000 workers during construction and 250 during operation. Meanwhile, Royaltama Mulia Kontraktorindo Tbk (RMKO) plans a rights issue by issuing up to 512 million new shares, representing 29.06% of the issued and paid-up capital. The plan awaits shareholder approval at the Extraordinary General Meeting of Shareholders (RUPSLB) scheduled for 8 April. All proceeds from the PMHMETD I, after deduction of issue costs, will be allocated as working capital to strengthen the group’s capital structure and support the company’s business development. The rights issue will be carried out no later than 12 months from the RUPSLB approval, in accordance with applicable regulations. Today’s Stock Recommendations: HUMI Buy 240-244 | TP 252-260 | SL 224; GTSI Buy 308-312 | TP 324-332 | SL 290; STAA Buy 1205-1220 | TP 1250-1310 | SL 1140; ACES Buy 396-400 | TP 408-410 | SL 380; LEAD Buy 181-183 | TP 190-198 | SL 171.