JAKARTA – The Jakarta Composite Index (IHSG) is projected to experience limited movement during today’s trading session, Tuesday, May 5, 2026. Despite the cautious outlook, market analysts have highlighted several key stock recommendations, including ITMG, PADI, and SRTG, for investors to monitor.
The market enters today’s session following a modest 0.22% gain yesterday, which brought the index to a close at 6,971. Notably, foreign investors recorded a net sell of Rp791 billion in the regular market, signaling a cautious stance among institutional players.
Reza Diofanda, an analyst at BRI Danareksa Sekuritas, predicts that the IHSG will fluctuate within a support range of 6,920—7,000 and a resistance level of 7,100—7,160. Market sentiment is heavily influenced by the weakening of the Indonesian Rupiah, which has breached the Rp17,400 per US dollar threshold, alongside anticipation for the upcoming Q1 GDP growth figures, which are expected to show a deceleration.
Stock Recommendations and Strategic Moves
Given the current market volatility, Reza Diofanda suggests a “buy” position for PT Indo Tambangraya Megah Tbk. (ITMG), with a target price between Rp27,025 and Rp27,600 and a stop loss set below Rp25,000. Additionally, BRI Danareksa recommends PT Minna Padi Investama Sekuritas Tbk. (PADI) with a target range of Rp130—Rp139 and a stop loss below Rp115, as well as PT Saratoga Investama Sedaya Tbk. (SRTG), targeting Rp1,870—Rp1,960 with a stop loss under Rp1,700.
In contrast, analysts have issued a “sell” recommendation for PT Chandra Asri Pacific Tbk. (TPIA). The technical outlook for TPIA appears bearish, characterized by a notable increase in selling volume, with a set price target of Rp4,460.
Market Performance Review
The positive close of 6,971.95 on Monday was primarily fueled by the performance of several major capitalized companies. Throughout the session, the index reached a high of 7,069.69 before settling. Market breadth showed 327 stocks advancing, 357 declining, and 134 remaining stagnant, with the total market capitalization standing at Rp12,438 trillion.
Key contributors to yesterday’s growth included PT Bank Negara Indonesia (Persero) Tbk. (BBNI), which rose 3.23% to Rp3,840, and PT Barito Renewables Energy Tbk. (BREN), which climbed 3.14% to Rp4,600. Furthermore, PT Telkom Indonesia (Persero) Tbk. (TLKM) and PT Pantai Indah Kapuk Dua Tbk. (PANI) also supported the index, gaining 2.85% and 1.78%, respectively.
While the market saw significant gains in stocks like PT Bumi Citra Permai Tbk. (BCIP), which surged 34.85% to Rp89, and PT Wijaya Cahaya Timber Tbk. (FWCT), which grew by 34.83% to Rp120, some equities faced downward pressure. The top losers included PT Sidomulyo Selaras Tbk. (SDMU), down 14.29% to Rp108, and PT Rohartindo Nusantara Luas Tbk. (TOOL), which slipped 14% to Rp86.
Disclaimer: This news article is for informational purposes only and does not constitute financial advice or a solicitation to buy or sell any securities. Investment decisions are the sole responsibility of the reader. Bisnis.com is not liable for any losses or gains resulting from investment decisions made based on this information.
Summary
The Jakarta Composite Index (IHSG) is expected to experience limited movement today, fluctuating between support levels of 6,920–7,000 and resistance at 7,100–7,160. This cautious sentiment follows a modest gain yesterday, largely driven by foreign net selling and concerns over the weakening Rupiah alongside slowing economic growth projections. Investors are advised to watch for potential volatility as the market reacts to these macroeconomic headwinds.
Analysts have issued buy recommendations for ITMG, PADI, and SRTG, each with specific target prices and stop-loss levels to manage risk. Conversely, TPIA has received a sell recommendation due to a bearish technical outlook and rising selling volume. Market participants should note that these suggestions are for informational purposes and do not constitute formal financial advice.
