JAKARTA – The Composite Stock Price Index (IHSG) is expected to trade within a limited range this Thursday, May 7, 2026. Despite the cautious outlook, several stocks, including ESSA, ENRG, and KOTA, are showing potential for further gains.
Reza Diofanda, an analyst at BRI Danareksa Sekuritas, projects that the IHSG’s upward momentum will be constrained today. From a technical perspective, the index is approaching a key resistance zone following a rebound in the previous session.
In his daily research note, Diofanda stated, “Support is positioned between 6,920 and 7,000, while resistance lies in the 7,100 to 7,160 range. Investors are keeping a close watch on geopolitical developments and fluctuations in the rupiah ahead of the central bank’s foreign reserve data release later this week.”
In yesterday’s trading, the IHSG closed up by 0.50% at 7,092. This gain occurred despite foreign investors recording a net sell of IDR 484 billion in the regular market. The market’s resilience was largely attributed to domestic economic growth data that surpassed initial market expectations.
Stock Recommendations for Today
For today’s trading session, analysts have issued several recommendations. Investors are advised to look at PT ESSA Industries Indonesia Tbk. (ESSA), with a target price between IDR 955 and IDR 995, and a stop loss set below IDR 925.
Other picks include PT Energi Mega Persada Tbk. (ENRG), targeting IDR 1,895 to IDR 2,120 with a stop loss below IDR 1,650, and PT DMS Propertindo Tbk. (KOTA), with a target price range of IDR 167 to IDR 176 and a stop loss below IDR 150.
Conversely, analysts suggest a sell recommendation for PT Medikaloka Hermina Tbk. (HEAL) with a target price of IDR 985. The stock currently exhibits a bearish trend, further supported by a significant increase in trading volume.
Market Recap: Wednesday, May 6, 2026
The IHSG concluded Wednesday’s session at 7,092.46, driven by strong performances from major caps like UNVR, TPIA, and DCII. Data from the Indonesia Stock Exchange (BEI) indicates a 0.50% gain, or 35.36 points, for the day. The index opened at 7,086.34 and climbed to an intraday high of 7,127.72.
Market breadth remained positive, with 341 stocks advancing, 290 declining, and 186 remaining unchanged. Total market capitalization reached IDR 12,728 trillion. Among the top performers, PT Unilever Indonesia Tbk. (UNVR) surged 10.06% to IDR 1,805, while PT Chandra Asri Pacific Tbk. (TPIA) rose 4.94% to IDR 6,375 per share.
On the downside, PT Amman Mineral Internasional Tbk. (AMMN) dipped 3.38% to IDR 5,000, and PT Bank Negara Indonesia (Persero) Tbk. (BBNI) fell 2.30% to close at IDR 3,830 per share.
Disclaimer: This article is for informational purposes only and does not constitute a recommendation to buy or sell any securities. Investment decisions remain the sole responsibility of the reader. Bisnis.com is not liable for any losses or gains resulting from investment actions taken based on this information.
Summary
The Composite Stock Price Index (IHSG) is expected to trade within a limited range today, with support levels between 6,920 and 7,000 and resistance between 7,100 and 7,160. Analysts suggest caution as investors monitor geopolitical developments and upcoming central bank data following a 0.50% gain in the previous session. Despite net foreign selling of IDR 484 billion yesterday, the market showed resilience supported by positive domestic economic growth data.
Market analysts have issued buy recommendations for ESSA, ENRG, and KOTA, while advising a sell for HEAL due to its bearish trend. Yesterday’s session concluded at 7,092.46, with notable gains from major companies such as UNVR and TPIA. Market participants are encouraged to manage their risks carefully, as these stock recommendations are intended for informational purposes only.
