New Listings Move IHSG, ENRG and PTMP Gain Spotlight

JAKARTA, investortrust.id – The Indonesia Stock Exchange (IDX) Composite Stock Price Index (IHSG) showed little change on Monday (13/1/2024), hovering near the MA20 resistance level. BRI Danareksa Sekuritas forecasted the index to move within a range of 6,993-7,156, urging investors to exercise caution if the index dips below the support level of 6,931.

The IHSG's movement this week is influenced by external and domestic factors. Last week’s weakness in the U.S. stock market weighed on investor sentiment. The Dow Jones, S&P 500, and Nasdaq all recorded declines, reflecting broader concerns about global economic conditions.

Domestically, the debut of three newly listed issuers—PT Bangun Kosambi Sukses Tbk (CBDK), PT Delta Giri Wacana Tbk (DGWG), and PT Brigit Biopharmaka Teknologi Tbk (OBAT)—added to market dynamics. The listings are expected to influence trading activity and attract investor attention.

Analysts have highlighted ENRG, with a target price of Rp 250-278, and PTMP, with a target price of Rp 66-74, as stocks to watch for potential gains. Meanwhile, BUKA and CTRA have been flagged with sell recommendations.

Last weekend, the IHSG closed 24.28 points higher (0.34%) at 7,088.87. Gains were driven by improvements in sectors such as basic materials, energy, industrials, primary consumer goods, and infrastructure. However, foreign investors recorded net sales amounting to Rp 201.53 billion, primarily in PT Bank Mandiri Tbk (BMRI), PT Bank Rakyat Indonesia Tbk (BBRI), and PT GoTo Gojek Tokopedia Tbk (GOTO).

Despite the upward momentum in some areas, declines in financial, property, technology, and health sectors reflect mixed market conditions. Investors are advised to stay cautious and monitor global trends and domestic developments, particularly the impact of new listings and shifting sectoral performances.

IHSG Graph