Five Stocks Recommended in the Midst of the IHSG Movement Galaunya Wednesday

JAKARTA - The Composite Stock Price Index (JCI) is projected to move in the range of resistance 6,050, pivot 6,000, and support 5,870 on today's trading, Wednesday, July 8, after yesterday closed up 1.19 percent to 5,986.5.

Phintraco Sekuritas in its research said that positive factors include the DPR's proposal to reduce the budget of the MBG Program for 2027 and the June foreign exchange reserves data which increased from the lowest level in the last two years.

Phintraco Sekuritas explained, the JCI closed above the MA20 level and MACD still showed buying interest. However, some negative sentiments are expected to potentially trigger profit taking.

"Thus, today's JCI has the potential to move mixed in the range of 5,900-6,000," wrote Phintraco Sekuritas.

Indonesia's foreign exchange reserves increased to 145.6 billion US dollars in June 2026 from 144.9 billion US dollars in May 2026. This moderate increase was mainly supported by tax and service receipts, which were more than enough to offset government foreign debt payments and rupiah stabilization measures by Bank Indonesia.

This reserve position is equivalent to 5.5 months of imports or 5.4 months of imports and government external debt payments, above the international adequacy standard of around three months of imports.

Meanwhile, the state budget deficit in Semester I-2026 amounted to IDR 196.5 trillion or 0.76 percent of GDP. However, the Minister of Finance projects that the 2026 state budget deficit can reach IDR 734.3 trillion or equivalent to 2.85 percent of GDP, higher than the target of IDR 689.1 trillion or 2.68 percent of GDP.

Although tax revenue is projected to grow 20.5 percent, the government will strive to maintain its growth in the range of 23 percent without raising tariffs or adding new types of taxes. State spending is projected to reach Rp. 3,942.4 trillion or 102.6 percent of the APBN ceiling.

"The projection of the wider state budget deficit than the target has the potential to become a negative sentiment," explained Phintraco Sekuritas.

Phintraco Sekuritas recommends five stocks for today, namely HMSP, CPIN, PGEO, SMGR and BBNI.