JCI Thursday Has Another All Time High, Check Out Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) is predicted to continue strengthening and set an all-time high (ATH) record today, Thursday 18 September. Phintraco Sekuritas in his research said that the strengthening would be supported by the decision to cut the interest rate of the Fed and Bank Indonesia (BI).

JCI today, according to Phintraco Sekuritas, will move in the resistance range of 8,150, pivot 8,070, and support 8,000.

Phintraco Sekuritas explained that the JCI closed higher to the level of 8,025.18 (0.85 percent) on Wednesday. The JCI set an all-time high and intraday record. The strengthening is in line with BI's decision in the RDG which lowered the BI Rate by 25 bps to 4.75 percent of this decision beyond the expectation of consensus which estimates that the BI Rate will be maintained at the level of 5 percent.

Cumulatively, until September 2025 BI has cut the benchmark interest rate by 125 bps so far this year to reach its lowest level since October 2022. This decrease in interest rates is in line with inflation predictions which are in the BI target range, stable rupiah, and efforts to encourage economic growth.

"The credit growth in August 2025 was 7.56 percent from 7.03 percent in July, which was the first increase after five consecutive months of slowdown," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that the index on Wall Street closed mixed on Wednesday. The Fed cut the benchmark interest rate by 25 bps to 4.00-4.25 percent as estimated. The Fed indicates a two-time drop in interest rates this year.

"However, the Fed hinted at only lowering interest rates once in 2026," added Phintraco Sekuritas.

From the US, investors will also pay close attention to the initial jobless claims data last week which is expected to drop to 240 thousand from 263,000 in the previous week. From Japan, investors tomorrow will pay close attention to the August inflation data which is expected to decline to 2.8 percent YoY from 3.1 percent YoY in July 2025.

Technically, Phintraco Sekuritas said the JCI was successfully closed at a new high, supported by modern MACD indicators indicating the formation of a positive slope followed by a golden cross.

"In line with this condition, we estimate the JCI today has the potential to continue strengthening and test the 8,150 level," said Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are BBNI, ARTO, BSDE, SMRA, PWON and PTPP.