JCI Thursday Projected to Strengthen, Test Level 8.350-8.400

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue strengthening towards 8,400 in today's trading, Thursday, February 12. Phintraco Securities in its research estimates that the index will move in the range of resistance 8,400, pivot 8,300, and support 8,200.

Phintraco Sekuritas explained that the JCI yesterday closed up 1.96 percent to 8,290.97. Energy sector shares posted the largest gain, while financial sector shares were the only sector to weaken.

According to Phintraco Sekuritas, the strengthening of the JCI is among others driven by the increasing optimism of investors in the Indonesian capital market, the financial performance reports of issuers, as well as technical factors. The rupiah also continued to strengthen against the US Dollar.

Technically, continued Phintraco Sekuritas, the JCI managed to continue strengthening and supported by the increase in the Stochastic RSI indicator and the continued narrowing of the negative MACD histogram. Buying volume also increased.

"With this, the JCI today is predicted to continue strengthening and testing the level of 8,350-8,400," said Phintraco Sekuritas.

Phintraco Sekuritas said that the combination of fiscal stimulus and seasonal consumption increases in conjunction with Chinese New Year, Ramadan and Eid al-Fitr is expected to drive economic growth in the first quarter of 2026.

"The government has prepared a budget of IDR 12.83 trillion for the I quarter 2026 economic stimulus package which includes transportation ticket discounts, toll road tariff discounts, and social assistance. The stimulus is given during the period February-March 2026," explained Phintraco Sekuritas.

Phintraco Sekuritas added that the continued discussion between the IDX and MSCI yesterday, among others, includes disclosure of shareholders above 1 percent, provision of more granular investor data, progress in implementing the increase in the minimum freefloat limit from 7.5 percent to 15 percent.

"BEI will also issue a new policy in the form of a shareholders concentration list, namely a list of shares that are indicated to have concentrated ownership," said Phintraco Sekuritas.

Phintraco Sekuritas recommends five stocks for today, namely WIFI, BBYB, HRUM, NCKL and AADI.