JCI Still Potentially Weakened Again, Check Out Friday's Stock Recommendations
JAKARTA - The Composite Stock Price Index (JCI) is still haunted by negative sentiments so that it is projected to move weaker in today's trading, Friday, June 18.
Yesterday, Thursday, June 18, the JCI corrected by 0.78 percent and was at the level of 6,172.34. Phintraco Sekuritas in its research said that the index weakening occurred amid the cautious attitude of market participants who observed various global and domestic sentiments.
"Market participants are still choosing to wait and see ahead of a number of important agendas in the global market. Investors tend to wait and see ahead of the FTSE index rebalancing and MSCI announcement," explained Phintraco Securities.
In addition to external factors, domestic monetary policy is also a major concern for investors. Bank Indonesia (BI) is known to have again raised the benchmark interest rate by 25 basis points to 5.75 percent in the Governor's Board Meeting (RDG) held on Thursday, June 18.
The decision is aimed at maintaining the stability of the rupiah exchange rate while controlling inflationary pressures amid global economic dynamics.
"In total, Bank Indonesia has raised interest rates by 100 basis points and placed the BI Rate at the highest level since April 2025," explained Phintraco Sekuritas.
Global factors also affect the direction of the JCI movement. One of the sentiments that concerns market participants is news about the initial agreement between the United States and Iran to develop a permanent peace agreement, which is considered to affect risk perceptions in international markets.
"The JCI is expected to consolidate in the range of 6,100-6,250," explained Phintraco Sekuritas.
Meanwhile, according to KISI Securities, the JCI is still in a downtrend and has not shown any reversal signals.
"Technically it is still in a downtrend, with support at 6,170 and resistance at 6,400. There is no reversal signal, so an upward breakout still requires a strong catalyst," he explained.
A number of stocks that investors can pay attention to according to KISI Securities, including BBCA, BMRI, and ADRO.