JCI Predictions Wednesday, Will It Be Green Yesterday?

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) ended in the green zone or rose 1.43 percent to the level of 6,538.27 at the end of trading Tuesday, April 22. So what index today, Wednesday, April 23 will strengthen again?

Phintraco Sekuritas in its research assessed that technically, the strengthening trend is still visible, but the market is starting to approach the overbought area which can trigger short-term corrections.

For Wednesday, its external sentiment is that the market is waiting for the release of global manufacturing data (S&P Global Manufacturing PMI) for April 2025 which is expected to weaken and fall from its previous levels in the United States, Europe, and Japan.

"This condition indicates that manufacturing activity in these countries is weakening and is in the contraction zone," explained Phintraco Sekuritas.

Meanwhile, from domestic, the market is looking forward to the Meeting of the Board of Governors of Bank Indonesia (RDG BI) on Wednesday to find out the direction of BI's monetary policy including the decision of the benchmark interest rate.

"The market estimates that BI will again maintain the benchmark interest rate at the level of 5.75 percent at the RDG BI meeting," he added.

Phintraco Sekuritas predicts the JCI today has the potential to test levels of 6,550 - 6,600, if the JCI is able to survive above the psychological level of 6,500.

According to Phintraco Sekuritas, the stocks that can be considered today are PT Bank Mandiri Tbk (BMRI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Semen Indonesia Tbk (SMGR), PT Indah Kiat Pulp & Paper Tbk (INKP), and PT Unilever Indonesia Tbk (UNVR).