JCI Predicted To Weaken Before Long Weekend, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to weaken again in today's trading, Thursday, June 26, after yesterday's decline of 0.54 percent or 37.03 points to the level of 6,832.143.

Yesterday's weakening of the JCI occurred amid pressure on big caps, especially from the banking sector. Based on data from the Indonesia Stock Exchange (IDX), as many as 401 stocks were recorded to have weakened, 212 stocks rose, and 186 were stagnant. Trading volume reached 22.6 billion shares with a transaction value of Rp12.98 trillion.

Phintraco Sekuritas in his research assessed that the weakening of the JCI was also influenced by short-term profit-taking by investors ahead of the long weekend holiday, amidst global uncertainty that was still high.

The market is still waiting and seeing, especially regarding the sustainability of the ceasefire between Iran and Israel, explained Phintraco Sekuritas.

As for this Thursday, Phintraco Sekuritas projects that the JCI will fluctuate in the range of 6,750-6,900. On the other hand, towards the end of the first semester of 2025, market participants began to anticipate issuer financial performance reports.

"The rise of the initial public offering (IPO) at the same time helped suppress liquidity in the regular market," explained Phintraco Sekuritas.

From a global perspective, the Asian exchange closed variatively but tended to strengthen on Wednesday, as hopes grew over Iran-Israel's ceasefire continued as well as market responses to the Fed's latest statement.

The European Stock Exchange was also opened to strengthen after the NATO Summit in the Netherlands (24' June 25) approved an increase in the military budget to 5 percent of GDP by 2035, according to the United States' push.

The stocks recommended by Phintraco Sekuritas today are MAIN, ARTO, TOWR, MTEL, and ULTJ.