JAKARTA - The composite stock price index (JCI) will still consolidate in the range of 6,900-7,050, in trading, today, Wednesday, April 8, after yesterday closed 0.26 percent lower to 6,971.
Phintraco Sekuritas in its research said that the JCI had fluctuated amid geopolitical uncertainty in the Middle East ahead of the deadline set by President Trump for Iran to reopen shipping lanes in the Strait of Hormuz.
Uncertainty regarding whether there will be a ceasefire between the US and Iran is also a negative factor. However, there was a bargain hunting for some stocks that were considered to have corrected too deeply.
Shares of the industrial sector experienced the largest decline (2.63 percent), while shares of the infrastructure sector posted the largest increase (0.76 percent).
Asian stock indexes closed mixed on Tuesday, as investors kept an eye on the US-Iran conflict and the potential for a possible ceasefire.
Meanwhile, the futures index on Wall Street exchanges moved lower as Trump's deadline for Iran to immediately open the Strait of Hormuz or the US would attack Iranian infrastructure approached.
Phintraco Sekuritas explained that technically, the Stochastic RSI indicator is approaching the overbought area, but the formation of a positive MACD histogram is still continuing.
"So it is estimated that the JCI will still consolidate in the range of 6,900-7,050," wrote Phintraco Sekuritas.
Meanwhile, the Indonesia Stock Exchange (IDX) is taking steps to improve trading infrastructure to improve the quality of transactions in the Indonesian capital market.
BEI is optimistic that the evaluation process for the trading system with the Full Call Auction (FCA) scheme can be completed in 2Q26.
The evaluation of the FCA scheme is not a partial step, but an integral part of the ongoing agenda of major reform of the Indonesian capital market.
Phintraco Sekuritas recommends five stocks for today, namely ESSA, AKRA, BRPT, CPIN and JPFA.
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