JAKARTA - The Composite Stock Price Index (JCI) is projected to move consolidated in today's trading, Wednesday, July 2. Phintraco Sekuritas in its research predicts the JCI will move in the range of 7.000 resistance, 6,950 pivot, and 6,800 support today.
Phintraco Sekuritas said the JCI closed down 0.18 percent to the level of 6,915.36 on Tuesday, after moving higher at the beginning of the session. Financial statements of several state-owned banks that recorded a decline in profits as of May 2025 were one of the reasons that triggered investors to profit-taking.
"In addition, it is suspected that investors tend to conduct short-term trading, ahead of the massive IPO offering period," wrote Phintraco Sekuritas.
Phintraco Sekuritas added that the State Budget's performance report until the first semester of 2025 showed state revenues reached Rp1.201 trillion and it is estimated that it will only reach Rp2.5.5 trillion or 95.4 percent of the target by the end of the year.
Meanwhile, state spending in the first semester of 2025 reached IDR 1,407 trillion and is estimated to reach IDR 3,527.5 trillion (97.4 percent) of the target by the end of the year. So that the APBN deficit is estimated to reach 2.78 percent of GDP, higher than the target of 2.53 percent of GDP.
"In addition, economic growth is expected to grow 4.8-5 percent, below the 5.2 percent target," explained Phintraco Sekuritas.
Phintraco Sekuritas added that the realization of the APBN, which was below its original target until the first semester, was higher in June inflation than expected.
"In addition, there is still uncertainty in the import rate, it is estimated that it will be a negative factor for today's JCI movement," added Phintraco Sekuritas.
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Technically, Phintraco Sekuritas predicts the JCI today tends to consolidate in the range of 6,840-7,000, waiting for a new catalyst to determine its direction.
"As long as there is no breakout from the area, index movements tend to be limited and prone to technical pullback," said Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are MEDC, MAPA, UNVR, MYOR, and INDF.
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