JCI Is Projected To Continue Weakening On The Range Of 7,400-7,550

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue its weakening in today's trading, Friday, July 31. Phintraco Sekuritas in his research said that some external sentiment would still be a factor in today's index movement.

JCI closed down 0.87 percent to a level of 7,484 in trading last Thursday. According to Phintraco Sekuritas, this continued weakening was triggered by profit-taking, the deteriorating financial performance of several issuers, and technical conditions.

Technically, the Stochastic RSI indicates a bearish reversal accompanied by an increasing selling volume pressure. Shares of the infrastructure sector experienced the largest decline, while noncyclical sector stocks recorded the largest strengthening.

The infrastructure sector recorded the deepest correction, which was 3.00 percent. On the other hand, non-cyclical consumers became the strongest sector with an increase of 0.57 percent in yesterday's trading.

Phintraco Sekuritas projects that the JCI support level today will be at 7,400, while resistance at 7,550. One of its sentiments will still come from the Japan Central Bank's decision to maintain the benchmark interest rate at the level of 0.5 percent, which is the highest level since 2008. Then there is also the Japanese consumer confidence index in July which also fell at the level of 33.7 from 34.5 in June 2025.

"BoJ revised the increase in inflation projections for 2025 to 2.7 percent YoY from the previous projection of 2.2 percent YoY, for the projected economic growth in 2025 it was also increased to 0.6 percent YoY from 0.5 percent YoY previously," he explained.

Meanwhile, from China, China's NBS Manufacturing in July 2025 fell slightly to 49.3 from 49.7. This sentiment will accompany today's market dynamics.

From domestic, the Indonesian stock market will look forward to inflation data in July 2025 which according to consensus rose to 2.24 percent YoY from 1.87 percent YoY in June. Meanwhile, market forecasts, monthly inflation is expected to rise to 0.21 percent MoM from 0.19 percent MoM.

"Meanwhile, trade balance data in June 2025 is estimated to record a surplus of US$3.55 billion from US$4.3 billion in May 2025," he added.

The stocks recommended by Phintraco Sekuritas today are PANI, MAPI, MAPA, AMRT, and INTP.