JCI On Thursday Has The Opportunity To Weaken Again, But These Five Shares Have The Potential To Give Money

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue to weaken in today's trading, Thursday, October 23. Phintraco Sekuritas in its research estimates the index will move in the resistance range 8,200, 8,150 pivot, and 8,050 support.

The JCI closed lower yesterday at the level of 8.152.55 (1.04 percent). The weakening of the index was partly due to profit taking triggered by the correction of the majority index in the Asian stock exchange as well as the decision of the BI RDG which maintains a fixed interest rate.

Not only that, the correction of gold commodity prices also encourages weakening of gold commodity-based stocks, "wrote Phintraco Sekuritas.

The basic material sector shares recorded the largest correction, while the property sector shares posted the largest strengthening. Although the BI rate remains, the property sector shares received positive sentiment from the government's plan to extend the DTP VAT incentives in the housing sector until December 2027.

Outside the consensus, RDG BI maintains the BI rate to remain at the level of 4.75 percent, with the deposit facility rate remaining at 3.75 percent and the lending facility rate remaining at 5.5 percent. This decision is in line with inflation which is still under control in BI's target, efforts to maintain the stability of the rupiah exchange rate and to encourage economic growth.

Previously, BI had lowered the total BI rate by 125 bps this year to 4.75 percent, which is the lowest level since 2022. Credit growth in September of 7.7 percent YoY, slightly improved from 7.56 percent YoY in August 2025.

Technically, Phintraco Sekuritas explained, in the medium-long term, the JCI is still in the bullish phase because it is above the MA100 and MA200 levels. However, in the short term, the JCI is expected to test the MA20 level around the 8,121 level.

In addition, continued Phintraco Sekuritas, there is a nearby gap down at 8,117.

"Thus, today's JCI is predicted to tend to weaken in the range of 8,050-8,200," explained Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are BUMI, PTPP, PANI, ELSA and INTP.