JCI Tuesday Projected to Strengthen Further, Check its Stock Recommendations

Illustration. (Photo: Dok. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue strengthening in today's trading, Tuesday, December 23, after yesterday rose 36.29 points or 0.42 percent to 8,645.84.

Phintraco Sekuritas in its research said that the strengthening of the index yesterday was in line with the increasing external sentiment, starting from the geopolitical tension between the United States and Venezuela which pushed up commodity prices.

"These geopolitical tensions also encourage the strengthening of the US dollar index, which has an impact on the weakening of the rupiah," explained Phintraco Securities.

The rupiah on Monday's trading closed at a weaker spot market level of Rp16,777 per US dollar, as the US dollar strengthened globally.

From a technical perspective, the JCI closed below the 5-day moving average (MA5), but still remained above the MA20. The Stochastic RSI indicator is still in the oversold area, with buying volume starting to show an increase.

"With this condition, the JCI is expected to have the potential to move stronger to test the area of 8,680 to 8,700," explained Phintraco Sekuritas.

From within the country, positive sentiment comes from the growth of liquidity. Broad money (M2) in November 2025 grew 8.3 percent year-on-year (YoY), higher than October 2025 which was 7.7 percent YoY. This growth was driven by an increase in rupiah savings, net bills to the government, credit distribution, and net foreign assets.

From the outside, the People's Bank of China (PBOC) maintained the 1-year and 5-year loan rates at 3% and 3.5% levels in December 2025, respectively. This policy indicates that there is no additional urgency for monetary stimulus to boost economic growth.

Meanwhile, from the United States, investors are looking forward to the release of October 2025 Durable Goods Orders data which is estimated to grow 0.3% on a quarterly basis, as well as the second estimate of US economic growth in the third quarter of 2025 which is projected to remain at the level of 3.2 percent.

For Tuesday's trading, Phintraco Securities recommends BUMI, DEWA, ESSA, ADMR, and INDY stocks.