JCI has the potential to rise again, see the recommendations for shares

Photo: Antara

JAKARTA - The composite stock price index (JCI) has the potential to consolidate in today's trading, Wednesday, February 4, after yesterday's 2.52 percent to the level of 8,122.6.

Phintraco Sekuritas in its research explained that the rebound of the JCI was driven by the strengthening of the index on the Asian stock exchange, the rebound in commodity prices, as well as the hope that the Indonesian capital market will recover in line with the planned reform steps, meetings with authorities with MSCI, and bargain hunting against stocks that are considered relatively cheap.

All sectors posted an increase, with the largest strengthening in the raw materials sector. The rupiah also closed stronger at Rp16,754 per US dollar in the spot market, Tuesday.

"Technically, the Stochastic RSI of the JCI formed a Golden Cross in the oversold area. The JCI briefly broke through the MA200 level before finally closing above the MA200 level and above the psychological level of 8,000. So the JCI is expected to have the potential to consolidate in the range of 7,950-8,400," wrote Phintraco Sekuritas.

The majority of indices on the Asian stock exchange closed higher on Tuesday triggered by news of a trade agreement between the US and India. The Kospi index led the index strengthening and briefly triggered a temporary suspension of purchase orders.

The leading stocks strengthened sharply after experiencing a decline in Monday's trading. Gold and silver prices also rebounded on Tuesday after experiencing massive selling for two days.

The massive correction of gold and silver is suspected to be more of a position adjustment than a sustained decline.

Then from Europe, investors will look at January 2026 inflation data which is expected to slow to 1.8 percent YoY from 1.9 percent YoY in December 2025 on Wednesday.

Meanwhile, from the US, the ISM Service PMI index for January 2026 will be released, which is expected to be relatively stable at 54.3 from 54.4 in December 2025.

The stocks recommended by Phintraco Sekuritas today include ASII, ICBP, MAPI, CUAN and MDKA.