JCI End of Week Borpotensi Strengthen Again to the Range of 7,550-7,800

Illustration. (Photo: Dok. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to consolidate in today's trading, Friday, March 6, after yesterday closed up 1.76 percent to 7,710.

Phintraco Sekuritas in its research said that the JCI managed to rebound, driven by positive sentiment on the strengthening of global stock indices on Thursday, as well as bargain hunting even though there was also profit taking on some stocks that had experienced rallies such as oil and gas sector stocks.

The majority of indices on the Asian stock exchange also rebounded on Thursday, March 5. However, the rupiah continued to close at a weakened level of Rp16,905 per US dollar, in line with the weakening of most Asian currencies.

The primary consumer goods sector posted the largest increase, while transportation sector shares recorded the largest correction.

Phintraco Sekuritas explained technically, the Stochastic RSI indicator is in the oversold area and has the potential to experience a reversal. However, MACD is still forming a negative histogram widening.

"So it is estimated that the JCI will consolidate in the range of 7,550-7,800 levels in Friday's trading," wrote Phintraco Sekuritas.

Phintraco Sekuritas explained that investors will look forward to Indonesia's foreign exchange reserves data for February 2026, which could potentially decline again amid the continued depreciation of the rupiah, this Friday.

From the US on Friday, there are a number of important economic data to be released, namely nonfarm payrolls and unemployment rate in February 2026, as well as retail sales in January 2026.

According to the consensus, nonfarm payrolls are expected to slow to 59 thousand in February 2026 from 130 thousand in January 2026. Meanwhile, the unemployment rate is expected to stabilize at 4.3 percent.

Phintraco Sekuritas gives recommendations for TLKM, BBCA, BMRI, ESSA and ASII shares for today's trading.