JCI End of Week Covered by Profit Taking Action Sentiment, Check the Stock Recommendations

Illustration. (Photo: Dok. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to move sideways in today's trading, Friday, April 17, after yesterday closed slightly weaker at 0.03 percent to 7,621.3.

Phintraco Sekuritas in its research said that the hope that there will be US-Iranian negotiations that can stop the war and the decline in crude oil prices is still a positive factor.

"However, technically, the condition of the JCI which is still in the overbought area encourages profit taking. So it is estimated that the JCI will still move sideways in the range of 7,550-7,700," wrote Phintraco Sekuritas.

The rupiah closed up 0.02 percent at 17.136 per dollar, supported by the movement of regional currencies which tended to strengthen on Thursday.

In the midst of geopolitical uncertainty and concerns about domestic economic prospects, Bank Indonesia's Rupiah Securities (SRBI) instruments are one of the investment options favored by investors because they offer high returns.

The depreciation of the rupiah made BI intervene and SRBI became one of the tools to absorb rupiah liquidity and support exchange rate stability.

BI has increased the frequency of auctions from once a week to twice a week since February 2026 in the condition that the rupiah continues to weaken.

European stock market indices opened higher, following the rise in Asian stock market indices on Thursday. Investors digested the UK GDP data which grew 0.5 percent MoM in February 2026 from 0.1 percent in January 2026. This is the strongest growth since January 2024.

Euro Area inflation data increased to 2.6 percent in March 2026 from 1.9 percent YoY in February 2026. This inflation is the highest level since July 2024, mainly due to rising energy costs.

The stocks recommended by Phintraco Sekuritas today are ICBP, INTP, MYOR, EMTK and NCKL.