JAKARTA - The Composite Stock Price Index (JCI) is predicted to consolidate in today's trading, Thursday, April 23, after yesterday closed down 0.23 percent to 7,541.6.
Phintraco Sekuritas in its research said that the extension of the US-Iran ceasefire without a time limit on the one hand was a positive factor because the war had temporarily subsided. However, on the other hand, it resulted in extending uncertainty.
A prolonged closure of the Strait of Hormuz would keep crude oil prices at high levels for a long time, thereby increasing energy costs that could increase the burden on governments, companies and communities.
Technically, the JCI has not been able to break through the MA5 at around the level of 7,591 along with the positive movement of the histogram on the MACD which continues to shrink, as well as the stochastic RSI indicator which is in the overbought area.
"So we estimate that the JCI has the potential to consolidate in the range of 7,500-7,600 on Thursday's trading," wrote Phintraco Securities.
As expected, BI maintained the BI Rate 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 still consistent to strengthen the stabilization of the rupiah exchange rate which tends to weaken due to high global uncertainty. Meanwhile, the credit growth rate was recorded at 9.49 percent YoY in March 2026 from 9.37 percent in February 2026.
Phintraco Sekuritas recommends five stocks for today, namely BBTN, PNLF, MIDI, ASII, and RAJA.
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