JCI Closes Down 43 Points Amid Rumours of Non-Subsidised Fuel Price Hike
Jakarta, VIVA - The Composite Stock Price Index (JCI) experienced a deeper decline in trading at the end of March. The JCI dropped 0.61 per cent or 43.45 points to the level of 7,048.22 at the market close on Tuesday, 31 March 2026.
Based on observations from VIVA on Stockbit, the JCI soared to touch the 7,149 area at the start of the trading session. However, the index moved fluctuantly with dominance in the red zone until it briefly plunged to 7,034 near the market close.
The transaction value was recorded at Rp14.97 trillion with a daily transaction volume of 272.6 million shares. Meanwhile, trading activity amounted to 1.5 million transactions.
“The JCI initially strengthened at the start of the session but experienced a correction again, suspected due to investors tending to realise short-term profits amid still high uncertainty,” explained the Phintraco Sekuritas Analysis Team in its daily research on Tuesday, 31 March 2026.
The transportation sector plunged the most at 4.60 per cent, followed by a correction in the energy sector at 2.75 per cent, then the technology sector eroded by 1.31 per cent. Declines also hit the industrial sector by 1.20 per cent, the financial sector weakened by 0.53 per cent, the infrastructure sector weakened by 0.46 per cent, and the cyclical consumer sector shrank by 0.45 per cent.
The non-cyclical consumer sector surged 1.48 per cent, the health sector rose 0.62 per cent, and the property sector strengthened 0.49 per cent.
“Technically, the JCI is expected to continue moving sideways in the range of 6,900 to 7,150,” continued the Phintraco Sekuritas Analyst.
The Phintraco Sekuritas Analysis Team mentioned the statement from the State Secretary Minister, Prasetyo Hadi, stating that Pertamina will not raise subsidised and non-subsidised fuel oil (BBM) as a sentiment overshadowing the index’s movement. The response comes amid viral information on the estimated non-subsidised BBM price hike on 1 April 2026.
Investors are also awaiting several domestic economic data releases on Wednesday, 1 April 2026, ranging from the Manufacturing PMI index, trade balance, to inflation throughout March 2026.
Phintraco Sekuritas reported that three issuers successfully booked significant price jumps despite the JCI correction. Here are the three top gainers in the ranks of the 45 leading stocks (LQ45).
PT Merdeka Battery Materials Tbk (MBMA)
MBMA shares jumped 7.35 per cent or 50 points to 730.
Indofood Sukses Makmur Tbk (INDF)
INDF shares strengthened 6.72 per cent or 400 points to breach the 6,350 level.
PT Sumber Alfaria Trijaya Tbk (AMRT)
AMRT shares rose by 5.34 per cent or 75 points and closed at the 1,480 level.