JCI Continues Rally, Strengthens 0.91% to 6,231 Level

The Jakarta Composite Index (JCI) strengthened nearly 1% at the close of trading on Monday, rising 56.24 points to end at 6,231.78. The rally was driven by buying activity across most sectors, according to data from the Indonesia Stock Exchange (BEI) via IDX Mobile. Market breadth was positive, with 399 stocks advancing, 210 declining, and 185 remaining unchanged. Total transaction value reached Rp 17.16 trillion, with a trading volume of 35.57 billion shares across 2.39 million transactions. Quoting Refinitiv data, the majority of trading sectors on the exchange posted gains, with only the industrial, technology, and utility sectors experiencing corrections. The raw materials sector rose 2.76%, energy gained 1.86%, and consumer staples increased 1.26%. Shares of Bank Rakyat Indonesia (BBRI) were the main driver of the JCI’s performance, contributing a 7.3 index point increase, followed by Barito Pacific (BRPT) with 6.09 points and Telkom Indonesia (TLKM) with 4.61 points. BBRI shares were also the most purchased by foreign investors during the first session, recording a net buy of Rp 117 billion, although overall foreign investors posted a net sell of Rp 303 billion in the capital market today. TLKM shares also saw foreign net buying of Rp 18 billion. The JCI’s strengthening occurred amid mixed movements in Asian markets. Investors are still monitoring developments in the Middle East conflict, which could potentially drive energy prices higher, while also awaiting a series of interest rate decisions from several global central banks. Domestically, the main focus is on the outcome of the Bank Indonesia (BI) Board of Governors Meeting, scheduled to be announced on Wednesday. Market consensus expects BI to hold its benchmark interest rate at 5.75%, amid a stabilising rupiah and inflation remaining within the central bank’s target range. Externally, market participants are also anticipating China’s Loan Prime Rate decision, the European Central Bank’s interest rate announcement, and the release of Japan’s trade and inflation data. This series of events is expected to determine the direction of global financial market movements, including the JCI, throughout the week.