JCI Edges Up 0.12% to 7,080 Level
Jakarta, CNBC Indonesia - The Composite Stock Price Index (JCI) moved into positive territory today, Wednesday (29/4/2026). The JCI rose 8.24 points or 0.12% to the level of 7,080.63. A total of 362 stocks advanced, 303 declined, and 147 remained unchanged.
The morning trading value reached Rp8.41 trillion, involving 26.88 million shares in 1.47 transactions. Market capitalisation also increased to Rp12,620 trillion.
The primary consumer, industrial, and financial sectors recorded the largest gains, while the health, basic materials, and energy sectors experienced the deepest corrections.
Several stocks driving the JCI’s performance included IMPC, GOTO, APIC, TLKM, and BMRI.
Entering Wednesday’s trading (29/4/2026), domestic financial market participants will be watching several important external sentiments. The main focus of the market today is on the latest developments in US-Iran negotiations, the direction of global oil prices, the Bank of Japan’s (BOJ) decision, and The Federal Reserve’s interest rate decision.
US President Donald Trump is reportedly dissatisfied with Iran’s latest proposal to end the war that has been ongoing for about two months.
Iran’s latest proposal reportedly seeks to postpone discussions on its nuclear programme until the war ends and issues regarding shipping routes in the Gulf are resolved first. However, this position is difficult for Washington to accept, as the US wants Iran’s nuclear issue addressed from the start of the negotiation process.
A US official stated that Trump is unhappy with the proposal because Iran wants to set aside discussions on the nuclear programme initially. Meanwhile, the White House emphasised that it will not negotiate through the media and stated that the US has been clear about its red lines.
The next major sentiment comes from the US central bank. The Federal Reserve is holding a two-day Federal Open Market Committee (FOMC) meeting on Tuesday-Wednesday (28-29 April 2026).
The Fed’s interest rate decision will be announced on Wednesday evening US time, or Thursday early morning Indonesian time.
This agenda is one of the most important sentiments for global markets, as it will determine the direction of the US dollar, US bond yields, and investor risk appetite towards emerging market assets.
Based on the CME FedWatch Tool, market participants fully expect the Fed to hold its benchmark interest rate. The probability of the Fed maintaining its current rate level of 3.50%-3.75% is recorded at 100% for this April FOMC.
This expectation arises because US inflation remains above the Fed’s target. On the other hand, the surge in energy prices due to the Middle East conflict makes it difficult for the US central bank to move too quickly to ease policy.
Meanwhile, the UAE has officially withdrawn from OPEC on Tuesday, shaking up the global oil producers’ group amid the energy crisis caused by the Iran war. This move is seen as weakening OPEC’s influence while widening the gap between Abu Dhabi and Saudi Arabia as de facto leaders of the oil cartel.
The UAE’s exit opens the door for the country to increase production once Gulf export routes return to normal, as it is no longer bound by OPEC quotas. UAE Energy Minister Suhail Al Mazrouei stated that the decision was taken after reviewing the national energy strategy and future global energy needs.
Analysts assess that this step could pressure oil prices in the medium term because the UAE has a large spare production capacity, one of the largest after Saudi Arabia. If the UAE pumps more oil, Riyadh’s dominance in maintaining market balance could begin to be disrupted.
This decision also underscores the increasingly open rivalry between the UAE and Saudi Arabia, from oil policies to competing for investments and influence in the Gulf region.