JCI Falls 19% Since Year-End, Retail Investors Urged to Be More Selective

Pressure in the stock market continues. The Composite Stock Price Index (JCI) fell to 6,956.80 in the past week, weakening by 2.52%. Throughout 2026, the decline has reached 19.55% from the year-end position last year.

Amid this weakening, foreign investors recorded net sales of Rp5.8 trillion in the past week. On an accumulated basis since the beginning of the year, foreign funds that have exited amount to Rp45.38 trillion.

Equity Analyst at PT Indo Premier Sekuritas (IPOT), David Kurniawan, stated that market pressure is not only triggered by technical factors but also global conditions.

“This decline is not merely a routine technical correction; it is consistent systemic pressure,” he said, quoted on Tuesday (5/5/2026).

According to him, high interest rate policies in the United States as well as geopolitical tensions in the Middle East have led the market to a risk-off condition. This situation has impacted rising energy prices and inflationary pressures.

In such conditions, retail investors are advised to be more cautious and selective in choosing stocks. The consumer goods and transportation sectors are considered more vulnerable due to cost increases.

Conversely, commodity-based stocks such as nickel and crude palm oil (CPO) are still deemed resilient. For the coming week, the market is expected to remain under pressure with a moderate risk-off tendency. The JCI has the potential to test support levels in the range of 6,918 to 6,696.

Amid these conditions, IPOT recommends that investors monitor commodity-based stocks as well as opportunities in several issuers such as AADI, LSIP, and SSIA. In addition, bond instruments like the FR106 series are also considered attractive as an alternative to maintain portfolio stability.