JCI Opens 0.35% Higher This Morning, Holding Above 5,900 Level

The Jakarta Composite Index (JCI) opened higher at the start of trading on Tuesday (7/7/2026), extending gains from the previous session amid market optimism over the prospects for the domestic stock market. According to data from the Indonesia Stock Exchange (BEI) via IDX Mobile as of 09:00 WIB, the JCI stood at 5,936.97, up 20.90 points or 0.35% from the previous close of 5,916.07. Transaction value was recorded at Rp177.6 billion, with a trading volume reaching 246.4 million shares across 28,720 transactions. A total of 282 stocks were in the green, while 73 stocks weakened and 606 remained stagnant, indicating that the majority of traded shares moved higher at the start of the session. The JCI’s morning strengthening continued the rally from Monday’s trading, when the index closed 0.69% higher at 5,916.07. However, during the previous session, foreign investors still recorded a net sell of Rp190.9 billion across all markets. The JCI has rebounded from its lower area, but the recovery is not yet strong enough to be considered a definitive turnaround. The rise from the June low suggests selling pressure is easing, but the market has yet to receive significant confirmation from more critical factors: foreign flow, the rupiah, the BI Rate, the trade balance, and technical momentum. Technically, the key level for the JCI is around 6,450. Until the index can achieve a weekly close above 6,450 with a strong candle, the potential for further gains remains unconfirmed. This area serves as the dividing line between a mere rebound and a more serious trend change. As long as this level is not breached, the most plausible scenario is that the JCI will move sideways for some time. Important support lies at 5,650, followed by the 5,300-5,400 range. If this support holds, the JCI could build a base; however, if it is broken, the risk of a retest of the lows remains open. Meanwhile, Brent crude oil prices were trading at US$71.99 per barrel on Monday, down 0.18%. West Texas Intermediate (WTI) crude closed at US$68.55 per barrel, a decline of 0.2%, marking its lowest position since 27 February 2026, or a four-month low, just before the Iran conflict erupted. The decline occurred as shipping traffic through the Strait of Hormuz continued to recover and OPEC+ signalled an increase in global oil supply. OPEC+ member countries agreed to raise production quotas by 188,000 barrels per day for the coming month, continuing the gradual unwinding of long-standing production cuts as market conditions improve. On the currency front, the US dollar index weakened to 100.853, its lowest level since 19 June 2026. The softening of the index signals that investors are selling the US dollar, with expectations that they will rotate into emerging market instruments, including the rupiah.