JCI Opens Weaker at 7,214, Pressured After Yesterday's Sharp Rally

JAKARTA – The Composite Stock Price Index (JCI) opened weaker during trading on Thursday (9/4/2026). According to data from the Indonesia Stock Exchange (BEI) around 09:12 WIB, the JCI fell 64.93 points or 0.89% to the level of 7,214.28. At the start of the session, the JCI opened at 7,238.46 and briefly reached a high of 7,244.83 and a low of 7,191.59. Trading volume was recorded at 4.209 billion shares with a transaction value of Rp 2.324 trillion and a frequency of 312,700 times. A total of 221 stocks rose, 333 fell, and 404 were unchanged. The KOMPAS100 fell 11.58 points or 1.15% to 994.79, while the ISSI weakened 1.64 points or 0.63% to 259.00. The IDX30 dropped 4.69 points or 1.18% to 394.09, and the JII70 corrected 1.44 points or 0.76% to 188.05. For context, in the previous trading session on Wednesday (8/4/2026), the JCI surged 4.42% to 7,279.21. This sharp rise reflected the market’s high sensitivity to global geopolitical dynamics. The strengthening was triggered by the decision of US President Donald Trump to postpone plans for an attack on Iran for two weeks, thereby easing market concerns over potential disruptions to global energy supplies, especially after the Strait of Hormuz was reopened. The impact was evident in the drop of oil prices below $100 per barrel, the strengthening of the rupiah, and increased investor interest in risk assets such as stocks. “This created a relief rally that drove almost all sectors higher, particularly the basic industry sector which jumped significantly,” said Hendra. Nevertheless, he cautioned that the strengthening was more influenced by short-term sentiment than by strong fundamental changes. As long as the ceasefire is temporary and dependent on political dynamics, market volatility is expected to remain high. From a technical perspective, the JCI is currently in a crucial phase. As long as it can hold above the 7,200 level, the opportunity for strengthening towards the 7,320–7,350 area remains open. However, if it fails to hold, the index risks returning to the 7,000–7,100 consolidation area.