JCI Plummets 4 Per Cent, MNC Sekuritas Predicts Continued Downtrend

Research from MNC Sekuritas notes that pressure on the domestic stock market is intensifying, with foreign capital outflows from the JCI reaching Rp55.37 trillion as of 2 June 2026. Additionally, the weakening of large-cap conglomerate stocks has further deepened the index’s correction.

During Wednesday (3/6/2026) midday trading, the Jakarta Composite Index (JCI) fell by more than 4 per cent. The primary factors weighing on the index are the depreciation of the Rupiah, which is approaching the level of Rp18,000 per US Dollar, and the heavy outflow of foreign funds from the stock market.

At 11:10 WIB, the JCI plummeted by 255.71 points, or 4.13 per cent, to the level of 5,939.71. Simultaneously, the Rupiah exchange rate was trading around Rp17,928 per US Dollar.

MNC Sekuritas analyst Herditya Wicaksana assessed that the weakening Rupiah is the main sentiment burdenng the domestic stock market. According to him, this condition has triggered investor concerns regarding the economic prospects and domestic financial assets.

“We expect the current correction in the JCI to be caused by the weakening of the Rupiah against the US Dollar, which has now reached Rp17,928 per US Dollar,” said Herditya.

According to Herditya, several conglomerate stocks had previously strengthened sharply over the last two days, with some even hitting the upper auto-reject limit (ARA). However, this strength did not persist and instead turned into pressure for the JCI.

“On the other hand, the movement of the JCI is being burdened by conglomerate issuers that had moved significantly higher over the past two days, even experiencing auto-reject upper limits (ARA),” he added.

From a technical perspective, Herditya observed that the room for market recovery remains limited. He assessed that the JCI remains in a downward trend and has not yet shown a strong signal of reversal.