JCI Plunges 1.22% Ahead of MSCI Rebalancing Announcement

JAKARTA, KOMPAS.com - The Composite Stock Price Index (JCI) continued to move in negative territory in early trading on Tuesday (12/5/2026). The index weakened by 83.93 points or 1.22 per cent to the level of 6,821.68 at 09:54 WIB.

The pressure on the JCI occurred ahead of the announcement of the global index rebalancing results by Morgan Stanley Capital International (MSCI) on Tuesday US time.

Based on data from the Indonesia Stock Exchange (BEI), intense selling pressure caused the index to hit a low of 6,815.60, after previously opening higher at 6,946.84 and briefly reaching a high of 6,977.28.

The majority of stocks were in a weakening zone. As many as 430 stocks declined, only 185 stocks strengthened, and 121 stocks remained stagnant.

Nafan Aji Gusta, Senior Market Analyst at Mirae Asset Sekuritas, stated that the JCI currently shows a bullish divergence signal on the Relative Strength Index (RSI) indicator, although the price movement is still forming a downward pattern or downward bar.

This condition indicates that selling pressure is starting to weaken even though the index is still moving lower.

For information, RSI is a momentum indicator in technical analysis that measures the speed and change of price movements to identify overbought or oversold conditions.

“The JCI is in a bullish divergence condition based on the RSI indicator although it is still forming a downward pattern (downward bar),” said Nafan when contacted by Kompas.com on Tuesday morning.

However, the RSI position which is already in the oversold area opens up the possibility of a technical rebound if positive sentiment emerges or buying action occurs in large-cap stocks.

“Based on technical indicators, the stochastic K_D signal is still negative and trading volume is declining, but the RSI is already in the oversold area,” he explained.