JCI Plunges 1.28 Percent, What Is the Weekly Projection?

The Jakarta Composite Index (JCI) at the start of trading this week, Monday, 29 June 2026, closed at 5,820.79, plunging 1.28 percent compared to the previous close. The index’s movement this week is predicted to remain in a downward trend. Citing data from the Indonesia Stock Exchange until the end of the session, the total share transaction value reached only IDR 9.1 trillion. Trading frequency was recorded at 1.23 million times, with a trading volume of 15.48 billion shares. Throughout last week’s trading, the JCI plummeted 4.55 percent to 5,896.13 from 6,177.13 the previous week. The decline was accompanied by a drop in the IDX market capitalisation from IDR 10,788 trillion to IDR 10,302 trillion. Equity Analyst at PT Indo Premier Sekuritas (IPOT), Brigita Kinari, stated that this correction was triggered by a massive sell-off by foreign investors, with a net foreign sell of IDR 3.19 trillion in the regular market. This also reduced the average daily transaction frequency by 22.95 percent to 1.73 million times and the daily transaction volume by 26.01 percent to 25.18 billion shares. Throughout this week, IPOT predicts the JCI movement will remain in a medium-term downtrend, although it may experience a rebound from the lowest level of 5,318. She explained that several technical indicators also show that the strengthening momentum is limited. ‘Thus, the JCI has the opportunity to test the support area of 5,700–5,800 next week,’ Brigita said in a written statement on Monday, 29 June 2026. Brigita stated that as long as this support is maintained, the index movement is expected to continue consolidating in the range of 5,500–6,400. A reversal of the trend to bullish will only be formed if the JCI is able to close weekly trading above the level of 6,452. Despite positive sentiment from improving US consumer sentiment and inflation data, the market this week remains overshadowed by caution. This follows signals from Minneapolis Federal Reserve President Neel Kashkari regarding potential interest rate hikes due to renewed tensions in the Middle East, as well as a decline in oil prices despite issues of ceasefire violations by Iran. Domestically, market participants are expected to remain in a wait-and-see mode amid various conflicting sentiments. Brigita explained that investor attention will be focused on a series of key macroeconomic data for the first half of the year, ranging from inflation and the trade balance to consumer confidence levels, ahead of Bank Indonesia’s benchmark rate decision in mid-July. In addition, the planned budget efficiency for the Free Nutritious Meals (MBG) programme, energy subsidy savings, and various policy reform measures are seen as potentially improving the perception of Indonesia’s fiscal condition. ‘Nevertheless, market participants will still scrutinise the effectiveness of these policy implementations and await further assessments from credit rating agencies,’ she said.