JCI Projected to Move Sideways, ICBP, NCKL, and BRMS Become Analysts' Recommended Stocks
JAKARTA - The Composite Stock Price Index (JCI) is projected to move in a limited manner with a tendency towards sideways trading on Friday (17 April 2026), after closing weaker by 0.03 per cent at the level of 7,621.382 on Thursday.
Global sentiment continues to provide room for optimism, particularly from expectations of negotiations between the United States and Iran that could ease geopolitical conflicts and suppress crude oil prices. This condition is seen as a positive catalyst for the market.
However, technical pressures are beginning to limit gains. In its research, Phintraco Sekuritas states that the JCI’s position in the overbought area increases the potential for profit-taking.
“Technically, the JCI’s condition remaining in the overbought area is driving profit-taking. Therefore, the JCI is expected to continue moving sideways in the range of 7,550-7,700,” wrote Phintraco Sekuritas in its review on Thursday (16 April 2026).
Amid global geopolitical uncertainties and concerns over domestic economic prospects, the Bank Indonesia Rupiah Securities (SRBI) instrument has become one of the primary choices for investors. This instrument is considered attractive due to its relatively high returns amid market volatility.
Recent pressures on the rupiah have also prompted Bank Indonesia (BI) to strengthen stabilisation measures. One of them is through market interventions and optimisation of SRBI as a liquidity absorption instrument.
BI has even increased the frequency of SRBI auctions from once to twice a week since February 2026, to maintain exchange rate stability amid the rupiah’s depreciation trend.
Meanwhile, inflation in the Eurozone rose to 2.6 per cent year-on-year (YoY) in March 2026, up from 1.9 per cent in February 2026. This increase was driven by a surge in energy costs and marks the highest level since July 2024.
Phintraco Sekuritas also recommends several stocks for investors to monitor for trading on Friday’s session, namely PT Indofood CBP Sukses Makmur Tbk (ICBP), PT Indocement Tunggal Prakarsa Tbk (INTP), PT Mayora Indah Tbk (MYOR), PT Elang Mahkota Teknologi Tbk (EMTK), and PT Trimegah Bangun Persada Tbk (NCKL).