JCI Set to Test 6,700 Level; Three Stocks Identified for Potential Gains
The Jakarta Composite Index (JCI) is predicted to experience limited strengthening in trading on Friday (4/9/2026).
In Thursday’s (3/9/2026) trading, the JCI closed up by 72.11 points or 1.09% to the 6,667 level. The transportation sector was the strongest performer, rising 2.45%, while the technology sector was the weakest, falling 1.62%.
“Based on technical analysis, we see the JCI has the potential for limited strengthening with support and resistance at 6,600-6,710,” wrote Pilarmas Investindo Sekuritas in its review on Friday (4/9/2026).
Pilarmas explained that the US ISM Services Index rose from a previous 54.1 to 55.4, reaching its highest level in four years. Interestingly, this increase occurred alongside a rise in the US ISM Services Prices Paid from 54.1 to 55.4, marking the highest level for raw materials since mid-2022. This surge in demand is supported by robust business activity.
This strong demand is reflected in the US ISM Services New Orders, which rose from 57.2 to 60.9, the strongest increase since 2023. So far, 12 service industries reported growth in August, including mining, real estate, and accommodation and food services, while five other industries experienced contraction.
The strengthening of the US service industry is driven by resilient consumer purchasing power, a stable labour market, and healthy business investment. However, these sectors must face supply chain disruptions, tariffs, and rising costs across the economy, which has driven up raw material prices and raised concerns regarding future demand.
Notably, despite these challenges, the US ISM Services Employment index rose from 47.4 to 47.8. This is viewed as a positive indicator for the future, as demand remains strong despite pressures from geopolitical uncertainty and raw material costs.
This trend is expected to impact businesses in the near future, particularly regarding employment. Additionally, the use of AI in business is increasing, especially in capital investment for transmission services, which is seen as a positive driver for corporate productivity.
Pilarmas revealed that alongside this encouraging data, further positive sentiment came from Christopher Waller, who stated his willingness to support stable interest rate policies if inflationary pressures show signs of easing. The Federal Reserve’s next decision will be heavily influenced by August inflation data to be released next week. Although inflation projections may rise, Waller remains optimistic that inflationary pressures will subside.
Waller indicated that the Fed is more inclined to maintain current interest rates rather than raising them in September, though the Fed acknowledges the situation remains tight and subject to change based on upcoming inflation data. Furthermore, Waller expressed hope that employment data would be sufficient to assist the Fed in its decision-making process.
“With good data and supported by positive sentiment, we see the JCI and the bond market moving higher today,” wrote Pilarmas.
On the domestic front, the government intends to strengthen oversight through the Ministry of Finance and assign regional officials to monitor the Free Nutritious Meal (MBG) programme to ensure efficient implementation.
“We assess that the plan to increase budget efficiency for the MBG programme to below Rp 200 trillion is a positive signal for the government’s fiscal management,” said Pilarmas. With the previous allocation at approximately Rp 240 trillion, potential savings of over Rp 40 trillion could provide additional fiscal space for the government to fund other priority programmes, manage the deficit, or reduce pressure on national financing needs.
Regarding the programme, Pilarmas noted that efficiency should not merely be interpreted as budget cuts, but as increasing the effectiveness of every rupiah spent. Utilising technology, digitising distribution, improving supply chains, and monitoring the programme can help reduce potential leakages and operational costs without compromising food quality or the number of beneficiaries.
However, the government must ensure that these savings do not impact the nutritional quality or the accuracy of the MBG programme’s targets. As the programme has long-term impacts on human resource quality, success should not be measured solely by budget reductions, but by the quality of service and benefits received by the community.
For the market, MBG efficiency could serve as a positive sentiment for fiscal management credibility, particularly if savings are achieved structurally and sustainably. Greater fiscal space could provide the government with the flexibility to address other spending needs and maintain the health of the state budget (APBN). Nevertheless, investors will continue to monitor the actual implementation of these efficiencies to ensure savings stem from increased productivity rather than mere delays or reductions in programme scope.
Pilarmas Investindo Sekuritas recommends RATU, ISAT, and HRUM stocks for trading on Friday (4/9/2026).