JCI Slumps Today, Prajogo's Stocks Exert the Greatest Pressure

Jakarta, CNBC Indonesia — The Composite Stock Price Index (JCI) closed in the red zone today, Monday (20/4/2026). The index fell 39.89 points or -0.52% to the level of 7,594.11.

446 stocks declined, 263 rose, and 250 remained unchanged. The transaction value reached Rp16.61 trillion, involving 38.15 billion shares in 2.42 million transactions. Market capitalisation also dropped to Rp13,534 trillion.

At the start of trading today, the JCI initially advanced convincingly. It opened up 0.39% and even touched the daily high of 7,692.15.

However, towards the end of session 1, the JCI faced pressure and eventually parked in the red zone during the lunch break. The correction continued in session 2 and briefly hit the lowest point of 7,570.43.

Citing Refinitiv, the JCI’s decline today was mainly due to corrections in several Prajogo Pangestu issuers. Barito Renewables Energy (BREN), which fell 0.38%, dragged the JCI by -10.14 points.

Then Barito Pacific (BRPT), which dropped 4.04%, contributed -3.94 index points. Chandra Asri Pacific (TPIA) also entered the list of top laggards with a contribution of -2.07 index points.

On the other hand, Bumi Resources Minerals (BRMS) tried to pull the JCI upwards. This Bakrie-owned issuer contributed 7.5 index points.

In addition, there was movement in Abadi Nusantara Hijau Investama (PACK) shares, which suddenly entered the list of the top 10 stocks by transaction value. PACK recorded total transactions worth Rp852 billion. This stock has come under investor attention alongside a rise of more than 60% since the beginning of the month.

Indonesia’s financial markets are expected to remain volatile throughout this week after Iran re-blockaded the Strait of Hormuz following a temporary ceasefire announcement.

Beyond the war dynamics, market participants will focus on the Bank Indonesia interest rate decision to be announced on Wednesday this week.

Shipments through the Strait of Hormuz came to a complete halt on Sunday after Iran reasserted control over the strategic waterway, which is key to global energy supplies, just days before a fragile ceasefire with the United States is scheduled to end.

Iran’s chief negotiator said the latest talks with the US showed progress, while President Donald Trump described there as “very good conversations” with Tehran.