TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the beginning of this week's trading, Monday, June 29, 2026, closed at 5,820.79, or down 1.28 percent compared to the previous closing. The movement of JCI during this week is predicted to still be in a downtrend.
Citing data from the Indonesia Stock Exchange (IDX) until the end of the day, the total value of stock trading transactions until the last session only reached Rp9.1 trillion. The trading frequency was recorded at 1.23 million times and the trading volume at 15.48 billion shares.
Meanwhile, throughout last week's trading, the Jakarta Composite Index (JCI) fell 4.55 percent to the level of 5,896.13 from the position of 6,177.13 the previous week. The decrease was followed by a decline in BEI market capitalization from Rp10.788 trillion to Rp10.302 trillion.
Equity Analyst of PT Indo Premier Sekuritas (IPOT), Brigita Kinari, stated that this correction was triggered by massive selling actions by foreign investors, with net foreign sells reaching Rp3.19 trillion in the regular market. This note 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 that the movement of JCI will be in a medium-term downtrend, although it has experienced a reversal or rebound from the lowest level of 5,318. She explained that several technical indicators also show that the strengthening momentum is starting to be limited. "So JCI has the opportunity to test the support area of 5,700-5,800 next week," said Brigita in a written statement on Monday, June 29, 2026.
Brigita stated that as long as the support can be maintained, the index movement is estimated to still consolidate in the range of 5,500-6,400. The reversal of the trend to become a new bullish will be formed if IHSG is able to close the weekly trade above the level of 6,452.
Although there is positive sentiment from the improvement of consumer sentiment data and inflation in the United States, the market this week is still overshadowed by caution. Especially after the President of the regional Central Bank of the United States, Fed Minneapolis, Neel Kashkari, hinted at the potential for a hike in interest rates due to the re-emergence of tension in the Middle East, as well as a drop in oil prices despite the issue of a ceasefire violation by Iran.
From the domestic side, the sentiment affecting this week is that domestic market participants are still expected to be cautious amidst various conflicting sentiments. Brigita explained that investor attention will be focused on a series of key macroeconomic data in the first half, ranging from inflation, trade balance, consumer confidence levels, to the Bank Indonesia benchmark interest rate decision in mid-July.
In addition, the plan for budget efficiency for Free Nutritious Meal (MBG) program, energy subsidy savings, and various policy reform measures that are considered to improve perceptions of Indonesia's fiscal condition. "However, market participants will still pay attention to the effectiveness of the policy implementation and await further assessment from credit rating agencies," she said.
Read: Indonesia's JCI Drops 4.55 Percent as Foreign Selling Continues
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