IHSG Poised to Test 7,000 Level Next Week: Analyst Picks to Watch
JAKARTA — The Jakarta Composite Index (IHSG) is bracing for a potential test of the psychological 7,000 support level next week, as investors grapple with mounting global headwinds. According to data from RTI Infokom, the index fell by 3.38% to close at 7,129.49 on Friday (April 24, 2026), trading within a range of 7,111 to 7,383 throughout the session.
Market sentiment remained cautious as 670 stocks declined, significantly outpacing the 83 that gained and the 62 that remained stagnant. Consequently, the total market capitalization stood at Rp12,761 trillion.
Geopolitical Tensions Drive Market Volatility
Research analysts at Phintraco Sekuritas point to ongoing geopolitical uncertainty in the Middle East—specifically conflicts near the Strait of Hormuz—as a primary catalyst for sustained energy price inflation. Despite a three-week ceasefire agreement between Israel and Lebanon, market anxiety persists. The fading prospects for imminent negotiations between the United States and Iran further fuel concerns that commodity price volatility will continue to weigh on global markets.
From a technical standpoint, the IHSG is displaying signs of continued weakness. Analysts anticipate the index will trade within a limited range with a downward bias, establishing a support level at 7,000, a pivot point at 7,200, and resistance at 7,300.
Top Stock Recommendations
In response to these market dynamics, analysts have identified several stocks that may see active trading volume in the coming week. Investors are advised to monitor ADMR, ADRO, BFIN, ISAT, ULTJ, and SRTG as potential opportunities amidst the broader market correction.
Global Economic Focus
The global macroeconomic calendar remains a critical factor for investors next week. Attention is squarely fixed on the Federal Open Market Committee (FOMC) meeting scheduled for April 29, where the U.S. Federal Reserve is expected to maintain its benchmark interest rate in the 3.5%–3.75% range. Furthermore, a flurry of U.S. economic data releases—including consumer confidence, housing sector figures, Q1-2026 GDP, the PCE price index, and ISM manufacturing activity—will likely dictate market direction.
Across Asia, market participants will be closely watching the Bank of Japan’s interest rate decision on April 28. While inflation pressures in Japan are rising, rates are widely expected to remain steady at 0.75%. Meanwhile, in Europe, investors are tracking Q1-2026 GDP, inflation, and unemployment figures. The European Central Bank (ECB) and the Bank of England (BoE) are both projected to hold their respective interest rates steady at 2.15% and 3.75%.
Summary
The Jakarta Composite Index (IHSG) faces downward pressure as it nears the psychological support level of 7,000, following a 3.38% decline last week. Market volatility is primarily driven by persistent geopolitical tensions in the Middle East and concerns regarding commodity price fluctuations. Analysts anticipate the index will trade with a bearish bias, setting a resistance level at 7,300 and a pivot point at 7,200.
Investors are advised to monitor stocks such as ADRO, ADMR, BFIN, ISAT, ULTJ, and SRTG during this period of market correction. Global market direction will likely be influenced by upcoming economic data and central bank meetings, including the U.S. Federal Reserve’s FOMC, the Bank of Japan, and the European Central Bank. These institutions are generally expected to maintain their current interest rate policies amid broader economic uncertainty.