Flooring Guide by Cinvex — The Jakarta Composite Index (JCI) closed the Wednesday (April 29) trading session in positive territory, snapping a seven-day losing streak. The market recovery was primarily driven by a rebound in major blue-chip stocks, including BREN and AMMN.
According to IDX Mobile, the JCI climbed by 0.41%, or 28.84 points, to settle at 7,101.23. Market breadth remained active, with 399 stocks advancing, 297 declining, and 263 remaining unchanged.
Significant gains among market heavyweights provided the momentum for the index. BREN led the charge, rising 1.72% to Rp4,730, followed by AMMN with a 1.46% gain to Rp5,200. Other notable performers included TLKM (+1.77% to Rp2,870), ASII (+0.41% to Rp6,050), and PANI (+1.17% to Rp8,650).
Additional strength was seen in stocks such as CUAN, which rose 1.17% to Rp1,300, and BBNI, which edged up 0.26% to Rp3,800. Furthermore, CDIA surged by 6.80% to Rp1,100, IMPC climbed 7.44% to Rp2,310, and UNTR posted a solid gain of 0.83% to Rp30,425.
Despite the recovery, research analysts at Phintraco Sekuritas noted that the JCI still exhibits signs of underlying pressure. Technically, the index faced a death cross between the MA5 and MA20 during the first session, a bearish signal reinforced by the negative expansion of the MACD histogram. Conversely, the stochastic RSI has entered the oversold territory, potentially signaling an opportunity for a short-term technical rebound.
Market sentiment remains sensitive to external factors. The JCI’s rebound follows a 0.48% correction in Tuesday’s (April 28) session, which was triggered by geopolitical uncertainty in the Middle East and concerns over rising global energy inflation.
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In response to the spike in global energy costs, the government has introduced fiscal incentives, including a temporary 0% import duty on LPG and plastic products for the next six months to help stabilize domestic supply.
Looking ahead, market participants are shifting their focus to key economic indicators and corporate performance. Investors are eagerly awaiting updates on the U.S. Federal Reserve’s interest rate policy and the release of first-quarter 2026 financial reports, both of which are expected to serve as major catalysts for the JCI.
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Market analysts highlighted that global sentiment remains tethered to U.S. economic developments. Investors are closely watching for the conclusion of the Federal Reserve meeting and subsequent commentary from the Fed Chair. Furthermore, key U.S. data releases this week, including building permits, durable goods orders, housing starts, PCE price indices, and Q1 2026 GDP figures, will be critical in shaping market direction.
Domestically, the spotlight remains on the first-quarter earning season, alongside various corporate actions from listed companies, including dividend announcements and rights issues.
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Summary
The Jakarta Composite Index (JCI) rebounded by 0.41% to close at 7,101.23 on Wednesday, ending a seven-day decline. This recovery was largely supported by gains in major blue-chip stocks, including BREN, AMMN, TLKM, and ASII. Despite the positive performance, analysts from Phintraco Sekuritas noted that the index still faces technical pressure, although the oversold stochastic RSI may offer potential for a short-term bounce.
Moving forward, market sentiment remains influenced by global economic developments, particularly U.S. Federal Reserve policies and upcoming domestic first-quarter financial reports. Investors are closely monitoring key U.S. economic data, including GDP figures and PCE price indices, which are expected to shape future market trends. Additionally, the Indonesian government has implemented fiscal incentives, such as temporary import duty exemptions, to mitigate the impact of rising global energy costs.