RRI.CO.ID, Jakarta - Indonesia’s benchmark stock index is expected to trade within a narrow range next week, reflecting cautious investor sentiment as markets digest global and domestic uncertainties.

Capital market analyst Reydi Octa projects that the Jakarta Composite Index (JCI) will likely move sideways with a slight upward bias in the coming week. He said the market has yet to fully exit its consolidation phase following recent global and domestic pressures, with investors still waiting for new catalysts.

“The JCI has the potential to move sideways with a slight upward trend, supported by a technical rebound after pressure in recent weeks, as the market has not fully emerged from a consolidation phase following global and domestic sentiment," Reydi said on Sunday, April 12, 2026, as quoted by Antara.

"The movement range is likely to remain limited while waiting for new catalysts,” he added.

Externally, Reydi expects market sentiment to be influenced by the direction of interest rates set by the US Federal Reserve, movements in US Treasury yields, as well as geopolitical developments and commodity prices.

“Positive sentiment could come from a rebound in global markets and easing geopolitical tensions,” he said, noting that domestically investors are expected to focus on foreign investor responses to MSCI-related issues and overall confidence in Indonesia’s stock market.

He also noted that Bank Indonesia’s interest rate policy, developments in global index provider ratings, inflation data, and the rupiah exchange rate will play key roles in determining capital flows.

“The direction of Bank Indonesia’s interest rate policy, updates from global index providers, inflation data, and the rupiah’s movement will determine whether capital inflows stabilize or remain in a wait-and-see mode,” he continued.

Regarding investor behavior, Reydi said market participants are currently more defensive and selective, focusing on large-cap and liquid stocks.

“Investors are more defensive and selective, focusing on big-cap and liquid stocks, with rotation toward commodity- and energy-based sectors as a result of global geopolitical pressures,” he explained.

Data from the Indonesia Stock Exchange showed that on Friday, April 10, the JCI closed up 150.91 points, or 2.07 percent, at 7,458.50. Meanwhile, the LQ45 index of leading stocks rose 12.57 points, or 1.71 percent, to 746.47.

Trading frequency reached 2,287,124 transactions, with 42.94 billion shares traded, valued at IDR 18.12 trillion. A total of 485 stocks advanced, 181 declined, and 153 remained unchanged. ***