JCI Expected to Continue Strengthening, Dividends as Key Catalyst

Phintraco Sekuritas predicts that the Jakarta Composite Index (JCI) will continue its upward trend on Thursday (March 13, 2025), supported by dividend prospects that boost market interest. JCI is expected to move within a range of 6,600 resistance, 6,550 pivot, and 6,500 support levels.

In its latest report, Phintraco Sekuritas highlights that JCI has the potential to close the gap towards 6,750. From a technical perspective, the index formed a white marubozu pattern and closed above the 20-day moving average (MA20) on Wednesday (March 12, 2025). Additionally, the MACD indicator shows a widening positive slope, while the Stochastic RSI remains in the overbought zone, signaling a continuation of the bullish trend.

"There is an indication of losing momentum, but JCI may still extend its gains in today's trading," stated Phintraco Sekuritas in its research report on Thursday (March 13, 2025).

Dividends as Market Support

Phintraco Sekuritas highlighted BBCA, which announced its dividend distribution plan with an estimated 2.8% yield based on the closing price on Tuesday (March 11, 2025). Anticipation of dividend payouts has also driven gains in other big-cap banking stocks.

This trend is expected to continue through the third week of March 2025, aligning with the Annual General Meeting of Shareholders (AGMS) period, which includes the agenda for dividends from the 2024 fiscal year.

Aside from BBCA, IDXHIDIV20 constituents such as TLKM, ANTM, INDF, and PGAS also saw significant gains on Wednesday (March 12, 2025). The dividend outlook is considered a major support factor for JCI, especially amid external uncertainties surrounding the Federal Reserve’s interest rate policy following the FOMC meeting in the coming weeks.

As for stock recommendations, Phintraco Sekuritas suggests five potential gainers, namely BBCA, BBRI, PGAS, TLKM, and ASII.

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