Jakarta Composite Index (JCI) was slightly up in yesterday's closing. The index is predicted to move flat today but overshadowed by profit taking action.
Among the recommended shares for today's trading are BMRI, JSMR, TLKM, and TINS. Followings are the insights from several securities companies as reported by Bisnis.com today:
JCI rebounded yesterday, benefiting from the rally momentum at regional markets. The Fed's decision to spur US$600 billion for asset purchases had been the positive underlying for global investors. Yet, big-cap stocks like ASII and GGRM, weighed on the index. Today we will see the index swing between 3,605-3,654, still with potential to gain but in limited space.
Bank Indonesia's decision to keep the benchmark lending rate unchanged at 6.5% and the good news of annual gross domestic product (GDP) growth got positive response from the market. They also served as catalyst for the index. Yet, there is still huge room for profit taking to take place, as leading movers are in the overbought area. The index is estimated to move between 3,615-3,641 today, with recommended shares like JSMR and TLKM.
Today JCI may move sideways in line with the limited incentive for the market. Index potentially moves around 3,598-3,645, with the recommended shares like BMRI, JSMR, INDF, and SGRO.
Yesterday, JCI strengthened 23 points or 0.65% to close at 3,629. Foreign investors booked a net sell of IDR291 billion, of which majority was on TLKM's shares. Index is still in bullish area. Today we expect to see JCI to move between 3,600-3,669 with recommended shares like TLKM, TINS, BLTA, and PGAS.
Disclosure: No position at the stock mentioned above.
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