Indonesian stocks are likely to decline today on limited positive sentiment domestically. The recommended shares are INTP, BBRI, and TLKM. Below are the full insights as reported by Bisnis.com today:
Jakarta Composite Index (JCI) might fluctuate today within the range of 3,671-3,702. Yesterday, the JCI fell 1.48% or 55.48 points to 3,692.23, propelled by massive sell-off by foreign investors.
The brokerage predicts the index today will move between 3,674-3,751. The recommended shares are the second liners and Blue chip shares which are believed to make reversal. Yesterday, foreign net sell reached IDR459 billion, of which most took place on telecommunication and banking sectors.
It sees a further decline in JCI as seen from technical perspective. It will move between 3,685-3,706. The securities companies recommends buying INTP, BBRI, SGRO, and KLBF shares. Yesterday, JCI dropped amid the rebound in Asian marekts, with lagging movers of the banking sector, consumer goods and miscellaneous industry.
The local brokerage predicts the index will move around 3,665-3,711 today with recommended shares like PGAS and TLKM. As negative sentiment lingers in domestic market, there is still a room for the index to further decline.
The JCI is estimated to move within the range of 3,655-3,743 today. Investors should be careful and take position wait and see as inflation threat, especially in the food sector. Government bonds are expected to drop. Top picks are commodities-based stocks such as AALI, LSIP, and PTBA.
Disclosure: No position at the stock mentioned above.
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