The commodity prices keep picking up on flood in Australia and potential hike in crude price, thus supporting the stock price of listed coal companies.
In relatively fair global markets, the index of Indonesian stocks will potentially rally today. The recommended shares will still be the mining stocks like TINS and INCO. The followings are the full recommendations as reported by Bisnis.com today.
The local brokerage said that the Jakarta Composite Index (JCI) will continue to gain but in limited space. As indicated on stochastic oscilator, the index is moving toward the overbought area, suggesting it prone to profit taking action and pushing it to move between 3,710-3,790. Investors are suggested to monitor TINS, INTP, and BMRI.
Yesterday, the index was closed slightly up 32.54 points to 3,760.06. The catalyst was the 4.02% increase in mining sector, particularly led by listed coal companies.
The brokerage saw room for the index to extend the gain and move in the range of 3,752-3,786. The recommended shares are BDMN, BNBR, HRUN, SMGR, INCO, and KRAS. The rising risk appetite yesterday brought in a new optimism to Asian market in general. JCI was up 0.87% to 3,760 in the closing session while bluechip shares in LQ-45 index added 0.76% to 673. Foreign net buy reached Rp591 billion
Sinar Mas Sekuritas:
JCI yesterday advanced 0.87% to 3,760,06. Today, the JCU us estimated to be mixed at the range of 3,735-3,774. Indonesian stock market will be determined by benchmark interest rate with consensus unchanged.
Give attention to INDF, INKP, ADRO, and BBRI.
Disclosure: No position at the stock mentioned above.
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