Bank Indonesia's decision to hold benchmark interest rate at 6.5%besides the coal shortage at global market will become the catalyst for the trading of Jakarta Composite Index (JCI) today. Still, the stock trading is prone to profit taking action and banking shares are among the recommended ones. Followings are the full recommendations as reported by Bisnis.com:
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The local brokerage estimated the movement of Indonesian stocks will be mixed and tend to weaken with profit taking rushing into regional markets. The Indonesian benchmark index is predicted to move between 3,746-3,800, in an attempt to break resistant level at 3,800.
Banking sectors will potentially shine today borrowing positive sentiment after Bank Indonesia held the benchmark rate at 6.5%. The recommended shares are ICBP, BMRI, BBNI, and BBRI
The brokerage predicted the JCI to move between 3,730-3,802 with recommended shares like BJBR, BBRI, BDMN, SMCB, and MPPA.
Yesterday, JCI was closed up 0.63% to 3,783.71, approaching its resistant level at 3,802. The foreign net buy reached IDR280 billion with coal companies being the target of investment.
Disclosure: No position at the stock mentioned above.
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