Mar 7, 2011

Stock recommendations today

Indonesian stock benchmark may technically increase today after Bank Indonesia maintained a key interest rate at 6.75%. Here are recommendations provided by two brokerages today as quoted by Bisnis.com.

Sinarmas Sekuritas:
With a limited increase, Jakarta Composite Index (JCI) technically tends to reach higher level at the range of 3,510-3,575. Bank Indonesia's decision to maintain BI Rate at 6.75% has delivered positive sentimen on banking and mining stocks. Besides, the unemployment data in US may generate positive sentiment to the JCI. Stocks to watch: MYOR, AALI, INCO, and UNTR.

e-Trading Securities:The JCI today is esimated at the range of 3,513-3,588. Several stocks to watch: SMGR, BBRI, and UNTR. Last week, the index inched 48 points or 1.38% higher to the level of 3,542.9, following sentimen positive spreading in the US's stock markets. The rise was also spurred by oil price hike in 3 consecutive days. A steady Indonesia's interest benchmark at 6.75% also provided positive impact on the JCI.
Foreign investor on last Friday posted a Rp837 billion net buy with accumulative buy engulfing banking and mining stocks. 

Disclosure: No position at the stock mentioned above.  

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