JAKARTA - The movement of the Composite Stock Price Index (JCI) has the potential to strengthen back in today's trading, Tuesday, March 28, after weakening 0.79 percent yesterday to the level of 6,708.93.
Equity Analyst Indo Premier Sekuritas Rifqi Satria Dinandra said the JCI this week was supported by the sentiment of dividend distribution. According to him, dividends from banking issuers who have a lot of weight for the JCI were distributed in the past 2 weeks.
"The habit of market participants when there is a dividend announcement, they immediately rush to buy so that they can divide the dividend. This affects the positive rate of the JCI which finally strengthened last week," he said in the research.
Furthermore, he said, the dividend of banking issuers will ignite two sentiments that affect the JCI rate, namely foreign inflows. Last week, with only 3 trading days, it turned out that foreigners were able to buy quite a large purchase of IDR 2.38 trillion with the top 5 dominated by banking issuers and continued in other large-paced issuers.
"After the announcement of banking dividends, foreigners were busy buying up. This can clearly be seen from the shares of BMRI, BBCA and BBRI which were bought up by foreigners for more than Rp. 2 trillion itself. Foreign investors are re-entered. Apart from that, foreign investors are also re-entering the country through other large-paced stocks," he explained.
Regarding the ninth rate hike in the US in a row, this is clearly a positive sentiment for the market. The Fed raised the 25 bps interest rate.
"This increase in interest rates has actually become a positive sentiment, because the increase in interest rates has been slightly reduced. Market participants also hope that interest rates will stop increasing this year," he said.
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