JCI Potentially Weakening, Here Are Today's Stock Recommendations

Illustration (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) in trading on Friday, October 20, 2023 has the potential to continue the downward trend.

For information, on Thursday's trading, October 19, 2023, the JCI closed lower by 1.18 percent or 81.4 points to the level of 6,846 after Bank Indonesia decided to raise the benchmark interest rate to 6 percent.

A total of 147 stocks rose, 404 stocks fell, and 207 stocks were stagnant. During trading yesterday, the JCI moved in the range of 6,840-6,927 with a market capitalization value of Rp10,636 trillion.

The CEO of PT Yugen Bertumbuh Sekuritas, William Surya, said that the JCI movement has the potential to be in the range of 6,789 to 6,978 and is expected to be overshadowed by an unfinished wave of pressure.

"There will still be capital outflows and accompanied by a weakening of the rupiah exchange rate which also provides negative sentiment," in his daily research.

According to Willam, the lack of sentiment that can boost the JCI increase is also a challenge for issuers in the capital market.

Therefore, Willam said that there is still a fairly large risk of reasonable corrections that investors must watch out for.

Meanwhile, several stock recommendations from Yugen Bertumbuh Sekuritas, for today's trading such as ITMG, AALI, TLKM, BBCA, SMGR, AKRA and ASRI.