There is a Chance for JCI to Strengthen Today, What Stocks are Recommended?

Illustration. (Photo: Doc. Antara)

JAKARTA - The composite stock price index (IHSG) has the potential to rise in trading today, Wednesday 1 November, in line with the release of inflation data and investors' wait for the results of the Fed meeting.

Yugen Bertumbu Sekuritas CEO William Surya Wijaya said that he would start trading in the eleventh month of 2023, where there would be the release of economic data in the form of inflation data which was predicted to remain stable so that it could provide encouragement to the JCI.

"IHSG is also influenced by fluctuations in commodity prices and the rupiah exchange rate," he said in his research.

According to him, today the JCI has the potential to strengthen in the range of 6,654-6,778. The recommended stock choices are HMSP, ASII, BBCA, BBNI, KLBF, PWON, ASRI, SMRA, CTRA.

For information, the JCI closed up 0.24% or 16.31 points to 6,752.21 on Tuesday 31 October. Throughout the session the index moved in the range 6,666.41-6,754.51.

Meanwhile, the United States Central Bank, Federal Reserve or The Fed, is scheduled to hold a Federal Open Market Committee (FOMC) 2 days until Wednesday (1/11/2023). Analysts see the market anticipating hawkish potential from the meeting.