Overshadowed By A Number Of Negative Sentiments, The JCI Was Opened To Strength

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on Monday, August 31 trading. JCI was opened up 0.11 percent or 5.73 points to the level of 5,352.39.

Opening the trade, 41 stocks rose, 18 stocks fell, and 19 stocks were stagnant. The trading volume was recorded at 45.13 million shares and was transacted for IDR 16.17 billion.

JCI in trading is expected to enter a consolidation phase. The index rate will still be overshadowed by a number of sentiments, such as recorded capital outflows and developments in the domestic COVID-19 case.

For most of last week, the JCI continued to be on a strengthening trend. However, at the close of trading weekend, Friday 28 Agutsus, JCI was closed down 0.46 percent at 5,346.64 levels due to profit taking by investors.

Reliance Sekuritas Indonesia analyst Lanjar Nafi estimates the JCI will move down today. "We estimate that JCI has the potential to move under pressure at the weekend with support and resistance at 5,320-5,380," said Lanjar in his research.

Meanwhile, the stocks that investors can observe today include mining shares of PT Aneka Tambang Tbk (ANTM), PT Adaro Energy Tbk (ADRO), PT London Sumatra Tbk (LSIP), PT Charoen Pokphand Indonesia Tbk (CPIN), PT Sido Muncul Tbk (SIDO), PT Tower Bersama Infrastructure Tbk (TBIG), and PT Sarana Menara Nusantara Tbk (TOWR).

Likewise, Binaartha Sekuritas analyst M Nafan Aji Gusta Utama predicts the JCI will move down today. Technically, JCI has the opportunity to go to the nearest support.

"I predict that JCI will move into the green zone with support at the level of 5,293 and resistance at the level of 5,380," Nafan said.

Some of the shares he recommended were PT Bank Tabungan Negara Tbk (BBTN), PT Lippo Karawaci Tbk (LPKR), PT Jasa Marga Tbk (JSMR), PT Delta Dunia Makmur Tbk (DOID), PT Chandra Asri Tbk (TPIA), PT Waskita Beton Precast Tbk (WSBP) and PT Bank Permata Tbk (BNLI).