JCI At The End Of Week Has Limited Strengthening, Check Out Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) still has a limited chance of strengthening in weekend trading, Friday, January 19.

CEO of Yugen Bersinar Sekuritas William Surya Wijaya said that the JCI movement pattern was seen experiencing a technical rebound after being under pressure some time before. The potential for reasonable corrections must still be watched out for considering the fluctuation in the rupiah exchange rate and commodity prices.

"The strong fundamentals of the Indonesian economy can be seen from some economic data that has been reported to support the JCI movement to date," he said in research.

William predicts the JCI still has the potential to continue limited strengthening in the range of 7,123-7,272 today. A number of recommendations for selected shares are ICBP, BSDE, BBNI, BMRI, AKRA, SMRA, LSIP.

For information, the JCI on Thursday, January 18 closed up 0.73% or 52.33 points to the level of 7,252.96. JCI moved in the range of 7,185 to 7,267.

A total of 250 stocks rose, 261 stocks fell, and 258 stocks were stagnant. Market capitalization of IDR 11,534 trillion.

Foreign investors are observed to tend to sell shares with a net sell of IDR 97.2 billion. Throughout 2024, foreigners are still net buy of IDR 6.72 trillion.