JCI On Thursday Covered with Global And Local Sentiments, Check Out Recommended Stocks

JAKARTA - The Composite Stock Price Index (IHSG) closed down slightly by 0.00 percent or almost stagnant, 0.074 points to 7,224.21 in yesterday's trading, Wednesday, July 17. Analysts estimate that the movement of the IHSG today, Thursday, July 18, will not be much different from yesterday.

Phintraco Sekuritas, in its research, said that the movement of the IHSG was flat after several days of decline. Although it had weakened, the IHSG managed to return to its initial position due to the market response to the Bank Indonesia Board of Governors Meeting (RDG BI) which decided to maintain interest rates at 6.25 percent.

"However, several statements from BI have relatively reduced the risk of uncertainty," explained Phintraco's research.

Nurwachidah explained that Bank Indonesia estimates that economic growth will remain solid in the second quarter of 2024, supported by household consumption and investment.

To maintain the stability of the Rupiah exchange rate below IDR 16,200 and accelerate domestic inflows, Bank Indonesia will continue to intervene with pro-market monetary instruments such as SRBI, SVBI, and SUVBI.

From the global side, the market is waiting for the release of data from Europe, where the ECB will announce interest rates that are expected to remain at 4.25 percent. In addition, the UK will release May unemployment data, which is expected to remain at 4.40 percent.

"So we project that the JCI on Thursday will be in the support range of 7,200, pivot 7,250, and resistance 7,275," wrote Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas for today include BBRI, BTPS, TLKM, ASII, ACES, and INDF.