JCI on Wednesday Covered in Global Sentiment, Check Out the Stock Recommendations

JAKARTA - The Composite Stock Price Index (IHSG) weakened 0.11 percent or 98.12 points to 7,313.86 in trading on Tuesday, July 23. What about the movement of IHSG today, Wednesday, July 24?

Yugen Bertumbuh Sekuritas CEO, William Surya, sees that the movement pattern of IHSG still seems comfortable in a reasonable consolidation range amidst fluctuations in the rupiah exchange rate. Meanwhile, in the short term, there are still many opportunities that can be utilized by investors to accumulate purchases if a minor correction occurs, considering that the economic conditions are still stable.

"So that IHSG will still tend to move sideways with a range of 7,231-7,354," said William.

Meanwhile, Phintraco Sekuritas in its research, sees technically, the existence of strong resistance at 7,330-7,350 limits the strengthening of IHSG in the short term.

IHSG will be driven by external sentiments, including the market is still digesting Joe Biden's decision to resign as the Democratic Party's presidential candidate for the US election map in November 2024. Several analysts predict a big chance for Donald Trump to win the election.

"In addition, the issue of inward-looking policies, the increasing intensity of the US-China trade war and its impact on world trade values ​​have resurfaced," explained Phintraco Sekuritas.

Meanwhile, domestically, the market is anticipating the second quarter 2024 Foreign Direct Investment (FDI) data. This data could affect how the market views Indonesia's economic growth outlook for the remainder of 2024. The market has indeed anticipated the potential for a slowdown in FDI growth in the election year.

The stocks recommended by Phintraco Securities for today include EXCL, TOWR, MBMA, EMTK, and ERAA.