Independent Securities Believe The JCI Can Touch Level 9,000: Just A Matter Of Time

JAKARTA - President Director of PT Mandiri Sekuritas Oki Ramadhana believes that it is only a matter of time for the Composite Stock Price Index (JCI) to reach 9,000 levels.

He said retail investors through their transaction activities would be one of the pillars of the JCI moving to that level.

"We'll see how many touch peaks, you've already 20. So if you can achieve Rp. 9,000, as a matter of time, okay. But I'm sure, the conference with the current special retail power, with the condition of our capital market, I think it's the most likely it will work," said Oki on the sidelines of Media Gathering Mandiri Sekuritas in Jakarta, quoted by Antara, Wednesday, December 10.

He said the positive trend of strengthening the JCI would continue to next year in line with the valuation of stock prices which tended to be still cheap.

"With the current valuation still cheap, next year the expectation growth for EPS (Earnings Per Share) is 12 percent, while the bond yield is down, right? The capital market is good," said Oki.

He recommended that investors allocate their investment in the current momentum in line with the potential for further strengthening next year.

"But you have to get an investment now, this momentum is now extraordinary, at the end of the year, extraordinary. Just hold it from now until next year at least," said Oki.

On the other hand, his party reminded to pay attention to aspects such as fundamental, technical, liquidity, and track records.

"Look at the fundamentals, look at the technicality, look at the liquidity. There are a lot, there are a lot of stocks, not just blue-chips, outside the blue-chip, there are a lot of good fundamentals, good stories," said Oki.

Data on the closing of trading on the IDX today, Tuesday (09/12), the JCI closed down 53.51 or 0.61 percent to 8,657.18, with a trading frequency of 3,115,997 transactions with 54.21 billion shares trading worth IDR 26.17 trillion.

A total of 250 stocks rose, 432 stocks decreased, and 119 did not move in value.