JCI Is Predicted To Experience Strengthening At The Beginning Of The Week, This Is The Driving Sentiment

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (IHSG) is predicted to experience limited strengthening in today's trading, Monday 21 November.

PT Yugen Bermbuh Sekuritas CEO William Surya Wijaya said the JCI was still showing efforts to get out of its normal consolidation range, while sentiment from fluctuations in the rupiah exchange rate and commodity prices would still provide sentiment for the JCI going forward.

"Even though there are some of these sentiments, given the strong and stable economic conditions that have been reported, the JCI still has the opportunity to experience limited strengthening," he said in a research publication.

Based on data from the Indonesia Stock Exchange on Friday, November 18, throughout the week trading varied. Even though it had dropped by one percent and left the position of 7,000, the JCI closed up 0.53 in last Friday's trading.

Along with the prediction that the JCI will rebound, William recommended several stocks such as PT Unilever Indonesia Tbk (UNVR), PT Semen Indonesia Tbk (SMGR), PT Bank Central Asia Tbk (BBCA), and PT Indo Tambangraya Megah Tbk (ITMG).

Then PT Astra Agro Lestari Tbk (AALI), PT Bumi Serpong Damai Tbk (BSDE) and PT AKR Corporindo Tbk (AKRA).

(JCI) experienced a slight decline last week compared to the previous week. However, market capitalization shows an increase.

Indonesia Stock Exchange Corporate Secretary Yulianto Aji Sadono said the JCI fell 0.1 percent to a level of 7,082.18 at last week's close, from 7,089.20 at the previous week's close. However, market capitalization rose 0.04 percent to IDR 9,473.06 trillion compared to IDR 9,469.05 trillion in the previous week.

The frequency of daily transactions fell 5.23 percent to 1,234,632 transactions during the week, from 1,302,824 transactions the previous week.