Thursday's JCI Has the Potential to Strengthen in Line with Market Players' Optimism Regarding the 2024 Elections

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (IHSG) has the potential to strengthen in trading today, Thursday, February 15, in line with market players' wait for the 2024 Election and the results of the 2024 Election quick count.

CEO of Yugen Bertumbu Sekuritas William Surya Wijaya said that the JCI is predicted to move positively in line with the market's wait for the 2024 election results.

"In the midst of still feeling the hustle and bustle of calculating the election results, currently the JCI is still continuing its positive movement through a reasonable consolidation range," he said in research.

The IHSG rate is also supported by the improvement in the rupiah exchange rate which has become a positive sentiment and the release of issuers' performance for the 2023 period. Today's JCI has the potential to strengthen in the range of 7,145-7,307.

The recommended stock choices are UNVR, ASII, BBCA, BBRI, BBNI, ITMG, HMSP, PWON, KLBF.

Previously, the JCI closed down 1.20 percent or 87.92 points to 7,209.74 in trading on Tuesday, February 13. JCI moved in the range 7,197-7,304 throughout trading.

A total of 214 shares rose, 308 shares weakened, and 245 shares stagnated. Market capitalization IDR 11,401 trillion.

Foreign investors tend to buy shares with a net buy of IDR 1.22 trillion. Throughout 2024, foreign investors' net buy will reach IDR 15.67 trillion.

On Tuesday, foreign investors were observed tending to buy up bank shares such as BBRI, BMRI, BBCA, BBNI, and ASII shares. Meanwhile, foreign investors sold shares in UNVR, FILM, MDKA, TPIA, BNGA.