JCI Thursday Predicted To Strengthen After BI Maintains Reference Interest Rate

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) has the potential to strengthen in today's trading, Thursday, February 22, after closing down 0.05 percent or 3.57 points to 7,349.02 yesterday.

Sejumlah saham berpotensi cuan setelah Bank Indonesia (BI) menetapkan untuk mempertahankan suku bunga acuan atau BI Rate di level 6 persen dalam Rapat Dewan Gubernur (RDG) Rabu 21 Februari.

Analysts see that there are several selected stock recommendations that can be observed in line with the results of this BI RDG. Head of Equity Research Kiwoom Sekuritas Sukarno Alatas explained that the results from the BI RDG could not have much effect on the current market.

The reason is, according to him, the market has BI expectations of maintaining interest rates at the level of 6 percent.

"If BI can actually lower interest rates, then it can have a positive impact on the market," said Sukarno.

Furthermore, in addition to the sentiment that came from the BI RDG and the elections, the next sentiment that could be the focus of the market at the end of February was the release of Current Account data in the fourth quarter of 2023, with an estimated -0.8 billion US dollars compared to the previous 0.9 billion US dollars.

Sukarno said that because market participants wanted a decline in interest rates, a positive impact on the JCI would be delayed. Thus, Kiwoom Sekuritas recommends several stocks that perform well, have low-cost valuations, and are trending prices in uptrend conditions.

Apart from the reasons related to the decision to detain the BI interest rate, he continued, the stocks that can be watched because yesterday managed to strengthen and have the above criteria, and have the potential to continue the uptrend condition are BDMN, BNGA, NISP, ADMF, ERAA, PGAS, and GJTL.