JCI At The End Of The Week Has A Chance To Return To Level 7,000, These Are Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) rose 0.39 percent or 27.23 points to 6,974.90 on Thursday 6 June trading. Analysts also predict the JCI will strengthen again and penetrate the level of 7,000 today, Friday 7 June.

Phintraco Sekuritas, in his research, said that bank stocks were the main driver of the JCI rebound on Thursday. JCI has the opportunity to continue strengthening to the psychological level of 7,000 this Friday in line with several positive sentiments.

The strengthening that occurs in banking stocks is in line with strengthening the rupiah exchange rate to Rp16,255 per US dollar or strengthening by 0.15 percent on Thursday afternoon. This rupiah appreciation was triggered by the anticipation of a 25-base point (bps) European Central Bank (ECB) reduction in interest rate and a change in view of the Fed's policy direction.

"Based on a poll by the CME FedWatch Tools on Thursday, the Fed Rate's chances of cutting the Fed in September 2024 still hold above 55 percent," explained research by Phintraco Sekuritas.

Based on the sentiment above, the rupiah exchange rate has the opportunity to continue strengthening on Friday. Thus, bank shares, especially large-capitalized banks (BBCA, BBNI, BBRI, and BMRI) can be considered again

In addition to bank stocks, according to Phintraco Sekuritas, market participants can pay attention to continued rebound opportunities in ULTJ, INTP, and NCKL stocks in trading this weekend.