JCI Tuesday Has The Opportunity To Continue Strengthening, This Sentiment Is The Main Factor

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) today, Tuesday, June 11, has the opportunity to strengthen again along with the surge in shares of issuers owned by conglomerate Prajogo Pangestu to jumbo banks.

CEO of Yugen Bersinar Sekuritas William Surya Wijaya in his research said that the development of the JCI movement seems to be in a reasonable consolidation range. The current increase is still a technical rebound.

"Given the stable economic condition of Indonesia, the opportunity for further increases is still open," said William.

On the other hand, there is still a risk of correction that investors still need to watch out for considering the capital outflow recorded throughout 2024.

Based on data from the Indonesia Stock Exchange, on Monday, June 10, foreign investors tend to sell their shares with a net sell of IDR 296.06 billion. Meanwhile, throughout 2024 net sales, foreign investors increased again to IDR 6.546 trillion.

William predicts that today the JCI will still tend to consolidate in the range of 6,789-7,034. The stocks he recommends include BBCA, BBRI, SMRA, AKRA, SMGR, CTRA.

Yesterday, the JCI strengthened 0.34 percent to 6,921.54 in line with the rebound in shares of PT Barito Renewables Energy Tbk. (BREN) along with a number of other Prajogo Pangestu shares.

Throughout the index session it moved in the range of 6,846,38-6,929.09. It was recorded that 198 stocks rose, 381 stocks fell, and 205 stocks were stagnant

Total transactions of Rp8.90 trillion and market capitalization of the JCI were observed to be Rp11,637.59 trillion.