JCI Weekend, Strong Or Under Pressure?

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) broke through the level of 6,800 after moving in the green zone throughout yesterday's trading, Thursday, June 20. JCI closed up 92.40 points, or skyrocketed 1.37 percent to 6,819.32.

Shares of large banks rose and filled the ranks of JCI driving stocks. Phintraco Sekuritas Alrich Paskalis in his research assessed that BI's move to hold the benchmark interest rate in accordance with market expectations. Interest rate stability can provide certainty for business actors and investors.

With a fixed interest rate, the loan fee does not increase, so it does not burden corporations and consumers.

"This also means that BI does not see any inflationary pressure or rupiah exchange rates that require an increase in interest rates," explained the research of Phintraco Sekuritas.

Concerns about the risk of uncertainty are starting to subside, as well as can trigger market optimism. As a result, stable interest rates have the potential to attract capital inflows.

"Because the policy builds an optimistic view regarding the stability of the rupiah exchange rate and the future economic outlook," explained Phintraco Sekuritas.

Phintraco said the JCI has the potential to rebound to the nearest resistance at 6,900. Stocks to watch out for include BMRI (price targets: IDR 6,275-IDR 7,000), BBNI (target: IDR 4,600-IDR 5,200), BBRI (target: IDR 4,400-IDR 5,000), BBCA (target: IDR 9,800-IDR 10,000) and TLKM (target: IDR 3,100-IDR 3,400).