JAKARTA - The Composite Stock Price Index (JCI) ended in the red zone after a long holiday. JCI closed down 92.57 points or 1.29 percent to 7,073.47 at the end of trading last Thursday, January 30.

MNC Sekuritas in his research saw that the weakening of the JCI yesterday occurred in the middle of the Fed which maintained its benchmark interest rate at the level of 4.5 percent. In addition, the Fed's statement also tends to be hawkish going forward.

On the other hand, yesterday's weakening of the JCI is also thought to be influenced by the movement of the rupiah exchange rate which is still corrected.

Then, several issuers with large enough market caps were also corrected in yesterday's trading, explained MNC Sekuritas research.

According to MNC Sekuritas, the JCI today is still prone to correction to support at 6,967 and resistance at 7,190.

"It is estimated that selling pressure still tends to dominate amid the releases of the US GDP and PCE," explained MNC Sekuritas.

The stocks that can be considered according to MNC Sekuritas include BRPT with a target price of IDR 975 - IDR 1,000 per share, and BUMI IDR 123 - IDR 130 per share.


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