JAKARTA - The Jakarta Composite Index (JCI) was observed to strengthen on Friday, July 2, or the day before the implementation of the Emergency Community Activity Restrictions (PPKM). VOI monitoring at 09.23, the JCI was at the level of 6,025.51, or rose 0.33 percent.
A total of 219 stocks rose, 168 stocks fell, and 168 stocks were stagnant. Trading volume was recorded at 2.9 billion shares with a transaction value of Rp. 1.6 trillion.
Artha Sekuritas Indonesia analyst Dennies Christopher Jordan said that today's market movements in the Indonesian stock exchange were overshadowed by fears of a surge in daily COVID-19 cases. Positive cases of COVID-19 increased by 24,836 on Thursday July 1 yesterday, or became the highest record since COVID-19 entered Indonesia in March 2020.
"The government has planned to tighten the Emergency PPKM which will begin on Saturday, July 3, 2021," said Dennies in his daily research,
Meanwhile, analyst at PT Pilarmas Investindo Sekuritas, Maximilianus Nico Demus, said the JCI has the potential to strengthen towards the nearest resistance level at 6,067.
"Based on technical analysis, we see that the JCI currently has the opportunity to move higher and be traded at the level of 5,944-6,067," Nico Demus said in his research.
He further asked investors to choose stocks carefully and recommended accumulating purchases of ACES, MNCN, CPIN and LSIP shares.
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