JAKARTA - The Composite Stock Price Index (JCI) is predicted to test the level of 5,100 in today's trading, Tuesday, June 9, after yesterday closed 4.52 percent lower to 5,342.1.
Phintraco Sekuritas in its research said that all sectors weakened with the largest weakness in industrial sector stocks (6.39 percent). In the midst of internal negative sentiment due to the loss of investor confidence, negative sentiment also comes from the outside.
"Iran and Israel are attacking each other, threatening a fragile ceasefire," wrote Phintraco Sekuritas.
As a result, crude oil prices rose more than 4 percent on Monday, June 8, thus increasing the risk of continued potential inflation increases and the potential for widening the 2026 state budget deficit.
The majority of indices on the Asian stock exchange also closed weaker due to negative factors from increasing tensions in the Middle East and the correction of technology sector stocks. The rupiah continued to close 0.84 percent weaker at Rp18,188 per US dollar on Monday.
"Technically, the JCI closed below the MA200 monthly level, so the potential for further JCI declines is still open technically. Furthermore, it is estimated that the JCI has the potential to test the level of 5,100," explained Phintraco Sekuritas.
As for MNC Sekuritas predicting the JCI, investors need to pay attention to 5,184-5,282 as the next correction area.
MNC Securities recommends emoat stocks for today's trading, namely ASII, BULL, JPFA, and NICL.
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