JCI Opens Weak, Analyst Recommends Several BUMN Shares

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - After several days of strong opening, this weekend the Composite Uniform Price Index (IHSG) was opened in the red zone. JCI on Friday, August 28, opened slightly lower by 0.11 percent or 5.76 points to the level of 5,365.71.

Opening the trade, 27 stocks rose, 8 stocks fell, and 34 stocks remained unchanged. The trading volume was recorded at 31.99 million shares and transacted at 10.34 billion.

Even though it opened higher, PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama said, in today's trading, the JCI will strengthen within the support-resistance range at the level of 5,293-5,380.

"JCI has the opportunity to go to the closest resistance level," Nafan said in his research.

Thus, he explained, the JCI movement which will continue the process of increasing today can be utilized by investors by buying shares of PT Bank Tabungan Negara Tbk (BBTN), PT Bank Permata Tbk (BNLI), PT Jasa Marga Tbk (JSMR), PT Lippo Karawaci Tbk. (LPKR), and PT Waskita Beton Precast Tbk (WSBP).

While a different view was conveyed by PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi, who estimated that the JCI would experience pressure.

He said technically the JCI will move in the support-resistance range at the level of 5,320-5,380.

Now, in the midst of the opportunity for the JCI to weaken today, Lanjar is offering a number of shares that can be observed by market players, namely PT Adaro Energy Tbk (ADRO), PT Aneka Tambang Tbk (ANTM), PT Industri Jamu and Pharmaceuticals Sido Muncul Tbk (SIDO), PT Tower Bersama Infrastructure Tbk (TBIG), and PT Saranna Menara Telekomunikasi Tbk (TOWR).