JAKARTA - The Composite Stock Price Index (IHSG) has fallen further because it has experienced further weakness. VOI monitored at 09.05, the JCI was observed to have weakened 1.44 percent or 84.36 points to a level of 5,777.99 at the opening of trading Monday, February 1.

The observed transaction volume was 1.36 million shares with a value of Rp1.50 trillion. As for 80 stocks rose, 245 stocks fell, and 135 stocks were stagnant.

Foreign investors divested their shares in major Indonesian banks, namely PT Bank Rakyat Indonesia Tbk (BBRI) Rp.29.4 billion, PT Bank Negara Indonesia Tbk (BBNI) Rp. 11.6 billion, and PT Bank Central Asia Tbk (BBCA) Rp9. 5 billion.

JCI movement in today's trading is expected to continue the weakening trend, after closing last week's drop 1.96 percent to 5,862.

According to PT Binaartha Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, the JCI's support-resistance range is at the level of 5,699-5,992.

Illustration. (Photo: Unsplash)

"This indicates the potential for further weakening in the JCI movement," Nafan said in his research.

Investors could respond to the forecast of a further weakening trend in the JCI today by accumulating the purchase of shares of PT Ace Hardware Tbk (ACES), PT Bank Tabungan Negara Tbk (BBTN), PT Bank Mandiri Tbk (BMRI), PT Bank CIMB Niaga Tbk. (BNGA), PT Vale Indonesia Tbk (INCO), and PT PP Presisi Tbk (PPRE).


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