JCI On Wednesday Opened To Slightly Weaker 5.35 Points To 5,029.71 Levels

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened lower on Wednesday, June 10 trading. JCI opened slightly lower by 0.11 percent or 5.35 points to the level of 5,029.71.

Opening the trade, 26 stocks rose, 28 stocks fell, and 21 stocks were stagnant. The trading volume was recorded at 7.44 million shares and was transacted at IDR8.61 billion.

Binaartha Sekuritas analyst. M. Nafan Aji Gustama, JCI today experienced another correction, after yesterday turning lower and ending in the red zone with a decline of 0.7 percent.

"Technically, it is starting to show overbought conditions. There is a potential for a reasonable correction to the JCI movement," Nafan said in his research.

He further said that the potential for further weakening in the JCI rate today could be addressed by investors by accumulating shares of PT Agung Podomoro Land Tbk (APLN), PT Bank Tabungan Negara (Persero) Tbk (BBTN), PT Gajah Tunggal Tbk (GJTL), PT Indofood Sukses Makmur Tbk (INDF), PT Waskita Beton Precast (WSBP), and PT Wijaya Karya Beton Tbk (WTON).

A similar estimate was conveyed by PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi, who said the JCI movement would be depressed again. Lanjar said the JCI was moving in full again and there was potential for further weakening.

Lanjar's recommended stocks include PT HM Sampoerna Tbk (HMSP), PT Unilever Indonesia Tbk (UNVR), PT Adaro Energy Tbk (ADRO), and PT Medco Energy Tbk (MEDC).