On Tuesday, JCI Was Opened Up 0.27 Percent To 4,914.94 Level

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened higher on trading Tuesday, June 30. JCI strengthened 0.27 percent or 13.13 points to the level of 4,914.94.

Opening trades, 34 stocks rose, 11 stocks fell, and 15 stocks remained unchanged. The trading volume was recorded at 7.34 million shares and was transacted for Rp9.93 billion.

Reliance Sekuritas Indonesia analyst Lanjar Nafi said, JCI has the potential to fluctuate again and try to move into the green zone. Based on his technical analysis, at the support and resistance levels, JCI will be in the range of 4,879-5,000.

"Investors will focus on economic data at the beginning of the month, including data on the growth in the manufacturing performance index and inflation," said Lanjar in his research.

Bank Indonesia previously estimated that the consumer price index will experience a decline or deflation in June. This is due to falling prices for a number of commodities, including garlic and gold. The forecast is based on the Price Monitoring Survey in the fourth week of June.

June inflation is expected to be minus 0.01 percent, lower than the previous month. With these developments, the forecast for inflation for this month on a calendar year basis is 0.9 percent. While on an annual basis it was 1.76 percent.

As for manufacturing performance, the Minister of Industry, Agus Gumiwang, previously admitted that he was optimistic that industrial performance would recover after the opening of economic activity in the new normal phase.

With the sentiment driving the index, Lanjar also recommended a number of stocks for investors to observe, including PT Sarana Menara Nusantara Tbk (TOWR), PT Aneka Tambang (Persero) Tbk (ANTM), PT Gudang Garam Tbk (GGRM). Next, shares of PT Lippo Karawaci Tbk (LPKR), PT Mitra Keluarga Kary Advisor Tbk (MIKA), and PT Unilever Indonesia Tbk (UNVR).

The same thing was also conveyed by Binaartha Sekuritas analyst M. Nafan Aji Gusta in his research. "This indicates a strengthening of the JCI to the resistance area," Nafan said in his research.

In the resistance area, the index possibly will be at the level of 4,975 and 5,097. While in the support area, JCI will be at the level of 4,865 to 4,778.

He also recommended a number of shares for investors to pay attention to in today's trade, including PT AKR Corporindo Tbk (AKRA), PT Estika Tata Tiara Tbk (BEEF), PT Bekasi Fajar Industrial Estate Tbk (BEST), and PT Bank Pembangunan Daerah Jawa Barat and Banten (BJBR).