Optimistic For The Progress Of COVID-19 Vaccine, IHSG Opened To Strengthen 0.36 Percent To 5,133.34

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened higher on Wednesday, July 22 trading. JCI opened higher by 0.36 percent or 18.63 points to 5,133.34.

Opening the trade, 137 stocks rose, 31 stocks fell, and 138 stocks were stagnant. The trading volume was recorded at 122.54 million shares and was transacted for IDR 70.47 billion.

Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama estimates that the JCI today will move up at the level of 5,082 to 5,157. Market players are optimistic about the third phase of the COVID-19 vaccine trial.

"Technically, IHSG will aim for resistance at the level of 5,157," Nafan said.

He also recommended a number of shares for today's trade, including PT Charoen Pokphand Indonesia Tbk (CPIN), PT Indika Energy Tbk (INDY), PT Indocement Tunggal Prakarsa Tbk (INTP), and PT Itama Ranoraya Tbk (IRRA).

Likewise, Reliance Sekuritas Indonesia analyst Lanjar Nafi also estimates that the index will move up limited today with support and resistance at the level of 5,083 and 5,280. The movement of the JCI is influenced by the progress of the corona virus vaccine test in the country.

He recommended a number of shares in today's trading session, namely PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), and PT Ciputra Development Tbk (CTRA).

Then, he also advised investors to pay close attention to the shares of PT Matahari Department Store Tbk (LPPF), PT Lippo Karawaci Tbk (LPKR) and PT Sarana Menara Nusantara Tbk (TOWR).