JCI At The End Of The Week Potentially Weak Amid Global Exchange Pressure

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the combined stock price index (JCI) risks consolidation tends to weaken in Friday, February 17 trading. JCI is in the midst of pressure from global exchanges.

CEO of Yugen Bersinar Sekuritas William Surya Wijaya said that the development of the JCI movement still seems to feel at home in a reasonable consolidation range. The pattern of sideways is still overshadowed by the potential for pressure that still looks quite large, after the release of economic data at interest rates which shows that there is no change, of course, it will provide special sentiment for the JCI.

"Until now, the absence of significant capital inflow flows into the Indonesian capital market has made the market move more consolidatively," he said in a research publication.

William predicts the JCI today will move in the range of 6,803-6,988. The recommendations for its preferred shares are AALI, JSMR, ASII, BBRI, EXCL, TBIG, CTRA, and LSIP.

JCI closed down 0.27 percent to the level of 6,895.66 in trading Thursday (16/2/2023) after Bank Indonesia decided to maintain the benchmark interest rate at 5.75 percent.

The decline in the JCI was mainly due to the weakening of stocks in the energy sector. This sector closed trading with a correction of 0.54 percent. Then the health sector weakened 0.73 percent and the finance fell 0.22 percent.

Several sectors that strengthened were technology at 1.04 percent, transportation rose 0.84 percent, and infrastructure weakened 0.92 percent.