JAKARTA - The Composite Stock Price Index (JCI) will fluctuate today, Tuesday, August 1, after yesterday's gain of 0.45 percent or 31.12 points to 6,931.35.
Phintraco Sekuritas in his research estimates that the JCI is still maintaining its position above the risk support. This condition is considered to maintain the JCI's opportunity to return to the test at resistance at 6,950. Investors need to be aware of the potential for consolidation if the strengthening is stuck at 6,950.
"The external positive sentiment comes from China's increase. The recovery of manufacturing activities in China is expected to continue following the Chinese central bank's decision to lower loan interest rates in July 2023," explained research by Phintraco Sekuritas.
Domestically, market participants anticipate manufacturing index data which is estimated to last above 50% in July 2023 and projected a decline in inflation to 3.1 percent YoY in July 2023 from 3.52 percent in June 2023.
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The low inflation will be a valuable asset in the face of a potential increase in inflation at the peak of El Nino which is expected to occur in August 2023.
The JCI is predicted to fluctuate in the range of 6,880 to 6,950 this Tuesday. The recommended stocks include TLKM, GOTO, CPIN, MYOR, BBNI, ANTM, INKP, and MIKA.
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