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Bisnis.comJAKARTA – Composite stock price index (IHSG) has the opportunity to rebound in trading on Tuesday (31/10/2023) amid projections of the Federal Reserve increasing interest rate advanced.
CEO of Yugen Bertumbu Sekuritas, William Surya Wijaya, said that ahead of the release of economic data, the inflation rate was predicted to remain at a stable level, which could support the JCI. Inflation data can show the stable condition of the domestic economy.
“This can certainly be a sentiment to boost the IHSG’s rise, investors can take advantage of the corrective momentum considering that in the long term the JCI is still on an uptrend,” he explained in a research publication.
Today the JCI has the opportunity to be corrected in the range 6,654-6,778. Stock recommendations the choices are BBNI, KLBF, BBCA, BBRI, ASII, AALI, TBIG, UNVR, ICBP.
JCI corrected 0.34% or 22.9 points to 6,735.89 at the close of trading Monday, (30/10/2023). The composite index moved in the range of 6,692-6,775 throughout trading, and market capitalization was recorded at IDR 10,576 trillion.
President Director of Kiwoom Sekuritas Indonesia Changkun Shin said that the JCI rate was also overshadowed by the varying performance of issuers as of the third quarter of 2023. According to him, the performance of the majority of blue chip issuers grew positively, but the impact was not that strong considering the market was more inclined wait and see.
“In addition, the increase in interest rates has not been able to reduce the weakening of the rupiah which is getting worse. Apart from that, it has been reflected in the movement of the short-term trend that the index is already in a downward trend,” said Shin when contacted by Bisnis.
Further he said, shares top picks From Kiwoom Sekuritas currently what you can look at are PGEO, HMSP, BBCA, BBRI, ASII, AKRA and PTRO.
Before the meeting Federal Open Market Committee (FOMC) October 31-November 1 2023, a number of analysts predict that the Fed’s interest rate will still be held at the current level of 5.25%-5.5%, but the Fed is still projecting an increase in interest rates until the end of the year.
“Apart from that, there are activity opportunities window dressing at the end of the year it could happen. “So blue chip stocks that are falling even though the fundamentals are not serious will be an opportunity for investors to buy at discounted prices,” concluded Shin.
Check out today’s JCI movement live.
Disclaimer: This news does not aim to invite you to buy or sell shares. The investment decision is completely in the hands of the reader. Bisnis.com is not responsible for any losses or profits arising from readers’ investment decisions.
16:01 WIB
JCI closed higher
JCI closed up 0.24% or 16.31 points to 6,752.21.
Throughout the session the index moved in the range 6,666.41-6,754.51.
15:12 WIB
JCI turned up
JCI turned up slightly to 6,735.92 at 15.12 WIB.
Throughout the session, the index moved in the range 6,666.41-6,750.60.
13:45 WIB
JCI still fell at the start of session II
At the start of session II at 13.45 WIB, the JCI fell 0.46% or 31.10 points to 6,704.78.
12:08 WIB
IHSG down session I
JCI fell 0.51% or 34.27 points to 6,701.61 at the end of session I.
Throughout the session the index moved in the range 6,666.41-6,750.60.
10:09 WIB
JCI is increasingly under pressure
At 10.08 WIB, the JCI fell 0.83% or 55.63 points to 6,680.26.
Throughout this morning, the index moved in the range 6,674-6,750.
08:59 WIB
JCI opened up
JCI opened up 0.02% or 1.42 points to 6,737.31.
08:40 WIB
JCI received positive sentiment
2023-10-31 08:13:48
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