Jakarta, CNBC Indonesia – Earlier this week, there were a number of positive catalysts that could potentially be booster for the domestic stock market to continue its strengthening trend.
The positive sentiment started from the solid domestic economic fundamentals, a new record high for the Composite Stock Price Index (JCI) and Mitratel’s floor on the Indonesia Stock Exchange (IDX) this Monday.
Last Friday, the JCI closed up 1.26 percent to 6,720.26 with a transaction value of Rp 14.58 trillion. Foreign market participants made net sales of Rp. 141.22 billion.
In his research, NH Korindo observed, from the Wall Street exchange, last weekend it was closed in various ways. The Dow Jones and S&P 500 indexes closed lower. On the other hand, the rise in technology sector stocks managed to bring the Nasdaq index to a new record high above the 16,000 level for the first time.
Crude oil prices corrected again by 3%; amid fears of the impact of the lockdown in the European region.
Domestically, the JCI was again able to set a new record high to the level of 6,720. The increase was supported by various economic data released last week which indicated solid economic fundamentals.
“Entering the new week, the movement of the benchmark index still has the opportunity to continue the positive trend with a projected range of movement at 6,700 – 6,800,” wrote NH Korindo Sekuritas, Monday (11/22/2021).
Meanwhile, according to Surya Fajar Sekuritas, earlier this week, the JCI still has the energy to continue the upward trend, which tends to be sideways in the range of 6,670 to 6,760.
“Mitratel’s IPO today will be a crucial factor in today’s trading which will provide positive sentiment for the JCI,” said SF Sekuritas.
(sys / hps)
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