Jakarta, CNBC Indonesia – The country’s stock market ended in the green zone at the end of last week’s trading, supported by the massive buying action of foreign investors.
IDX data noted that the Jakarta Composite Index (JCI) closed up 0.64% to 6,030.77 points with a transaction value of Rp 13.47 trillion.
Foreign market participants recorded a net purchase of Rp 156.86 billion, while in a week, the net buy reached Rp 2.34 trillion.
The most traded stocks include PT Bukalapak.com Tbk (BUKA), PT Bank Central Asia Tbk (BBCA), PT Telkom Indonesia Tbk (TLKM), to PT Smartfren Telecom Tbk (FREN).
As for the record, the validity period of the Level 4 Community Activity Restriction (PPKM) will end this Monday (23/8).
Before starting trading earlier this week, this Monday, take a look at the recommended stock options as summarized by CNBC Indonesia:
NH Korindo Sekuritas Indonesia – Awaiting The Fed Meeting
US stock markets closed last weekend (20/08) with rebound significant, although it has not been able to erase the decline throughout the week. The Federal Reserve, the US central bank (the Fed), signaled a possible start of tapering at the end of this year.
On the other hand, the market was also pressured by falling oil prices in line with expectations of weak demand due to the spread of the Delta variant.
Over the past week, the JCI again posted a sharp decline of 1.77%, although foreign investors still posted net buy worth IDR 1.9 trillion. Global market participants will be watching for further signals from the Fed at its annual meeting scheduled for this week. Technically, today’s JCI is projected to be in the range of 5,950 – 6,160.
Preferred stock:
MPPA
AGRO
IMAS
SCMA
MNC Sekuritas – Limited JCI Strengthening
Currently, the position of the JCI is still in the wave [c] from wave E, so that the strengthening of the JCI will be relatively limited. It is estimated that the JCI will test the level of 6,060-6,090 first. Nevertheless, keep an eye on the 5,938 level as support closest, if the JCI penetrates that level, then the JCI will head to the 5,850-5,900 area.
Preferred stock:
BREEZE
MLPL
PTBA
BRAKE
Indosurya Shines Sekuritas – JCI Pressure Is Enough
Today the range of motion for the JCI looks to be still in the consolidation phase with the potential for pressure to remain quite large considering the economic slowdown which is still a challenge.
In addition, fluctuating commodity prices and the rupiah exchange rate will not have an effect on the JCI movement pattern, so that the volatile movements in the reasonable consolidation range can still be utilized by investors to make accumulated purchases with short-term targets.
Preferred stock:
BBRI
GGRM
SMGR
BBNI
Reliance Sekuritas – Overshadowed by Delta Variant
The US stock market rose supported by all major stocks in the S & P 500 index which experienced strengthening. Meanwhile, US-listed Chinese stocks rose on Friday, but still had their longest weekly decline in a decade.
Financial markets were rocked this week by speculation the global recovery could lose momentum just as central banks prepare to ease support measures.
Dallas Federal Reserve President Robert Kaplan said he was open to adjusting his view that the Fed should start easing its asset-buying program sooner rather than later if the delta variant persists and disrupts economic progress.
Preferred stock:
TLKM
BBRI
BBCA
BRAKE.
(bag bag)
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