JCI expected to be in green zone today
JAKARTA (TheInsiderStories) - Indonesian stocks are expected to trade in positive territory today, with sentiment boosted by gains in Wall Street overnight and selected buying interest in certain sectors including infrastructure and financial stocks.
On Monday, the market ended higher by 41.966 points or up 0.87 percent at 4,865.534, while LQ45 closed up 10.299 points or up 1.23 percent at 844.906. Eight sectors ended in green zone, led by infrastructure stocks (up 1.7 percent) and banking stocks (up 1.49 percent).
Gainers led losers 148 to 121, with 95 stocks were unchanged, with transaction values reaching Rp5.77 trillion.
Indosurya Head of Research of Asjaya Indosurya Securities William Surya Wijaya said technically the JCI is expected to trade within range of support level of 4,774 and resistance level of 4,881 points. He said the market on Monday closed up on technical rebound following previous days losses. He believes the market is still in consolidation mode, therefore gains in some stocks could be capped by profit-takings elsewhere.
He said among factors that could affect the market sentiment are commodity prices, the release of economic data in the coming few days. “Today, the JCI has the potentiality to go up,” William said.
Today’s menu according to Indosurya:
- JSMR
- BBNI
- BBRI
- SSMS
- SMCB
- WIKA
- INDF
- GGRM
- UNVR
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