JAKARTA (TheInsiderStories) - Indonesian shares are expected to move sideways today as market players are likely to be hesitant in making aggressive moves on concerns of lackluster global market performance.
The results of OECD meeting, which failed to make decision on freer trade, has injected negative tone on global markets. The OECD meeting result is likely to also put pressure on domestic market.
On Monday (March 20), the Jakarta Composite Index (JCI) closed slightly down by 6.44 points or down 0.12% at 5,533.990, after moving within range of 5,510.27-5,566.93 points. As many as 149 stocks rose, 163 declined, an 228 stocks were stagnant.
Foreign investors continued to accumulate stocks, as reflected in net buy of Rp830 billion. As many as 11.38 billion shares changed hands with total transaction value of Rp7.57 trillion.
Investa Saran Mandiri predicted the JCI to weaken slightly with support level of 5,500-5,480 and resistance level at 5,566-5,593.
Stocks to watch, according to Saran Mandiri, are including SRIL, BBNI, EXCL, ICBP. (*)