JAKARTA (TheInsiderStories) - Jakarta shares are expected to consolidate today driven by lackluster performance of regional markets and lack of strong incentives from domestic market. Investors may target certain stocks that are expected to release encouraging full year results.
On Tuesday, the Jakarta Composite Index (JCI) weakened by 14 points or down 0.27% to 5,381 after moving in a range of 5,390-5,396. As many as 137 stocks increased, 186 declined and 95 were untraded. The transaction value reached Rp8.29 trillion.
Eight of ten sectoral indices declined, led by agriculture stocks, which declined by 1.4% and infrastructure fell by 0.75%.
Today, Asjaya Indosurya expects the JCI to consolidate. “The potential for the market to go up is limited although there has been slight inflow of capital. If the index is corrected, it is a healthy correction that can be used by players to accumulate stocks,” William Surya Wijaya, an analyst with Indosurya said.
He projected the JCI to move within range of 5276 – 5411 points today. Given the steady economic growth, the JCI has the potentiality to maintain uptrend in the long run. For today, investors are required to be cautious as therefore could be some pressures in the market, it said.
Today’s menu :
- ADHI
- JSMR
- BBNI
- PGAS
- KLBF
- HMSP
- PWON
- ASRI
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William Surya w