The Insider Stories Morning Notes - Sideways in line with global markets

JAKARTA (TheInsiderStories) - The Indonesian stocks are expected to move sideways today amid lack of new drivers that could spark buying interest, with falls of Wall Street overnight weighed on domestic market sentiment. Players are also likely to stay away from market ahead of weekend.

On Thursday, the Jakarta Composite Index (JCI) closed slightly higher. The JCI closed at 4,848.390, up 2.732 points or up 0.06 percent, while LQ45 edged up 0.0884 points or up 0.11 percent at 834.308.

Wall Street ended lower overnight. S&P Index dropped 19.26 points to 2,075.89, Dow Jones lost 208.81 points (down 1.16 percent) at 17,832.74 and Nasdaq lost 1.19 percent to 4,805.29.

Head of Research of PT Asjaya Indosurya Securities William Surya Wijaya said technically the JCI would move in range of support level of 4,811 and resistance level of 4,907.

He noted the slight recovery of some commodity projects may encourage players to make selective buying. Players are also eyeing Q1 results of a number of companies. Given this conditin, the JCI could still strengthen today.

Today’s menu :

- BBNI

- WIKA

- INDF

- ASII

- AALI

- BALI

- SMCB

- UNVR

- HMSP

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