The Insider Stories Morning Notes: JCI in mixed tend, Rupiah under pressure

JAKARTA (TheInsiderStories) –  Bahana Securities is expected the composite stock price index (JCI) to move in mixed tend to strengthen the range of 5,125-5,232 on friday with stocks that may be considered such as MYRX, TINS, UNTR, AISA, and MLPL.

While, PT KGI Sekuritas Indonesia estimates that JCI today moving in a range of 5,120 to 5,200, said Senior Researcher KGI Securities Indonesia Yuganur Wijanarko in his research. KGI Securities recommends BBNI (Rp5,350-Rp5,450), ADRO (Rp1,670-Rp1,770), TLKM (Rp3,970-Rp4,070) and ADHI (Rp2,020-Rp2,120).

Yesterday, JCI closed at 5198.75 or rose 0.97% * against the previous closing (-4.13% mtd; 13.19% ytd). The increase was supported by bargain hunting in the consumer sector stocks after the announcement of the inflation rate which rose exceed prior estimates.

The decision of OPEC to restrict oil production also helped push up the shares of mining-based. Foreign investors recorded a net buy Rp218.5 billion in the regular market (net buy Rp184,8 M mtd; net buy Rp9,7 T ytd). As many as 150 stocks rose, 150 stocks declined, 90 stocks unchanged and 186 shares not experience trading.

On the money market Putu Agus Pransuamitra, Research and Analyst PT Monex Investindo Futures, said the strengthening US economic data make the dollar bullish. Putu predict the Rupiah potentially heading to level Rp13,700 to Rp13,800 per US dollar by the end of 2016. On Thursday, Rupiah closed at RP 13,523.00 per USD, up 0.24% against the previous close * (+ 3.64% mtd; -1.89% ytd).

The post The Insider Stories Morning Notes: JCI in mixed tend, Rupiah under pressure appeared first on The Insider Stories.

Source: The Insiderstories
The Insider Stories Morning Notes: JCI in mixed tend, Rupiah under pressure

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