Jakarta, CNBC Indonesia – The Jakarta Composite Index (JCI) has shot up 11.24% since 3 weeks ago. JCI moved from the level of 5,105.19 and shot more than 550 points to yesterday’s closing level (26/11/20) at 5,679.24.
In fact, JCI even had time to break the 5,700 level and test the 5,750 level before finally having to close yesterday in the red zone due to profit taking despite the positive global sentiment.
The JCI rally in a short period of time in large numbers is actually due to various global sentiments that are currently hot.
Starting from the news of 4 types of Covid-19 vaccines that are said to have effectiveness above 90%, Joe Biden’s victory as the 46th President of the United States (US), and the transition process from the current US President, Donald Trump, which is starting to run smoothly.
This is of course added to other positive domestic sentiments specific to an issuer or business sector such as the November 2020 edition of the BI Board of Governors which decided to lower the BI 7 Day Reverse Repo Rate by 25 basis points (bps) to 3.75%. .
This was not expected by market participants. The consensus gathered by CNBC Indonesia and Reuters resulted in the BI 7 Day Reverse Repo Rate projection to remain at 4%.
This means that the benchmark interest rate changes for the first time since July or in four months. The BI 7 Day Reverse Repo Rate is now at its lowest position since it was introduced in August 2016 to replace the BI Rate.
No doubt the JCI was flying high, even many large market cap stocks were able to soar up to tens of percent. However, investors who are late entering this November should not feel left behind.
This is because it turns out that there are still many leading stocks that have not shot up or are still able to fly up to tens of percent. Especially considering that profit taking by investors will continue in today’s trading, so this moment becomes a sweet spot to collect top stocks again.
On the next page, the CNBC Indonesia Research Team analyzes stocks that have a potential share of over 20%. However, CNBC Indonesia needs to emphasize that this paper is not a recommendation to buy or sell the stocks analyzed. The investment decision is entirely the responsibility of each investor.
Let’s take a look.
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