IDXChannel – The Composite Stock Price Index (JCI) is in the green zone at the opening of trading this morning (16/7/2021). IHSG strengthened 0.43% and was at the level of 6,072.
PT Analyst MNC Securities Catherine Vincentia said that there were still some positive sentiments to support the strengthening of the JCI. In particular, positive sentiment originating from within the country, such as the trade balance surplus.
“Suppose for JCI movement Yesterday, we saw that there might still be positive sentiment from within the country. Where, the trade balance recorded a surplus of USD 1.32 billion,” he said at the IDX Channel Market Opening event, Friday (16/7/2021).
Catherine explained that exports were still higher than imports, even though the annual growth of imports was still higher than exports. However, the increase in exports and imports has indeed become a positive sentiment for the JCI.
“This increase in exports and imports is indeed quite good, because it shows a recovery from the Indonesian economy. Although yesterday globally itself recorded a varied closing, especially on Wall Street. That doesn’t seem to have an impact on the JCI,” he explained.
He continued, the release of car sales data from GAIKINDO (Indonesian Automotive Industry Association) where it was noted that car sales were increasing, this is also expected to be one of the sentiments that drives the JCI movement.
“The JCI itself is quite positive, because yesterday there was also the release of car sales data from GAIKINDO which recorded an increase in car sales month on month and year on year. Where, we see year on year car sales up to June it increased by 50 percent,” said Catherine.
Meanwhile, Catherine said, the JCI movement today is predicted to tend to be mixed. Where, JCI will move in the range of 6,000 – 6,070.
“For today’s JCI movement, we estimate that it will tend to mix, with a range of movement at 6,000 – 6,070. So, fellow investors, maybe you can see that there is support at 5,913 and resistance at 6,134,” he said. (NDA)