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IHSG: Positive Coal, Take Profit The Rest

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Algo Research Team

Market | Jul 22, 2024 | Views: 2085

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Key Summary:

  • 2024 is a mirror of 2019
  • How to trade when Fed lowers interest rate?
  • Algo Alpha Index: Positive coal, take profit tech & BBRI

IHSG has outperformed significantly in July 2024, up +3.3% or +8.6% since its bottom in June. The performance was driven by institutional flows buying large-cap banks in the past 1-month: BBCA (+2%), BBRI (+7%), BMRI (+6%) and BBNI (+9%).


Equally, IDX decision to exclude BREN from FCA list also supported IHSG, where BREN is up +42% since its low in early June. Outperformances by DSSA (+14%) and BYAN (+14%) pushed the index up as well.

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