PT Mandiri Manajemen Investasi (MMI) estimates that the Jakarta Composite Index (JCI) movement this year will range from 6,600-6,800.

"This target is based on fundamentals. But again, the sentiment will improve at the end of the year, so that optimism in 2022 can be confirmed at the end of this year, "said MMI Chief Investment Operator Ali Tahdin Saugi in an online event with the topic "Market Outlook 2021" on Wednesday (10/3).

He added that if the Indonesian economy improves, supported by the Covid-19 pandemic that subsides, this positive sentiment can provide investors confidence.

"Investors can see future growth where the opportunity in the future will be much higher (JCI), thus increasing our index level to the level of 7,000," he added.

According to him, several sectors that investors could look at are banking, property and retail, and telecommunications. It is hoped that technology-based companies such as Gojek, Tokopedia, Bukalapak, Traveloka, Blibli, Ovo, and Halodoc can offer their initial shares (IPO).

"We calculate the total valuation of the company to reach Rp460 trillion. Thus, these companies can increase the market capitalization of the JCI, "he said.