Bank Shares Still Under Pressure from Foreign Selling

Foreign investors remain consistent in exiting the Indonesian stock market, with jumbo banking stocks once again the primary targets of selling activity during Thursday’s trading (16/4/2026). According to trading data, foreign investors recorded a net sell of Rp982.3 billion across the entire market. Compared to the previous session, the value of foreign net selling slightly decreased. The selling pressure was concentrated on jumbo banks. Bank Central Asia (BBCA) recorded the largest net foreign sell of Rp369 billion, followed in second and third places by Bank Rakyat Indonesia (BBRI) and Bank Mandiri (BMRI). Despite facing foreign selling pressure, BBRI’s stock fate differed from BBCA and BMRI. The share price of this bank, which extensively channels credit to SMEs, rose 0.29%, while BBCA fell 0.38% and BMRI 0.22%. On the other hand, the pressure also spread to energy and commodity stocks such as BUMI, ADMR, and ANTM, indicating no significant foreign rotation into those sectors yet. In detail, here are the 10 stocks with the largest net foreign sells from yesterday’s trading: - PT Bank Central Asia Tbk. (BBCA) - Rp369.0 billion - PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) - Rp302.5 billion - PT Bank Mandiri (Persero) Tbk. (BMRI) - Rp160.0 billion - PT Bumi Resources Tbk. (BUMI) - Rp128.1 billion - PT Astra International Tbk. (ASII) - Rp47.6 billion - PT Barito Renewables Energy Tbk. (BREN) - Rp33.9 billion - PT Bukit Uluwatu Villa Tbk. (BUVA) - Rp33.1 billion - PT Aneka Tambang Tbk. (Persero) Tbk. (ANTM) - Rp32.8 billion - PT Adaro Minerals Indonesia Tbk. (ADMR) - Rp31.5 billion - PT GoTo Gojek Tokopedia Tbk. (GOTO) - Rp26.4 billion Meanwhile, the Composite Stock Price Index (IHSG) closed slightly weaker on Thursday’s trading (16/4/2026), after fluctuating throughout the day. The IHSG closed at 7,621.38, down 2.21 points or 0.03%. Since opening, the IHSG actually moved in positive territory and touched a high of around 7,705, but selling pressure increased towards midday, causing the index to dip to the 7,575 area. In the second session, the IHSG attempted a rebound but ultimately closed slightly in the red. A total of 385 stocks rose, 326 fell, and 248 were stagnant. From the trading activity perspective, transaction values were quite brisk at around Rp17.88 trillion, with volume reaching 37.19 billion shares and transaction frequency around 2.58 million times. Market capitalisation was recorded at around Rp13,584 trillion. Citing Refinitiv, the IHSG was supported by Sejahteraraya Anugrahjaya (SRAJ) with a contribution of 8.64 index points. Shares of this hospital issuer owned by Dato Sri Tahir surged 15.27% to 15,100.