BBCA Shares Plummet, Crashing from 10,000s to 6,450
Jakarta, CNBC Indonesia — Shares of banking giant PT Bank Central Asia Tbk (BBCA) collapsed during today’s trading session, breaching a key psychological level. BBCA closed down 3.73% at Rp6,450, marking the lowest level in nearly the past five years.
Based on historical records, the last time BBCA shares were below Rp6,450 was on 21 August 2021. This means the current decline has brought the shares of Indonesia’s largest private bank back to levels not touched by the market for a long time.
Significant selling pressure was evident, aligning with the heavy exodus of foreign investors from banking stocks, including BBCA, which was previously a favourite among global funds. This situation is also reflected in the movement of the Composite Stock Price Index (IHSG), which was under pressure throughout the day.
From a technical perspective, BBCA’s current trend shows considerable weakness after failing to hold the intermediate support area. Since peaking above Rp10,000, the stock has continuously formed a pattern of lower highs and lower lows, indicating a dominant downward trend.
Since reaching its all-time closing high of Rp10,750 on 21 October 2025, BBCA shares have plunged 66.67%. Market participants are now watching whether the Rp6,400 level will become a new support area or open the door to further short-term declines.
If the Rp6,450 level can be maintained, there is potential for a technical rebound towards Rp6,800 to Rp7,000.
However, if it is breached with high volume, the risk of further weakening towards Rp6,000 or even Rp5,600 becomes more open. With dominant selling pressure and no strong reversal signals yet, BBCA’s short-term movement is likely to remain in a bearish phase.
Dumped by Foreigners
The collapse in BBCA’s share price also coincides with enormous foreign selling pressure. Year-to-date through 30 March 2026, net foreign selling in BBCA reached Rp20.68 trillion. This figure is far larger than that for other stocks.
Foreign selling in BBCA even contributed more than two-thirds of the net foreign selling across the entire market. The total net foreign selling in the first three months of 2026 was Rp30.99 trillion.
In the regular stock market, the second-largest net foreign selling was in Bumi Resources (BUMI). However, this Bakrie and Salim-owned coal issuer only recorded a value of approximately one-third of BBCA’s net foreign selling.
Net selling of other major bank stocks was also much smaller compared to BBCA.