Foreign Investor Movements as IHSG Plummets Over 2% in Morning Session
Pressure from foreign investor selling overshadowed the domestic stock market during the first session of trading on Thursday (30/4/2026), in line with the plunge in the Composite Stock Price Index (IHSG) of more than 2%.
At the close of session I, the IHSG was recorded at 6,926.55, down 175 points (-2.42%). This level also became the lowest point throughout 2026. On a year-to-date (YTD) basis, the IHSG has also corrected by around 20%, reflecting deepening pressure in the domestic equity market.
Intraday data shows that foreign investors continued their net selling action with a value reaching Rp977.1 billion. Total foreign buying value was recorded at Rp4 trillion, while selling reached Rp5 trillion.
Foreign selling focused on big-cap stocks, particularly in the banking and commodities sectors.
The following are the stocks with the largest net foreign sell in session I:
PT Bank Central Asia Tbk (BBCA) - Rp383.8 billion
PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) - Rp285.6 billion
PT Aneka Tambang (Persero) Tbk (ANTM) - Rp143.0 billion
PT Petrindo Jaya Kreasi Tbk (CUAN) - Rp46.1 billion
PT Bank Mandiri (Persero) Tbk (BMRI) - Rp37.8 billion
PT Darma Henwa Tbk (DEWA) - Rp22.5 billion
PT Medco Energi Internasional Tbk (MEDC) - Rp21.4 billion
PT DMS Propertindo Tbk (KOTA) - Rp16.1 billion
PT Merdeka Battery Materials Tbk (MBMA) - Rp15.4 billion
PT Petrosea Tbk (PTRO) - Rp14.8 billion
Amid the heavy outflow, foreigners were still seen engaging in limited accumulation in a number of stocks, though not strong enough to stem the index’s decline.
Stocks with the largest net foreign buy include:
PT Bank Negara Indonesia (Persero) Tbk (BBNI) - Rp37.9 billion
PT Alamtri Resources Indonesia Tbk (ADRO) - Rp31.9 billion
PT Vale Indonesia Tbk (INCO) - Rp19.5 billion
PT Indofood Sukses Makmur Tbk (INDF) - Rp16.5 billion
PT Telkom Indonesia Tbk (TLKM) - Rp16.0 billion
All trading sectors weakened, with the deepest corrections recorded in infrastructure, basic materials, and energy.
Meanwhile, the coal mining issuer from the Sinar Mas Group, Dian Swastatika Sentosa (DSSA), became the main drag on IHSG performance with a weakening of 13.22 index points. This was followed by BBRI and BBCA with weakenings of 12.54 and 11.71 index points, respectively.
Other issuers weighing on the IHSG include BREN, MEGA, TPIA, BRPT, MDKA, AMMN, and UNTR.
An analyst from Doo Financial Futures said the sentiment hitting the IHSG remains centred on ongoing global geopolitical uncertainties.
“Overall, the global mood is still risk-off due to uncertainties over peace in the Middle East, rising oil prices in response to Trump’s latest military threats, and the hawkish FOMC last night,” they said when contacted by CNBC Indonesia on Thursday (30/4/2026).
In addition, there are no domestic catalysts that can serve as a fresh wind for the Indonesian stock market. The rupiah’s value continues to hit new lows, coupled with concerns over the budget deficit. Not to mention the rebalancing issues from MSCI that still loom.
“There are no sentiments that can lift it, although valuations of some blue-chip stocks are already quite attractive, but geopolitical downside and the AI bubble still threaten,” they added.