Foreign Investors Sell Shares Including MEDC and BBCA as IHSG Falls Sharply
Jakarta — Foreign investors conducted net sell-offs across multiple large-capitalisation stocks during the period 2-6 March 2026, amid a sharp correction in the Jakarta Composite Index (IHSG), which declined 7.89% to close at 7,585.69 over the past week.
Data from the Indonesia Stock Exchange (BEI) indicated that shares from the energy, banking, and commodities sectors became primary targets for foreign investor exit activity over the week.
Medco Energi Internasional (MEDC) recorded the largest net foreign sell position, reaching approximately Rp843.5 billion. Bank Central Asia (BBCA), a mega-capitalisation bank, followed with net foreign sell-offs of around Rp684.1 billion, succeeded by Bank Rakyat Indonesia (BBRI), which recorded net sells of approximately Rp517.2 billion.
Foreign selling activity was also evident in Bank Negara Indonesia (BBNI) shares, valued at Rp462.6 billion, and Bakrie & Brothers (BNBR), at approximately Rp448.2 billion.
The top 10 stocks with the largest net foreign sell positions during 2-6 March 2026 were:
PT Medco Energi Internasional Tbk (MEDC) — Rp843.5 billion
PT Bank Central Asia Tbk (BBCA) — Rp684.1 billion
PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) — Rp517.2 billion
PT Bank Negara Indonesia (Persero) Tbk (BBNI) — Rp462.6 billion
PT Bakrie & Brothers Tbk (BNBR) — Rp448.2 billion
PT Bank Mandiri (Persero) Tbk (BMRI) — Rp241.6 billion
PT Vale Indonesia Tbk (INCO) — Rp225.6 billion
PT Aneka Tambang (Persero) Tbk (ANTM) — Rp175.2 billion
PT Elnusa Tbk (ELSA) — Rp148.3 billion
PT Merdeka Gold Resources Tbk (EMAS) — Rp142.5 billion
The Jakarta Composite Index (IHSG) closed the week with a decline of 7.89% at 7,585.69, whilst market capitalisation fell 7.85% to Rp13.627 quadrillion. The sharp IHSG correction was accompanied by a significant contraction in transaction values, with average daily transaction values falling 16.64% to Rp24.97 trillion.
A total of 696 listed companies declined by more than 2%, whilst 59 companies experienced price corrections below 2%. Only 83 companies ended the week in the positive zone.
Two Bakrie Group shares — Bumi Resources (BUMI) and Energi Mega Persada (ENRG) — were the most heavily traded stocks during the period, with transaction values of Rp6.19 trillion and Rp6 trillion respectively.