IHSG Rally Halted by Foreign Sell-Off

The IHSG rally failed to hold on Thursday (23/7/2026), closing down 0.30% at 6,315.31 after foreign investors aggressively sold off shares in the second session. The index had surged more than 1% earlier in the day, touching an intraday high of 6,454.31, before reversing course to hit a low of 6,306.45. Total transaction value reached Rp23.89 trillion, with 59.78 billion shares traded. A total of 343 stocks advanced, 309 declined, and 313 remained unchanged.

The reversal in the IHSG mirrored a dramatic shift in foreign fund flows. At the end of the first session, foreign investors had recorded a net buy of Rp164.6 billion. However, selling pressure intensified in the second session, resulting in a net foreign sell position of Rp1.224 trillion by the close. This represents a swing of approximately Rp1.39 trillion in a single session, wiping out all of the morning’s gains.

Foreign selling was concentrated in large-capitalisation stocks, led by PT Bank Central Asia Tbk (BBCA) with a net sell of Rp484.3 billion. Other major targets included PT Chandra Asri Pacific Tbk (TPIA) at Rp367.9 billion, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) at Rp98.5 billion, PT Astra International Tbk (ASII) at Rp130.3 billion, and PT Telkom Indonesia (Persero) Tbk (TLKM) at Rp29.2 billion.