IHSG Session I Closes Down 3%, Pressured by Foreign Selling
JAKARTA, KOMPAS.com - The Composite Stock Price Index (IHSG) weakened sharply at the close of the first trading session on Friday (24/4/2026). The index fell 225.75 points or 3.06% to the level of 7,152.85.
Since opening at 7,378.072, the index immediately moved into negative territory and continued to weaken until it hit the daily low of 7,171.454.
Meanwhile, the highest point reached was 7,383.400.
Market pressure was evident from the dominance of weakening stocks.
From a liquidity perspective, trading activity remained relatively high.
Transaction volume reached 25.959 billion shares with a transaction value of Rp 11.989 trillion, and trading frequency of 1.52 million transactions.
Nevertheless, the high transaction value was unable to hold back the index’s downward pressure.
Senior Market Analyst at Mirae Asset Sekuritas, Nafan Aji Gusta, views the IHSG’s weakening as still within the corridor of a normal correction, although the outflow of foreign funds continues to burden market movements.
He noted that the IHSG was overshadowed by a net sell action by foreign investors of Rp 1.36 trillion in Thursday’s trading (23/4/2026). Cumulatively since the beginning of the year, net foreign sell has reached Rp 35.11 trillion.
This pressure reflects the still dominant risk-off stance among global investors towards emerging markets, including Indonesia.
From a technical standpoint, Nafan assesses that the current IHSG movement has the potential to test the next phase in the wave structure, namely “wave (ii) or wave (a)” as part of a corrective pattern.
However, indicators show mixed signals.
The Relative Strength Index (RSI) is beginning to indicate positive momentum supported by increased transaction volume, but the Stochastic K_D indicator is giving a negative signal, indicating that short-term volatility potential remains quite high.
“Technically, the IHSG is only experiencing a normal correction and it is possible to test the “wave (ii) or wave (a)” target. Based on the indicators, RSI shows a positive signal supported by rising volume, but Stochastics K_D shows a negative signal,” said Nafan when contacted by Kompas.com on Friday.