JCI Closes First Session Down 1.27%, BREN and DSSA Still the Main Culprits
Jakarta, CNBC Indonesia — The Composite Stock Price Index (JCI) closed the first session in the red on Thursday (23/4/2026). The JCI closed down 95.64 points or -1.27% at the level of 7,445.97.
A total of 471 stocks fell, 236 rose, and 252 were unchanged. The transaction value reached Rp11.67 trillion, involving 31.09 billion shares in 1.88 million transactions. Market capitalisation fell to Rp13,269 trillion.
Meanwhile, shares of the Prajogo Pangestu business conglomerate were recorded as collapsing en masse in today’s trading. BREN and DSSA shares, impacted by the latest MSCI announcement, remain the main burden on the JCI.
BREN, which fell 8.52%, contributed more significantly by 16.97 points to the JCI’s decline. Then DSSA, which plunged 4.38%, contributed -9.7 points.
In addition, several commodity stocks also weighed on the JCI, such as Amman Mineral (AMMN), Bumi Resources Minerals (BRMS), and Bayan Resources (BYAN).
As is known, BREN and DSSA have faced significant selling pressure since the MSCI announcement. The global index announced it would remove stocks listed on the High Shareholder Concentration (HSC) list issued by the Indonesia Stock Exchange (BEI) and the Central Securities Depository Indonesia (KSEI). It is known that BREN and DSSA are among the 9 stocks on the HSC list.
Foreign investors were recorded as massively selling off BREN and DSSA shares in yesterday’s trading. MSCI’s decision to execute the removal of HSC issuers in May will trigger a measured foreign portfolio restructuring. The removal of stocks like BREN and DSSA is projected to force the liquidation of around Rp25.5 trillion in passive funds.
Meanwhile, the global oil market is once again volatile. In Thursday morning trading at 10:10 WIB, oil prices continued their sharp rally after tensions in the Strait of Hormuz deepened.
According to Refinitiv, Brent crude was at US$103.93 per barrel, up from the previous close of US$101.91. Meanwhile, West Texas Intermediate (WTI) strengthened to US$95.05 per barrel, from US$92.96.
This increase came after prices also surged more than 3% the previous day. Brent closed on Wednesday up US$1.85 or 1.82%, while WTI added US$1.91 or 2.05%. This means the market is placing a large geopolitical risk premium on energy prices. In less than a week, Brent has risen from US$90.38 on 17 April to nearly US$104 this morning.
The root of the market’s anxiety lies in the Strait of Hormuz, the narrow waterway that has long been the lifeline of global oil trade.