JCI Exposed! Closes Down 2% Today
Jakarta, CNBC Indonesia — The Composite Stock Price Index fell deeper at the close of trading today, Thursday (23/4/2026). The JCI closed down 163 points or -2.16% at the level of 7,378.61.
A total of 531 stocks declined, 201 rose, and 227 were unchanged. Trading value was notably subdued at Rp13.18 trillion, involving 52.07 billion shares in 3.05 million transactions. Market capitalisation also dropped to 13,180 trillion.
The JCI weakened in line with foreign funds flowing out. During the first session, foreigners recorded a net sell of Rp679.5 billion, with banking stocks as the main target.
Citing Refinitiv, nearly all sectors were in the red. Only the industrial sector rose slightly by 0.28%. Utilities recorded the deepest decline at -7.14%, followed by non-primary consumer -2.95%, energy -2.75%, and basic materials -2.66%.
Notably in today’s trading, Barito Renewables Energy (BREN) and Dian Swastatika Sentosa (DSSA) were the main drags. BREN contributed -17.34 points amid a 8.7% correction, while DSSA, down 10.36%, pulled the JCI down by -14.99 points.
Meanwhile, shares of Prajogo Pangestu’s business conglomerate collapsed en masse in today’s trading. BREN and DSSA stocks, impacted by the latest MSCI announcement, remained the main burden on the JCI.
As is known, BREN and DSSA have faced heavy selling pressure since the MSCI announcement. The global index announced it would remove stocks listed in the High Shareholder Concentration (HSC) list issued by the Indonesia Stock Exchange (BEI) and the Central Securities Depository Indonesia (KSEI). BREN and DSSA are known to be among the 9 stocks on the HSC list.
Foreign investors were recorded as massively offloading BREN and DSSA shares in unison in yesterday’s trading. MSCI’s decision to execute the removal of HSC issuers in May will trigger measured foreign portfolio restructurings. The removal of stocks like BREN and DSSA is projected to force the liquidation of passive funds worth around Rp25.5 trillion.
Meanwhile, the rupiah exchange rate opened weaker against the US dollar. Referring to Refinitiv data, the Garuda currency started trading in the red zone with a 0.23% correction to the level of Rp17,210/USD.
That level marks the rupiah breaching a new psychological level and simultaneously recording a new all-time intraday low position.
This weakening occurred after in the previous trading on Wednesday (22/4/2026), the rupiah closed down 0.18% at Rp17,170/USD.