JCI Pares Losses, Market Unfazed Despite Perry's Resignation from BI

The Jakarta Composite Index (JCI) managed to dampen negative sentiment from the resignation of Perry Warjiyo as Governor of Bank Indonesia (BI). Despite fluctuating throughout the trading session, the index ultimately closed only slightly weaker on Monday (27/7/2026). The JCI ended at 6,185.78, down 10.65 points or 0.17%. During the session, the index had plunged to touch 6,144.27 before paring most of its losses and approaching the psychological level of 6,200 at the close. On the upside, the JCI touched a daily high of 6,219.42. The JCI’s ability to cut its losses indicates that market participants did not engage in massive sell-offs despite being surprised by the morning news of Perry Warjiyo’s resignation. Investors tended to wait for clarity on the next monetary policy direction after the government appointed BI Senior Deputy Governor Destry Damayanti as acting Governor of BI. This was reflected in relatively subdued trading activity. Transaction value reached Rp12.09 trillion, with a volume of 25.92 billion shares across 1.79 million transactions. Pressure on the JCI was also uneven, as 318 stocks gained, 360 stocks declined, and 287 stocks remained stagnant. Interestingly, the sector most sensitive to Bank Indonesia policy actually supported the market. The financial sector rose 0.38%, making it the second-largest gainer after the non-primary consumer sector, which also strengthened by 0.17%. Conversely, pressure came mostly from utility and property stocks. The utility sector was the main drag with a correction of 1.88%, followed by the property sector down 0.77%, healthcare and industrial sectors each down 0.45%, and energy down 0.31%. In terms of individual stocks, the JCI’s decline was not triggered by uniform pressure. Shares of PT Telkom Indonesia (Persero) Tbk (TLKM) were the largest negative contributor to the index, shaving off 5.21 points, followed by PT Barito Renewables Energy Tbk (BREN) at 3.49 points, PT Mora Telematika Indonesia Tbk (MORA) at 3.11 points, PT Bank Mandiri (Persero) Tbk (BMRI) at 2.76 points, and PT Bank Central Asia Tbk (BBCA) at 2.49 points. On the other hand, gains in PT DCI Indonesia Tbk (DCII) provided the main support for the JCI with a contribution of 5.33 points, followed by PT Bayan Resources Tbk (BYAN) at 2.30 points, PT VKTR Teknologi Mobilitas Tbk (VKTR) at 1.74 points, PT Indah Kiat Pulp & Paper Tbk (INKP) at 1.57 points, and PT Impack Pratama Industri Tbk (IMPC) at 1.36 points. Overall, market movements showed that the news of Perry Warjiyo’s resignation did trigger intraday volatility. However, by the close of trading, this sentiment had not developed into panic selling. Meanwhile, foreign investors recorded a net foreign sell of Rp293.41 billion across all markets during the first session. Foreign buy value reached Rp2.17 trillion, while sell value reached Rp2.47 trillion. PT Bank Mandiri (Persero) Tbk (BMRI) recorded the largest foreign net sell at Rp135.65 billion, followed by PT Chandra Asri Pacific Tbk (TPIA) at Rp71.46 billion, PT Buana Lintas Lautan Tbk (BULL) at Rp40.82 billion, PT Aneka Tambang (Persero) Tbk (ANTM) at Rp38.52 billion, and PT Bumi Resources Tbk (BUMI) at Rp29.88 billion.