JCI Plunges 2% Back to 6,100 Level

The Jakarta Composite Index (JCI) slumped further in early trading on Friday (24/7/2026), with the decline nearly touching 2% amid heavy selling of large-capitalisation stocks. External sentiment, including a surge in global oil prices above US$100 per barrel and new tariff policies from United States President Donald Trump, continued to overshadow market movements. As of 09:26 Western Indonesia Time, the JCI had plummeted 125.92 points, or 1.99%, to 6,189.39. Of all traded stocks, 556 declined, only 99 advanced, and 310 were unchanged. Transaction value reached Rp4.37 trillion with a volume of 9.79 billion shares in 608.2 thousand trades, reflecting intense selling pressure from the start of the session. The decline was dominated by sell-offs in blue-chip stocks, particularly in the banking sector, which had also been targeted by foreign investors the previous day. On Thursday’s trading, foreign investors recorded a net sell of approximately Rp920.3 billion in the regular market, with the heaviest pressure on major bank stocks such as BBCA, BBRI, BMRI, and BBNI. The sell-off continued into today’s session, dragging the index deeper. The pressure was also influenced by worsening global sentiment. US President Donald Trump officially imposed new import tariffs of 10%-12.5% on 60 trading partners, including Indonesia, reigniting concerns over global trade prospects. Simultaneously, conflict in the Middle East pushed Brent crude oil prices to US$100.69 per barrel, the highest level in two months. The spike in energy prices heightened fears that global inflation could strengthen again, increasing the likelihood that central banks will maintain high interest rates for longer. The combination of external pressures and continued selling in banking stocks prompted market participants to reduce exposure to risky assets, making the JCI one of the indices under significant pressure at the start of the day’s trading.