Foreign Net Sell Hits Rp221.68 Billion in Session I

JAKARTA — Foreign investors posted a net sell of Rp221.68 billion in the first trading session on Thursday (7/9/2026). The selling pressure came even as the Jakarta Composite Index (IHSG) stayed in the green, rising 12.32 points or 0.21% to 5,885.69.

Stockbit Sekuritas data showed foreign transaction value in the first half of the day reached Rp4.32 trillion. That figure consisted of Rp2.05 trillion in foreign buying and Rp2.27 trillion in foreign selling.

The condition reflects the dynamics of capital outflows that are still weighing on the domestic market amid investors’ wait for new economic catalysts and fluctuating global sentiment.

Selling Dominates Bank Stocks

The most notable selling pressure came in state-owned banking stocks. PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) was the main target of foreign selling with a net sell value of Rp138.39 billion. In addition, retail stock PT Mitra Adiperkasa Tbk. (MAPI) also recorded a significant net sell of Rp73.71 billion.

Profit-taking or portfolio rotation was likely the main reason behind the move. Investors appeared to start diversifying away from big-cap stocks that had previously dominated foreign portfolios. Below is the list of the 10 issuers with the highest foreign net sell in session I:

IssuersNet Sell (Rp Billion)BBRI138.39MAPI73.71ASII30.39DSSA27.46TLKM18.77ENRG16.45MDKA13.03BRPT11.88AADI8.88BUVA6.85

Anomaly in Battery Stocks

Amid the heavy outflow, there was an anomaly in PT Merdeka Battery Materials Tbk. (MBMA). The stock instead became a favorite of foreign investors, recording a net buy of Rp262.08 billion. The figure stands in sharp contrast to other issuers, indicating large-scale accumulation focused on the energy materials sector.

The impact for domestic investors from this dynamic is quite tangible. The differing foreign investment direction between banking and materials sectors may affect IHSG volatility in the short term.

For retail investors, foreign movement in major bank stocks is often an early indicator of the IHSG trend, while accumulation in materials stocks signals market expectations for downstream sector growth.

Overall, the market is still watching how this capital flow develops through this afternoon’s close. If the selling in bank stocks continues, the IHSG could face further consolidation. However, as long as positive sentiment from domestic corporate performance remains strong, the shift in buying interest to new sectors could help keep the index stable at current levels.