IHSG Drops 0.67%, Foreign Investors Record Rp886.07 Billion Net Sell

The Jakarta Composite Index (IHSG) closed lower on Monday (March 17), declining by 0.67% or 43.68 points to 6,471.95.

Amid the weakening index, foreign investor selling pressure intensified. Net foreign sell reached Rp886.07 billion, pushing the cumulative year-to-date (YTD) foreign net sell to Rp26.93 trillion.

Banking Stocks Gain, Tech Sector Under Pressure

PT Bank Rakyat Indonesia (Persero) Tbk (JK:BBRI) emerged as the top leader, rising 2.13% and adding 12.29 points to the index. However, on a year-to-date (YTD) basis, BBRI shares have declined by 6.13%, dragging down the index by 38.44 points.

Meanwhile, PT DCI Indonesia Tbk (DCII) was the biggest laggard, plunging 19.99% and weighing down the index by 47.75 points. Despite this sharp drop, DCII shares have still surged by 243.82% since the start of the year, contributing 135.53 points to the index.

Basic Materials Sector Outperforms, Tech Sector Slumps

The basic materials sector led the market on Monday, rising 2.28%. Conversely, the technology sector suffered the steepest decline, falling by 11.20%.