JAKARTA — Indonesian equities declined again on Tuesday, July 28, 2026, as foreign selling and weakness across major sectors pushed the benchmark index toward the 6,100 region.

The Jakarta Composite Index lost approximately 55.19 points, or 0.89%, to close at 6,130.59.

The date is important because the supplied material referred to June 28. The confirmed trading session occurred on July 28, 2026, following the index’s 0.17% decline on Monday.

A total of 360 stocks finished lower, while 265 gained and 172 were unchanged. The supplied trading data recorded turnover of Rp10.92 trillion, involving 25.45 billion shares across approximately 1.67 million transactions.

The weak market breadth indicated that the decline was not limited to a small number of index heavyweights.

Property Stocks Produced the Deepest Sector Loss

Most industry groups finished in negative territory.

Property shares fell approximately 3.25%, while energy declined 1.75%. Industrials, technology, financials, infrastructure and healthcare also ended lower.

Non-primary consumer stocks were the only sector to gain, rising approximately 0.52%.

The sector pattern suggests investors were reducing exposure to businesses sensitive to financing costs, commodity risk and economic growth.

Several individual stocks still generated substantial gains. KOBX, ALKA, DWGL, MCAS and ZONE were among the strongest performers despite the broader decline.

Foreign Selling Exceeded Rp1 Trillion

International investors recorded approximately Rp1.07 trillion in net selling across all market segments.

The supplied figures placed regular-market net selling at Rp788.57 billion and negotiated- and cash-market selling at Rp276.89 billion.

Another published recap reported approximately Rp1.06 trillion in total foreign net selling. The small difference is consistent with rounding or separate data-extraction times.

Bank Mandiri experienced approximately Rp150.19 billion in net foreign selling. NSSS followed with Rp141.95 billion, while Bank Rakyat Indonesia recorded Rp135.63 billion.

Mora Telematika Indonesia and Metropolitan Kentjana also appeared among the stocks with the largest foreign outflows.

Selling in major banks carries particular significance because those companies have large market capitalisations and substantial weights in the benchmark.

TINS and BRPT Attracted the Largest Verified Purchases

Foreign investors did not sell every Indonesian stock.

Timah recorded approximately Rp33.52 billion in net foreign buying, making it the largest purchase in both the supplied list and another verified market recap.

Barito Pacific followed with Rp32.01 billion.

Interest in TINS was not limited to a single session. Foreign investors had accumulated more than Rp200 billion of the stock during July before the latest trading day, indicating continuing attention toward the tin producer.

The two companies provide different exposures. TINS is directly connected with tin production and prices, while BRPT has interests involving petrochemicals and energy.

BBCA Was Bought While Other Major Banks Were Sold

Bank Central Asia attracted Rp19.09 billion in net foreign purchases.

The transaction contrasted with the selling recorded in BMRI and BBRI. It indicates that overseas investors were differentiating between individual banking stocks rather than treating the sector as a single trade.

Gudang Garam received approximately Rp17.31 billion, while Rukun Raharja recorded Rp14.66 billion.

Bach Multi Global was also an active foreign purchase. A separate transaction recap placed BACH among the largest stocks by foreign net-buy volume, at more than 20 million shares.

Semen Indonesia, Elnusa, Indofood CBP and hospital operator Medikaloka Hermina completed the supplied top-ten list.

The selection combined commodity, energy-service, construction-material, banking and defensive-consumer exposure.

Ten Stocks in the Supplied Net-Buy Ranking

Combined buying in the ten companies reached approximately Rp154.37 billion.

The amount was far below the Rp1.07 trillion market-wide outflow. Foreign investors were therefore buying these selected companies while selling a substantially greater value elsewhere.

A separate market source also listed DAAZ with Rp29.25 billion in foreign net buying, ahead of BBCA. The discrepancy may reflect differences in market coverage, timing or the data provider used.

Selective Buying Does Not Signal a Broad Market Return

The trading pattern is better described as selective accumulation than a return of foreign confidence across the Indonesian market.

International funds reduced total exposure but maintained positions in companies linked to commodities, energy infrastructure, defensive consumption and selected banking franchises.

A single day of net foreign buying in an individual stock should not be treated as proof that its price will continue rising. The transaction may reflect portfolio rebalancing, short-term positioning or institution-specific decisions.

Investors should also distinguish between rankings based on transaction value and those based on share volume. Lower-priced stocks can rank highly by volume without representing the largest rupiah allocation.

The JCI’s decline to 6,130.59 shows that overall market demand remained weak. A stronger recovery would require broader sector participation, higher turnover and consistent foreign inflows across several sessions.

Disclaimer: This article is provided solely for informational and educational purposes. Foreign-flow data and the securities mentioned do not constitute personalised investment advice, a recommendation or an invitation to buy or sell any financial instrument.