IHSG Rises 0.24% Despite Heavy Foreign Selling in BUMI, DEWA, and BBCA – What It Means for Investors

 On Monday, January 26, 2026, the Indonesian stock market showed an interesting move. The Jakarta Composite Index (IHSG) managed to rise about 0.24% even though foreign investors were actively selling major blue-chip stocks such as BUMI, DEWA, and BBCA. This unusual scenario has many investors wondering: how can the index rise while foreigners are unloading shares? Let’s break it down in simple terms.

IHSG’s Movement That Day

IHSG opened the trading session on a positive note and maintained gains throughout the morning. The index increased roughly 21 points or 0.24%, reaching around 8,972, and even touched an intraday high of 9,058 before slightly retracting toward the close. This movement was notable because it occurred despite heavy foreign selling pressure.

The total trading value was also significant, reaching nearly IDR 21 trillion, with tens of billions of shares changing hands. This shows that local investors remained active, keeping the market lively even as foreigners sold off their positions.

Which Stocks Did Foreigners Sell?

Data showed that net foreign selling was most pronounced in several big-name stocks:

• BUMI (PT Bumi Resources Tbk)

• DEWA (PT Darma Henwa Tbk)

• BBCA (PT Bank Central Asia Tbk)

• BMRI (PT Bank Mandiri Tbk)

• ESSA (PT Surya Esa Perkasa Tbk)

Foreign selling in these stocks reached almost 1 billion shares in the first session alone. So even though IHSG rose, heavy selling from foreign investors, especially in highly liquid and popular stocks, was clearly present.

So Why Did IHSG Rise?

It’s natural to ask: if foreigners are selling heavily, why is the index rising? The answer is simple: IHSG movement isn’t determined by foreign flows alone. Several factors contributed:

1. Strength from Basic Materials Sector

While foreign investors sold shares in the banking and energy sectors, the basic materials sector posted gains and became the main driver of the IHSG increase.

Even though big stocks like BBCA and BUMI were being sold off, other sectors saw buying activity that helped lift the index overall.

2. Active Local Investors

Local investors were still actively buying, counterbalancing foreign selling. Purchases occurred in sectors where foreigners were net sellers, as well as in other attractive sectors like technology and commodities.

Some of the most actively bought stocks included:

• GOTO (GoTo Gojek Tokopedia)

• BRMS (Bumi Resources Minerals)

• ARCI (PT Archi Indonesia Tbk)

• NCKL (Trimegah Bangun Persada)

• MEDC (Medco Energi Internasional)

Even though these weren’t the biggest blue chips, local buying helped offset foreign selling, keeping IHSG in positive territory.

Contrasting Foreign Activity

Foreign selling wasn’t limited to one or two stocks—it included many popular names, especially major banks like BBCA, a consistent favorite among foreign investors. Large-scale selling like this often happens during times of global uncertainty or cautious sentiment from international investors.

Still, foreigners aren’t completely exiting the market. Previous periods have shown net buying in other sectors, highlighting the complexity and opportunities of the Indonesian stock market.

What This Means for Investors

If you’re an investor or planning to enter the market, here are some key takeaways:

1. Foreign Flows Matter, But They’re Not Everything

Many investors focus on foreign buying or selling because of the large volumes involved. But as seen, IHSG can rise even when foreigners are selling, thanks to other sectors and local investors stepping in.

2. Diversification Helps

Not all stocks react the same way to foreign flows. Having a diversified portfolio can protect you and even create opportunities when certain sectors are strong while others are under pressure. For example, while banking stocks faced selling pressure, basic materials and tech showed potential.

3. Focus on Long-Term Strategy

Daily fluctuations don’t necessarily reflect the long-term trend. Long-term investors benefit more from understanding fundamentals and following their strategy than reacting to one day’s ups and downs.

Conclusion

On Monday, January 26, 2026, IHSG demonstrated the resilience of the Indonesian stock market. Even though foreign investors were selling heavily in BUMI, DEWA, and BBCA, the index still rose 0.24% due to strength in other sectors and continued local investor participation.

This movement shows that the Indonesian market is influenced by multiple factors, not just one, making it a dynamic environment with opportunities for different types of investors.

For investors, it’s a reminder to understand market dynamics, diversify portfolios, and focus on long-term goals. A single day’s rise or fall is just a small part of a much bigger picture in the stock market journey