Kuya Food Express JAKARTA – The Jakarta Composite Index (IHSG) concluded the trading week in the red, breaking a four-day consecutive rally that commenced at the start of May 2026. Intense selling pressure ultimately pushed the benchmark index back below the crucial psychological level of 7,000, signaling a shift in market sentiment.
According to data from the Indonesia Stock Exchange (BEI), on Friday, May 8, 2026, the IHSG plummeted by 2.86%, shedding 204.92 points to close at 6,969.39. Despite this sharp correction at the week’s end, the IHSG managed to maintain a marginal weekly gain of 0.18%, reflecting the volatility and mixed performance experienced throughout the period.
The broader index’s downturn was predominantly fueled by a widespread decline across most sectors. Out of the 11 sectors listed on the BEI, a significant 10 sectors recorded losses, highlighting a broad-based market weakness rather than an isolated incident.
The raw materials sector bore the brunt of the sell-off, collapsing by a substantial 7.80% and exerting the greatest downward pull on the IHSG. Other key sectors also experienced significant contractions, with transportation falling 5.72%, energy 4.59%, industrials 4.55%, and non-primary consumer goods declining by 3.39%.
Foreign Investors Register Weekly Net Sell as Key Stocks See Major Disposals
Further contributing to the market’s subdued performance were the property and real estate sectors, which weakened by 2.66%. This was followed by primary consumer goods (2.11%), technology (1.91%), finance (1.48%), and infrastructure (0.32%). Amidst this sea of red, only the healthcare sector demonstrated resilience, managing to stay in the green with a modest gain of 0.70%.
Despite the prevailing market pressure, stock trading activity remained robust. The total transaction volume reached an impressive 55.96 billion shares, with a substantial trading value of IDR 35.88 trillion. However, the market’s negative sentiment was evident in the widespread decline of individual stocks, as 575 shares closed lower, while only 133 advanced, and the remainder traded flat.
Interestingly, even amidst the IHSG’s sharp correction, foreign investors recorded a net buy of IDR 11.42 trillion on Friday alone. However, when viewed in accumulation over the entire week, foreign investors ultimately registered a net sell of IDR 641.75 billion across all markets, indicating an overall capital outflow despite the strong buying activity on the final trading day.
Examining Top Stocks with Significant Foreign Net Sell in the Past Week
The following are the top 10 stocks that experienced the largest foreign net selling over the last week:
1. PT Bank Mandiri Tbk (BMRI) IDR 1.38 trillion
2. PT Bank Central Asia Tbk (BBCA) IDR 1.16 trillion
3. PT GoTo Gojek Tokopedia Tbk (GOTO) IDR 259.99 billion
4. PT Aneka Tambang Tbk (ANTM) IDR 227.44 billion
5. PT Petrindo Jaya Kreasi Tbk (CUAN) IDR 212.41 billion
6. PT Amman Mineral Internasional Tbk (AMMN) IDR 135.89 billion
7. PT Merdeka Copper Gold Tbk (MDKA) IDR 120.79 billion
8. PT Merdeka Gold Resources Tbk (EMAS) IDR 115.22 billion
9. PT Bumi Resources Minerals Tbk (BRMS) IDR 98.7 billion
10. PT Bumi Resources Tbk (BUMI) IDR 78.79 billion
BMRI Chart by TradingView
Summary
The Jakarta Composite Index (IHSG) closed the week at 6,969.39, experiencing a 2.86% decline that pushed the index below the 7,000 psychological level. This downturn affected nearly all market sectors, with the raw materials sector suffering the most significant losses of 7.80%. Despite strong trading volumes, 575 stocks closed lower, reflecting widespread negative sentiment across the Indonesia Stock Exchange.
While foreign investors recorded a single-day net buy of IDR 11.42 trillion on Friday, they registered a weekly net sell of IDR 641.75 billion. Major financial institutions faced the heaviest selling pressure, with PT Bank Mandiri Tbk (BMRI) and PT Bank Central Asia Tbk (BBCA) seeing the largest foreign net outflows of IDR 1.38 trillion and IDR 1.16 trillion, respectively. Other heavily divested stocks included GOTO, ANTM, and CUAN.