The Jakarta Composite Index (IHSG) closed lower in Tuesday’s trading session (April 28), falling 0.48% to settle at 7,072. This latest decline extends a concerning streak, marking seven consecutive days of losses for a total drop of 6.4%. So far this year, the index has retreated by 18.21% year-to-date (ytd), reflecting a challenging period for investors.
Market breadth remained tight, with 339 stocks advancing, 350 declining, and 129 remaining unchanged. Data from the Indonesia Stock Exchange (IDX) highlights significant activity, with a total transaction value reaching Rp 17.45 trillion, involving 31.89 billion shares traded across 2.14 million transactions. As of the market close, the total market capitalization for the IHSG stood at Rp 12,617 trillion.
Despite the broader market slump, large-scale crossing transactions—negotiated trades between institutional investors—captured significant attention. PT Bumi Serpong Damai Tbk (BSDE) led the activity with a massive crossing value of Rp 1.51 trillion at a price of Rp 880 per share. Other notable crossing transactions included PT Abadi Lestari Indonesia Tbk (RLCO) at Rp 385 billion (Rp 5,500), PT Bank Mandiri Tbk (BMRI) at Rp 283.31 billion (Rp 4,417), and PT Bank Central Asia Tbk (BBCA) at Rp 272.43 billion (Rp 5,981).
Additionally, significant crossing volume was recorded for PT Merdeka Copper Gold Tbk (MDKA) at Rp 175.48 billion (Rp 3,253), PT Sinar Mas Multiartha Tbk (SMMA) at Rp 132.26 billion (Rp 9,766), and PT Telkom Indonesia Tbk (TLKM) at Rp 102.78 billion (Rp 2,792).
Sectoral performance reflected the bearish sentiment, with eight of the eleven IDX sectors closing in the red. The non-cyclical sector bore the brunt of the selling pressure, sliding by 1.49%. This was underscored by a 2.30% decline in PT Unilever Indonesia Tbk (UNVR), which closed at Rp 1,485.
Regional markets similarly struggled, with all major Asian indices ending the day in negative territory. The Hang Seng Index fell 0.95%, the Shanghai Composite dipped 0.19%, the Nikkei declined 1.02%, and the Straits Times Index edged down 0.14%.
Top gainers in today’s trading were:
- PT PP Presisi Tbk (PPRE) up 34.75% to Rp 159
- PT Personel Alih Daya Tbk (PADA) up 23.98% to Rp 212
- PT Leyand International Tbk (LAPD) up 34.21% to Rp 102
Conversely, the top losers included:
- PT Bank CIMB Niaga Tbk (BNGA) down 8.33% to Rp 1,705
- PT Japfa Comfeed Indonesia Tbk (JPFA) down 7.11% to Rp 2,350
- PT Sumber Alfaria Trijaya Tbk (AMRT) down 5.69% to Rp 1,325
Summary
The Jakarta Composite Index (IHSG) fell by 0.48% to 7,072 on Tuesday, marking a seventh consecutive day of losses and a 6.4% decline over the period. With an 18.21% year-to-date retreat, the index reflects a broader bearish trend affecting major Asian markets. Market breadth remained weak as eight out of eleven IDX sectors closed in the red, heavily pressured by the non-cyclical sector.
Despite the market slump, significant institutional crossing transactions were recorded, led by PT Bumi Serpong Damai Tbk (BSDE) with a value of Rp 1.51 trillion. Other notable large-scale trades involved companies such as RLCO, BMRI, BBCA, and TLKM. These negotiated institutional trades occurred amidst a total daily transaction volume of Rp 17.45 trillion across the exchange.