Foreign Investors Buy ENRG Worth Rp 592 Billion as IHSG Stays Below 6,000

Foreign investors bought a net Rp 561.6 billion across the market on Tuesday (13/10/2026). The figure is substantial. Yet the Indonesia Composite Index (IHSG) still ended in the red, slipping 0.17% to close at 5,925.97.

This marks the second consecutive session below the 6,000 psychological level. Rising energy prices and aggressive foreign buying were not enough to lift the index.

Tech and Consumer Sectors Weighed on the Index

The technology sector led the decline at 0.95%, the steepest among all sectors. Non-primary consumer goods followed with a 0.61% drop, while financials shed 0.18%.

Additional pressure came from basic materials (-0.19%), primary consumer goods (-0.17%), and transportation (-0.03%).

On the flip side, property and real estate surged 1.83%, the best performer. Energy rose 0.40%, healthcare 0.53%, industrials 0.29%, and infrastructure 0.28%.

Total trading volume reached 35.84 billion shares worth Rp 10.39 trillion. Of 794 stocks traded, 336 advanced, 290 declined, and 168 were unchanged.

ENRG Dominated Foreign Buying at Rp 592 Billion

Despite the index correction, foreign investors were most aggressive buying PT Energi Mega Persada Tbk (ENRG) with a net Rp 592.53 billion—nearly 13 times larger than the second-place buyer.

The concentration in ENRG is striking. As an upstream oil and gas company, ENRG benefits from rising global energy prices. But a Rp 600 billion single-stock position often signals speculation around corporate restructuring or asset deals that haven't been announced yet.

BMRI, TLKM, BBRI Among Top Foreign Sellers

On the sell side, foreign investors offloaded PT Bank Mandiri Tbk (BMRI) most heavily at Rp 120.07 billion. PT Telkom Indonesia Tbk (TLKM) followed at Rp 74.76 billion.

PT Bank Rakyat Indonesia Tbk (BBRI) also appeared on the list with Rp 65.31 billion in net sales, alongside PT GoTo Gojek Tokopedia Tbk (GOTO) at Rp 51.94 billion.

The selling of BMRI, TLKM, and BBRI is notable—these are typically IHSG anchor stocks. Their weakness kept the index in the red despite heavy inflows into ENRG.

Why the Index Fell Despite Strong Foreign Buying

The situation reveals a dynamic tug-of-war between foreign and domestic investors. The Rp 561.6 billion net buy wasn't enough to lift IHSG because domestic selling—particularly from retail investors active in the technology sector—still held more weight on the index.

Technology led the correction with a 0.95% decline, far steeper than other sectors. Many tech stocks carry significant weight in IHSG, making their drop felt harder in the index number. This underscores that heavy foreign inflows concentrated in one stock or sector don't automatically override broader market pressure.

What It Means for Investors

Several concrete points to watch going forward:

IHSG levels: Nearest support sits around 5,900. A break below opens 5,800 as the next zone. Resistance at 6,000 needs to be reclaimed for sentiment to improve.

Foreign vs domestic flow: A Rp 561.6 billion foreign net buy today wasn't enough to move the index. Monitor whether foreign inflows continue or reverse. If foreigners start net selling heavily, pressure could intensify.

ENRG concentration: A Rp 592 billion single-stock position needs close monitoring. Watch ENRG's price action over the next few sessions. If it surges without a clear fundamental reason, brace for volatility.

Stocks foreigners are selling: BMRI, TLKM, and BBRI being dumped doesn't automatically signal sell. Foreign investors often reposition after profit-taking, so wait for follow-through volume over the next few sessions.

Catalysts ahead: Trade balance data, inflation figures, and Q3 corporate earnings reports will likely set the near-term tone this week.