Foreign investors offloaded the most shares of BBCA before the end of March 2024.

RTI Business data shows that a number of shares were released by foreign investors before the end of March 2024.

This can be seen from the stocks with the highest net foreign sell (NFS) value, a situation where foreign investors withdraw their funds or sell shares in larger quantities than they buy. NFS sometimes causes share prices to fall.

The stocks with the highest NFS from March 17-27, 2024, were Bank Central Asia (BBCA) with a value of Rp954.3 billion. The traded share volume reached 933.7 million shares with a transaction value of Rp9.5 trillion and a frequency of 173,000 times.

Second, PT Telkom Indonesia (Persero) Tbk., with an NFS of Rp555.5 billion. The circulating volume reached 1.4 billion with a transaction value of Rp5.5 trillion and a frequency of 167,000 times.

PT Bank Negara Indonesia (Persero) Tbk., (BBNI) followed in third place with an NFS of Rp378.1 billion. The traded shares reached 598.2 million shares with a transaction value of Rp3.6 trillion and a frequency of 126,000 times.

Next are PT Merdeka Copper Gold Tbk., (MDKA) at Rp263.3 billion and PT Kalbe Farma Tbk., (KLBF) at Rp107.6 billion.

This list also includes MBMA, PTBA, and JSMR as the stocks most heavily sold off by foreign investors.

The following is a complete list of stocks with the highest NFS from January 17-27, 2024:

1. PT Bank Central Asia (BBCA) Rp954.3 billion
2. PT Telkom Indonesia (TLKM) Rp555.5 billion
3. PT Bank Negara Indonesia (BBNI) Rp378.1 billion
4. PT Merdeka Copper Gold (MDKA) Rp263.3 billion
5. PT Kalbe Farma (KLBF) Rp107.6 billion
6. PT Merdeka Battery Materials (MBMA) Rp97.7 billion
7. PT Vale Indonesia (INCO) Rp86.9 billion
8. PT Bukit Asam (PTBA) Rp72.1 billion
9. PT Jasa Marga (JSMR) Rp64.4 billion
10. PT H.M Sampoerna (HMSP) Rp63 billion.

(Also read: Shareholder Composition of GOTO at the Beginning of 2024, Who is the Largest?)