Indonesia stock market sees Rp 36.1 trillion daily turnover, three

Rp 36.1 trillion of shares changed hands on May 8 2026, driven by three “jumbo” negotiated‑market deals that lifted the daily turnover to a new high and helped pull the composite index (IHSG) down 2.86% to 6,969.39 points【1】.

Jumbo deals in the negotiated market

The three largest negotiated‑market transactions were:

• PT Mitra Adiperkasa Tbk (MAPI) – a single negotiated trade worth Rp 11.8 trillion, representing 32.7% of total daily value. The deal involved 84.66 million shares at Rp 1,395 per share, a 9.07% rise in the negotiated price【1】. The same day, MAPI’s regular‑market price jumped 12.36% to Rp 1,455, after a 25‑point opening gain from the previous close of Rp 1,295【1】. The transaction was linked to Pacific Universal Investments Pte Ltd acquiring 51% of MAPI for a total of Rp 11.81 trillion【1】.

• PT Indah Kiat Pulp and Paper Tbk (INKP) – a negotiated trade of Rp 1.6 trillion across 11 transactions, moving 1.68 million shares at Rp 9,500 each, a 9.83% price increase in the negotiated market【1】. In the regular market, INKP fell 3.17% to Rp 9,150, indicating a divergence between the two venues【1】.

• PT Nusantara Sawit Sejahtera Tbk (NSSS) – a negotiated transaction of Rp 1.1 trillion over 12 trades, with 13.42 million shares changing hands at Rp 1,000 per share, a 39.86% surge in the negotiated price【1】. Regular‑market price held at Rp 805, with a modest 5‑point opening rise to Rp 810【1】.

These three deals alone accounted for roughly 45% of the day’s total turnover, underscoring the importance of negotiated‑market activity when large‑cap stocks are re‑priced outside the order‑book.

Market reaction and sector backdrop

Despite the hefty negotiated‑market volume, the broader market slipped. The IHSG fell 2.86% to 6,969.39, its lowest level of the week, while the LQ45 index dropped 2.39% to 677.17【1】. Trading frequency reached 2.83 million transactions and a volume of 56.3 million shares, reflecting heightened activity but net selling pressure.

Sector‑wide, foreign investors bought a net Rp 12.26 trillion of shares during the week, yet the index still weakened, suggesting that domestic selling outweighed inflows. Energy, basic materials and industrial sectors posted the steepest weekly declines, down 5.72%, 5.58% and 3.73% respectively【1】. By contrast, consumer non‑cyclical, financials and infrastructure sectors posted modest gains, with infrastructure up 5%【1】.

What to watch

• Upcoming release of the May 2026 CPI and any related Bank Indonesia policy statements, which could influence the direction of the IHSG and the rupiah.
• MAPI’s post‑acquisition integration: monitoring whether the 51% stake purchase translates into operational changes that affect its stock price in both markets.
• Negotiated‑market activity thresholds: any future deals exceeding Rp 10 trillion could again shift market sentiment, especially if they involve other large‑cap indices.

The May 8 2026 session shows how a handful of mega‑negotiated transactions can dominate turnover while the broader market reacts to sectoral weakness and investor sentiment, leaving the IHSG vulnerable to further downside unless macro data or policy shifts provide support.