After rallying for eleven consecutive trading days, the Indonesia Composite Stock Index (IHSG) finally closed in negative territory. On Tuesday (July 22, 2025), the index ended the session with a decline of 0.72%, or a drop of 53.45 points, settling at 7,334.74.

Trading activity remained brisk, with the total transaction value reaching Rp 19.78 trillion. Around 30.81 billion shares were exchanged through 2.03 million trades. Out of all listed stocks, 220 closed higher, 379 declined, and 200 remained unchanged.

Meanwhile, foreign investors were once again net sellers across all markets, registering a total net foreign sell of Rp561.75 billion. Of that amount, Rp484.36 billion came from the regular market and Rp77.38 billion from the negotiated and cash markets.

So, which stocks were most heavily sold by foreign investors? According to data from Stockbit, here are the top net foreign sell stocks on Tuesday:

• PT Aneka Tambang Tbk. (ANTM) – Rp482.42 billion

• PT Bank Mandiri (Persero) Tbk. (BMRI) – Rp291.09 billion

• PT Pantai Indah Kapuk Dua Tbk. (PANI) – Rp40.19 billion

• PT Darma Henwa Tbk. (DEWA) – Rp33.53 billion

• PT Surya Semesta Internusa Tbk. (SSIA) – Rp28.29 billion

• PT Solusi Sinergi Digital Tbk. (WIFI) – Rp27.98 billion

• PT Rukun Raharja Tbk. (RAJA) – Rp24.61 billion

• PT Bank Negara Indonesia (Persero) Tbk. (BBNI) – Rp24.02 billion

• PT Merdeka Battery Materials Tbk. (MBMA) – Rp23.10 billion

• PT J Resources Asia Pasifik Tbk. (PSAB) – Rp22.59 billion