The Jakarta Composite Index (JCI) posted a strong rebound on Tuesday (February 3, 2026), as market conditions began to stabilize following several days of negative sentiment. Alongside the index’s upward movement, foreign capital gradually returned to the equity market. During the first trading session, foreign purchases totaled Rp5.2 trillion, nearly matching foreign sales at the same level.

Bumi Resources (BUMI) emerged as the top foreign buying target with net purchases of Rp402 billion, followed by Darma Henwa (DEWA) at Rp171.9 billion and Bumi Resources Minerals (BRMS) at Rp85.7 billion. Shares affiliated with the Hapsoro Group also attracted foreign interest, with Bukit Uluwatu Villa (BUVA) recording net buying of Rp85.7 billion and Rukun Raharja (RAJA) Rp85.5 billion.

Foreign investors also accumulated stocks linked to Prajogo Pangestu, including Barito Pacific (BRPT), Petrosea (PTRO), and Chandra Daya Investasi, which posted net buys of Rp56.7 billion, Rp49 billion, and Rp39 billion, respectively. Meanwhile, shipping company Buana Lintas Lautan (BULL) saw net foreign purchases of Rp40.5 billion.

The Financial Services Authority (OJK) noted that the JCI has begun to show signs of stability following a series of policy initiatives implemented earlier, with foreign investor confidence gradually improving. Approaching the end of the first session, the index accelerated further. At 10:44 a.m. WIB, the JCI rose 1.07% to 8,007.65, gaining around 295 points from its intraday low. By 11:21 a.m. WIB, the index advanced 1.54%, or 121.63 points, to 8,044.36, with 586 stocks gaining and 180 declining. Transaction value reached Rp15.68 trillion, involving 31.66 billion shares across 1.69 million trades.

OJK’s Chief Executive for Capital Markets, Derivatives Finance, and Carbon Exchange Supervision, Hasan Fawzi, said the movement reflects growing investor confidence and greater certainty regarding the government’s integrity reform agenda. He highlighted the broad-based rally across all sectoral indices, including major benchmarks such as IDX30 and LQ45, as a positive signal. Hasan added that the net foreign buy of Rp654.94 billion recorded in the previous session marked the return of foreign investors after three consecutive days of heavy outflows.

At the same time, Hasan observed a clear stock rotation, with fundamentally strong companies attracting increased buying interest, even when the composite index had previously declined. In contrast, stocks that had already experienced significant appreciation and carried higher valuation multiples tended to face selling pressure, albeit still within normal trading conditions.