The Composite Stock Price Index (IHSG) closed Wednesday’s (11/2) trading session in positive territory, rising 1.96% to 8,290.97.

The index’s gain was mainly driven by BRPT shares, which surged 12.32%, followed by TLKM climbing 3.82% and CUAN jumping 17.38% as the primary leading movers. Meanwhile, downward pressure came from CASA, which declined 8.58%, BMRI fell 1.47%, and ASII slipped 1.46% as lagging movers.

Foreign investors recorded net selling of Rp366.64 billion in the regular market and Rp526.64 billion across all markets.

From a sectoral perspective, 10 out of 11 sectors ended higher. The Energy sector posted the strongest increase at 5.95%, while the Finance sector was the only one to weaken, edging down 0.49%.

The domestic stock market has the potential to gain positive sentiment following the meeting between exchange authorities and MSCI. This was reflected in the 1.92% rise of the EIDO ETF and a 1.32% increase in MSCI Indonesia during the previous trading session.

Regarding market policy, Acting President Director of the Indonesia Stock Exchange (BEI), Jeffrey Hendrik, announced plans to issue a shareholders concentration list to enhance market transparency and integration, referring to practices implemented by the Hong Kong Exchange.

BEI is also reviewing the disclosure of investor data with ownership above 1.00% without limiting it to 5.00%, as well as expanding investor classifications into 28 subcategories. The implementation of this policy is targeted for late February or early March, while the methodology for calculating ownership concentration remains under review.

On the corporate front, Multitrend Indo (BABY) announced its plan to acquire toy distributor Emway Globalindo (EGI) in a transaction valued at Rp269.99 billion.

The acquisition will be executed through a capital increase with Pre-emptive Rights (HMETD I), combined with bank loan facilities. BABY plans to issue 238.60 million new shares at an exercise price of Rp590 per share.

A total of 220.34 million shares will be allocated as inbreng for EGI shares valued at Rp143.00 billion, equivalent to a 48.00% stake contributed by the controlling shareholder, Blooming Years Pte. Ltd. (BY). The remaining HMETD funds of approximately Rp139.99 billion will be used to purchase the remaining 52.00% stake in EGI from BY in cash, supported by financing from Bank CIMB Niaga.

Today’s stock recommendations from Mega Capital Sekuritas are as follows:
BRPT – Buy at 2250–2280 | Target Price 2340–2390 | Stop Loss 2120
TLKM – Buy at 3500–3530 | Target Price 3600–3700 | Stop Loss 3530
MBMA – Buy at 710–720 | Target Price 745–765 | Stop Loss 670
RAJA – Buy at 4760–4780 | Target Price 4900–5050 | Stop Loss 4470
INET – Buy at 372–378 | Target Price 392–406 | Stop Loss 348

All analyses and stock recommendations presented in this article are for informational purposes only and do not constitute an invitation or recommendation to buy or sell any specific securities. Investment decisions remain entirely the responsibility of each investor, based on their individual risk profile and financial objectives. Invest wisely.