Market Overview and Key Developments

IHSG Performance on November 21

The Indonesian Composite Index (IHSG) closed 0.07% lower at 8,414.35 on November 21. The slight decline was influenced by mixed sector performance, with technology sector leading gains at +2.72% while the financial sector declined by 0.61%. Major contributors to the index included GOTO (+6.67%), BRMS (+4.21%), and EMTK (+8.62%), while TLKM (-3.85%), BBRI (-3.85%), and BBNI (-1.57%) were among the top detractors.

Foreign Investor Activity

Foreign investors recorded a net sell of Rp 232.30 billion in the regular market and Rp 26.57 trillion across all markets. This significant selling activity contributed to the overall market sentiment.

Corporate Updates

EXCL Dividend Announcement

XL Axiata (EXCL) announced a cash dividend of Rp 159 per share, totaling Rp 2.89 trillion, representing 30.6% of retained earnings. The dividend yield stands at 5.8% based on the closing price on November 21. Key dates include:

• Cum date: December 1
• Payment date: December 11

SULI Private Placement Plans

SLJ Global (SULI) is planning to conduct two private placements worth potentially Rp 95 billion (632 million shares at Rp 100 par value) and Rp 53.4 billion (356 million shares at Rp 150 par value). The plans are subject to Extraordinary General Meeting (EGM) approval on December 19. These placements are part of debt restructuring with creditors Gelora Patriot Jaya and SAS Global Jaya.

Sector Performance Analysis

The market showed mixed performance across sectors. The technology sector led gains with a 2.72% increase, supported by stocks like GOTO, EMTK, and related companies. Conversely, the financial sector declined by 0.61%, dragged down by major banks such as BBRI, BBNI, and TLKM.

Investment Recommendations

Several stocks were recommended for trading:

1. GOTO - Buy 62-64 | TP 66-68 | SL 59
2. EMTK - Buy 1245-1255 | TP 1275-1300 | SL 1170
3. INDO - Buy 294-300 | TP 306-314 | SL 278
4. SCMA - Buy 372-376 | TP 386-394 | SL 350
5. BANK - Buy 845-855 | TP 875-895 | SL 800

Disclaimer: Recommendations are for informational purposes only and not investment advice.