The Indonesia Composite Stock Index (IHSG) moved higher again at the close of trading on Tuesday (December 2), rising 0.80% to the level of 8,617.04.
Shares of ASII (+3.92%), DSSA (+2.39%), and TPIA (+5.07%) served as the main contributors to the index’s strength, while TLKM (-2.47%), GOTO (-2.99%), and KLBF (-5.39%) recorded the largest drag on the IHSG.

Foreign investors posted a net buy of Rp749.20 billion, while total market-wide net buying reached Rp454.01 billion.

From a sectoral standpoint, 9 out of 11 sectors ended the session in positive territory, led by the industrial sector which advanced 2.75%. Meanwhile, the healthcare sector was the only one to decline, falling 0.77%.

On the corporate front, Energi Mega Persada (ENRG) reported the discovery of new natural gas reserves from its exploratory drilling at the Sengkang block in South Sulawesi, specifically at the East Walanga Structure (Exploration Well EWL-1).

The well is estimated to have the potential to produce 25–36 million cubic feet of gas per day. Estimated natural gas reserves in Sengkang for 9M25 stood at 60,683 MBOE, down by 1,750 MBOE from December 2024 figures, though reserves may increase following this latest exploration find.

Meanwhile, Dharma Polimetal (DRMA) has completed the acquisition of 82% of PT Mah Sing Indonesia (MSI) worth Rp41 billion. Of that amount, 65% was acquired from Vital Routes Sdn. Bhd., and 17% from PT Kingsanindo Perkasa Indah.

This transaction falls below the material threshold stipulated in POJK No.17/POJK.04/2020, considering DRMA’s equity value of Rp2.68 trillion during 9M25. The acquisition aims to strengthen business expansion in the four-wheel automotive plastic components segment, which currently contributes Rp988.18 billion or 22.5% of the company’s total revenue.

Stock Recommendations for Today

EMTK
Buy 1,280–1,285 | TP 1,325–1,370 | SL 1,200

TPIA
Buy 7,600–7,650 | TP 7,875–8,100 | SL 7,175

CDIA
Buy 2,080–2,090 | TP 2,180–2,250 | SL 1,950

BKSL
Buy 155–156 | TP 163–170 | SL 147

ASLC
Buy 88–89 | TP 94–96 | SL 83