JAKARTA, Nov 8 (Reuters) - The operator of Indonesian e-commerce platform Blibli saw its stock rise as much as 4.9% in its trading debut on Tuesday, after raising 7.99 trillion rupiah ($509 million) in the nation's second-biggest initial public offering (IPO) this year.

The stock market in Jakarta has been the outlier in emerging Asia this year, with growth of about 7% so far, while most peers are in contraction.

Blibli operator PT Global Digital Niaga Tbk sold 17.77 billion shares or 15% of total capital in the share sale earlier this month at 450 rupiah each.

The stock rose as high as 472 rupiah on its debut, running counter to a hammering of technology stocks worldwide. It retreated to 452 rupiah by midday break, whereas the main stock index were trading 0.44% lower on Tuesday.

"We hope that our listing will increase investor confidence in Indonesia's tech sector, as well as have a positive effect on the country's digital economy," President Commissioner Martin Hartono said in a statement.

The market capitalisation of the firm stood at 53.3 trillion rupiah upon IPO, the company said.

The IPO followed a $1.1 billion share sale of Indonesia's biggest technology firm PT GoTo Gojek Tokopedia Tbk earlier this year and $1.5 billion sale last year of rival PT Bukalapak.com Tbk.

The shares of both GoTo and Bukalapak surged by double digits on their debuts, by 23% and 25% respectively, before posting gradual declines as analysts warned on tech valuations.

GoTo's shares on Tuesday were trading at 197 rupiah each or almost half of their IPO price. Bukalapak's shares were at 282 rupiah, down 66.8% from the IPO price.

Blibli, backed by of one of Indonesia's biggest conglomerates, Djarum Group, plans to use 69% of fund raised in the IPO to repay bank loans and the remainder for working capital to develop its platform. ($1 = 15,675.0000 rupiah) (Reporting by Stefanno Sulaiman and Ananda Teresia; Editing by Christopher Cushing)