• In the 2024 year to Sep 3, the STI generated a 12.7% total return. Singtel has posted a 29% total return, while the stock’s average daily turnover (ADT) has surged 80% from S$50M in 2023 to S$90M in the 2024 year to Sep 3. Singtel has also booked the highest net institutional inflow of S$660M in the Singapore stock market for the period.
   
• Beyond the STI, more than 100 stocks have seen ADT more than double this year vs 2023, with the majority of these stocks representing the Industrials, Consumer Cyclicals and Technology Sectors. Within the group, the 30 stocks that have also booked the highest ADT in the 2024 year to Sep 3 generated 33% median total returns for the period. 
   
• While generating a 63% total return in 2024 year to Sep 3, Dyna-Mac Holdings has seen its ADT accelerate by 132%, with the increased trading volume coinciding with the group’s 1HFY4 revenue increasing 42.5% to $259.7 million, mainly due to the completion of major projects in 1HFY24. 
   

The STI generated a 12.7% total return in the 2024 year through to Sep 3. STI constituents that have seen the biggest increases in average daily turnover (ADT) this year from 2023 levels, include Singapore Telecommunications (Singtel), Jardine Cycle & Carriage and Mapletree Pan Asia Commercial Trust. 

Singtel ADT has increased 80% from S$50.3 million in 2023 to S$90.4 million in the 2024 year to Sep 3. Singtel’s 12 month consensus estimate target price has increased from S$3.08 at the end of 2023, to S$3.50 as of Sep 3. This has coincided with its share price gaining 26% from S$2.47 at the end of 2023 to S$3.10 on Sep 3. Singtel also paid a S$0.079 dividend that went ex-div on Aug 1, with the group committed to growing total dividends on a sustainable basis.  On Aug 15, Singtel also highlighted a strong start to FY25 with improvements in its core businesses in Singapore and Australia, strong bookings for NCS, and Nxera's new data centre project in Malaysia. For its 1QFY25, Singtel’s underlying net profit was up 5.4% to S$603 million, and would have increased 8.7% in constant currency terms from strong core operating performance, partly offset by lower profit contributions from Airtel and Telkomsel. This followed Singtel launching ST28, a new growth plan to enhance customer experiences and deliver sustained shareholder value in May, following on from its successful strategic reset initiated in 2021 to leverage technology and digitalisation accelerated by COVID.

Beyond the STI constituents are a slate of stocks that have seen significant increases in ADT which in most cases has outpaced price gains, reflecting higher trading volumes for 2024 to Sep 3 versus respective 2023 levels. Of the 110 stocks that have seen ADT double so far in 2024 from 2023 levels, the 30 with the highest ADT this year are tabled below. 

Data as of 3 Sep 2024. Source SGX. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Inflow, ^Note on SGX Watchlist. 

Dyna-Mac Holdings tops the table above with its ADT increasing 132% from S$1.89 million in 2023 to S$4.37 million in the 2024 year to Sep 3. On Aug 6, the Groupreported its 1HFY24 revenue grew by S$77.4 million (42.5%) from 1HFY23 to $259.7 million, mainly due to the completion of major projects. Its 1HFY24 net profit also increased by 280.3% to S$38.8 million, driven by improved productivity and higher project volumes. Dyna-Mac Holdings maintains it is optimistic about future growth, supported by a $681.3 million orderbook and recent strategic initiatives to expand capacity and explore new sectors. It also asserts the outlook for fabricating topside modules for FPSO vessels remains strong, with the global market projected to grow from US$6.8 billion in 2020 to US$34.7 billion in 2032.

The 20 stocks with the highest percentage growth in ADT this year as compared to 2023 are tabled below. Note multiple stocks maintained a low base in ADT in 2023, or have maintained ADT of less than S$10,000 this year or maintain market capitalisation below  S$10 million. 

Data as of 3 Sep 2024. Source SGX. Note ADT refers to Average Daily Trading Turnover; NIF refers to Net Institutional Inflow, ^Note on SGX Watchlist. 
 

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