STI dips 0.7% in October, industrials sector lead net institutional inflow

The FTSE ASEAN All-Share Index also declined 2.1% in SGD terms.

The Straits Times Index declined 0.7% in October, offsetting one-sixth of the 4.2% total return achieved in September, SGX reported.

The FTSE ASEAN All-Share Index also declined 2.1% in SGD terms during the period, whilst the industrials sector resisted the regional declines.

The trio of STI banks, DBS, OCBC, and UOB, which began the month making up 50% of the Index averaged a marginally defensive 0.7% total return on the month on $158m of net institutional outflow. This saw their combined Index weight increase to 51% at the end of October.

Overall market capitalisation also declined to $839b, due to declines in stocks such as Singapore Telecommunications (Singtel), CapitaLand Investment, and Singapore Airlines. 

In addition, Singtel also led the net institutional outflow in October with $116m net outflow, reducing the net institutional inflow to the stock over 10M 2024 to $743m.

The industrials sector dominated the 20 Singapore stocks that booked the highest net institutional inflow for the month.

Amongst the 20 stocks, Hongkong Land, SingPost, Wee Hur, DFI Retail, and SATS generated the strongest total returns on the month, averaging 15.4% total returns.

Meanwhile, the 20 stocks that booked the most net institutional outflow on the month averaged 6.3% declines in total return, with Aztech Global and Frencken leading the declines.