Retail investors have net bought S$888 million of Singapore stocks over eight trading sessions since the Straits Times Index (STI) reached a record high of 5,828.5 on Sept 4, according to the Singapore Exchange (SGX).
The buying, recorded through Sept 16, lifted cumulative net retail inflows for 2026 from S$3.13 billion to S$4.02 billion, while institutional net selling widened by S$163 million over the same period.
Retail buying was concentrated in large-cap stocks, with DBS Group Holdings, Oversea-Chinese Banking Corporation and Singapore Exchange accounting for around two-thirds of total net retail purchases.
All three companies reported double-digit returns on equity in the first half of 2026, while OCBC also reported a record 1H26 net profit and a 15% increase in its interim dividend.
The retail buying came despite the 20 stocks with the highest net retail inflows averaging a 3.7% decline between Sept 4 and Sept 16. This compared with an average 4.5% gain among the 20 stocks with the highest net retail selling.
SGX said the divergence pointed to a continued value-oriented bias among retail investors, with buying concentrated in stocks that had lagged the broader market rather than those that had led the advance.
Among smaller and mid-cap stocks, ISDN Holdings recorded the highest net retail buying relative to market capitalisation. Retail investors recorded S$5 million of net buying in the stock, equivalent to 1.9% of its market capitalisation, despite the shares falling 12.8% over the eight sessions.
ISDN reported record 1H26 revenue of S$253.6 million, up 19.1% year-on-year, while profit attributable to shareholders rose 707% to S$10.4 million. Its industrial automation order book also more than doubled from a year earlier.
Retail buying relative to market capitalisation among smaller and mid-cap stocks was concentrated in REITs and selected industrial and healthcare counters.
REITs accounted for seven of the top 20 stocks by this measure, while SingPost, ComfortDelGro and SATS were among the leading industrial names.
SGX said most of these stocks also declined during the period, suggesting retail participation remained focused on counters that had pulled back in price.
The data covers trading activity through Sept 16, 2026.
