Singtel booked the most net retail selling over the 13 sessions, clocking up S$170 million as the share price gained 10 per cent.

 

The overall volume weighted average price (VWAP) of the stock for the 13 sessions was S$2.90.

 

The stock booked S$43 million in net retail buying for the first two months of 2024, coinciding with the overall VWAP at S$2.38, followed by S$297 million of net retail selling over the remaining four months of H1 2024, that coincided with the VWAP at S$2.46.

 

Singtel has also seen a significant pickup in trading turnover this year, which on a day-to-day basis has been 60 per cent higher than the average daily turnover achieved during 2023.

 

While focused on the three pivotal areas of connectivity, digital services, and digital infrastructure, the company has continued to focus on enhancing operational efficiency, which includes the consolidation of consumer and enterprise units in Singapore and Australia.

 

Its capital recycling strategy has also unlocked S$8 billion to fuel its strategic shift and ST28 Growth strategy.

 

Recently, The Business Times reported that Singtel is set to gain approximately S$400 million from its associate Intouch Holdings&rsquo merger with Gulf Energy Development, leading to the creation of a major new public company in Thailand.

 

Singtel will exchange its Intouch stake for an estimated 9 per cent share in this new entity, which the telco expects will be ranked among Thailand&rsquo s largest and most traded companies.

 

Large-cap stocks typically lead in net selling and buying activities due to their higher market values.