Business

Total market value of listed companies up slightly in November

A surge of interest in banking stocks and a few initial public offerings helped drive market value further past the trillion-dollar mark over the last month.

The total market capitalisation of the 748 companies listed on the Singapore Exchange hit $1.014 trillion at the end of October, up 0.2 per cent on the $1.016 trillion at the end of November.

This is despite 393 companies that saw their market caps fall compared with the 207 that recorded increases.

Much of the overall gain in total market cap could be attributed to the stellar performance by the three banking stocks, which topped the list of gainers for the month.

OCBC Bank's market cap rose 4.6 per cent in November to $52.5 billion, while United Overseas Bank gained 6.4 per cent to $43.79 billion.

DBS Group's market cap surged 7.2 per cent to $62.64 billion, overtaking SingTel as the highest-valued primary-listed stock in Singapore.

Five debutantes added to trading excitement last month - seafood restaurant chain No Signboard, Cromwell Real Estate Investment Trust, pre-school operator MindChamps, restaurant group RE&S Holdings and Keppel-KBS US Reit.

- YASMINE YAHYA

BUSINESS & FINANCE