Top Singapore large-cap stocks to watch in 2026

What are Singapore large-cap stocks?

Singapore large-cap stocks refer to publicly listed companies on the Singapore Exchange (SGX) with market capitalisations typically exceeding S$10 billion. These firms are often regional powerhouses with diversified operations across Asia and beyond, spanning sectors such as banking, telecommunications, real estate, and consumer goods.

The most prominent representation of these stocks is found in Straits Times Index (STI), Singapore’s benchmark equity index. The STI tracks the performance of the top 30 companies listed on SGX by market capitalisation and liquidity.² They include household names like DBS Group Holdings, Singapore Telecommunications (Singtel), and Keppel Corporation.

Trading vs investing in Singapore large-cap stocks

CFD trading with IG Singapore

For those seeking short-term exposure or tactical positioning, CFDs offer a flexible way to speculate on price movements without owning the underlying shares. IG Singapore’s CFD platform allows users to:

• Trade with leverage, amplifying both gains and losses
• Short sell, profiting from downward price movements
• Avoid direct ownership, meaning no voting rights or shareholder privileges
• Receive dividend adjustments, though not actual dividends
• Hold positions overnight, incurring financing costs in the process

CFD trading is typically suited for active traders who prioritise liquidity and directional bets over long-term capital appreciation.

Direct share investing via IG Markets app

For long-term investors, direct ownership of Singapore large-cap stocks provides exposure to dividend income, capital growth, and corporate governance participation. IG Singapore recently launched the IG Markets investing app, designed to simplify access to Singapore equities for retail investors. The app supports:

• Fractional share investing, lowering entry barriers
• Portfolio tracking and research tools
• Access to STI constituents and other SGX-listed stocks

The IG Markets app complements IG’s trading suite by offering a regulated, user-friendly gateway for long-term investing, aligning with the growing demand for passive and strategic equity exposure in Singapore.

Top 10 Singapore large-cap stocks

_{*As of 18 February 2026}

1. DBS Group Holdings (SGX: D05)

Sector: Banking and financial services
Market cap: S$187.2 billion

About the company: DBS Group is Singapore’s largest bank by assets, offering consumer, corporate, and wealth management services across Asia.

Latest earnings (Q1 FY2026):

• Total income: S$5.95 billion (+1% YoY), a record high.
• Net interest income: S$3.49 billion (−5% YoY), impacted by lower interest rates and stronger Singapore dollar.
• Non‑interest income: S$2.46 billion (+41% YoY).
• Net profit: S$2.93 billion (+1% YoY).
• Return on equity (ROE): 17.0%, down from 17.3% a year ago.
• Asset quality: Non-performing loan (NPL) ratio stable at 1.0%.
• Capital ratios: CET‑1 at 16.9% (transitional), 14.8% fully phased‑in.

Dividend payout (Q1 FY2026):

• Ordinary interim dividend: S$0.66 per share.
• Capital return dividend: S$0.15 per share.
• Total dividend declared: S$0.81 per share (~S$2.3 billion payable).

Stock information (22 June 2026):

• Price-to-earnings (P/E) ratio: 17.2 times
• Price-to-book (P/B) ratio: 2.7 times
• 200‑day moving average share price: S$56.60
• Average daily trading volume (three‑month): ~5.4 million shares
• Dividend yield (five-year average): 4.6%

Analyst ratings and share price targets (22 June 2026): 

• Rated ‘buy’ by 47% of analysts polled by FactSet.
• Another 41% and 12% rated the stock a ‘hold’ and ‘sell’ respectively.
• Average 12-month price target of S$61.92, indicating DBS shares are overpriced.

2. OCBC (SGX: O39)

Sector: Banking and financial services
Market cap: S$110.6 billion

About the company: OCBC is Singapore’s oldest bank, operating in 18 markets across Southeast Asia and Greater China. Key businesses include consumer, SME (small and medium-sized enterprise), and wealth banking.

Latest earnings (Q1 FY2026):

• Group total income: S$3.83 billion (+5% YoY).
• Net interest income: S$2.22 billion (−5% YoY), reflecting lower interest rates.
• Non‑interest income: S$1.61 billion (+23% YoY), driven by fee income from trading and insurance.
• Group net profit: S$1.97 billion (+5% YoY).
• Return on equity (ROE): 13.0%, unchanged YoY.
• Asset quality: NPL ratio stable at 0.9%.
• Capital ratios: CET‑1 at 17.0% (transitional), 15.2% fully phased‑in.

Dividend payout (Q1 FY2026):

• Ordinary dividend payout ratio: 50%. (8 May 2026)
• Complete S$2.5 billion capital return plan by end-FY2026.

Stock information (22 June 2026): 

• P/E ratio: 14.9 times
• P./B ratio: 1.7 times
• 200‑day moving average share price: S$20.21
• Average daily trading volume (three‑month): ~6.9 million shares
• Dividend yield (five‑year average): ~4.8%

Analyst ratings and share price targets (22 June 2026): 

• FactSet consensus rating: 53% ‘buy’, 29% ‘hold’, 18% ‘sell’.
• Average 12‑month price target: ~S$23.50, suggesting the stock is overpriced.

3. United Overseas Bank (SGX: U11)

Sector: Banking and financial services 
Market cap: S$64.8 billion

About the company: UOB is Singapore’s third‑largest bank, with a footprint across retail and wholesale banking. It operates over 500 branches across 19 countries regionally.

Latest earnings (Q1 FY2026):

• Group total income: S$3.42 billion (−6% YoY).
• Net interest income: S$2.32 billion (−4% YoY), reflecting lower benchmark rates.
• Non‑interest income: S$1.10 billion (−12% YoY), supported by treasury and trading gains.
• Group net profit: S$1.44 billion (−4% YoY).
• Return on equity (ROE): 11.5%, down from 12.3% a year ago.
• Asset quality: NPL ratio stable at 1.5%.
• Capital ratios: CET‑1 at 15.3% (transitional), 15.2% fully phased‑in (loaded).

Dividend payout (FY2025): 

• Interim dividend: S$0.85 per share
• Final dividend: S$0.71 per share
• Ordinary dividend payout ratio: 50%. 

Stock information (22 June 2026):

• P/E ratio: 14.3 times
• P/B ratio: 1.3 times
• 200‑day moving average share price: S$36.23
• Average daily trading volume (three‑month): ~3.0 million shares
• Dividend yield (five‑year average): ~4.7%

Analyst ratings and share price targets (22 June 2026):

• FactSet consensus rating: 31% ‘buy’, 63% ‘hold’, 6% ‘sell’.
• Average 12‑month price target: ~S$39.46, suggesting the stock is trading at a fair price.

4. Singapore Telecommunications (SGX: Z74)

Sector: Telecommunications
Market cap: S$71.2 billion

About the company: Singtel is Asia’s leading communications technology group, with operations in Singapore and Australia (Optus), and regional associates including Bharti Airtel, AIS, Globe, and Telkomsel. It provides mobile, broadband, enterprise ICT, and digital services across Asia Pacific.

Latest earnings (FY2026): 

• Group revenue: S$14.3 billion (+0.8% YoY).
• EBITDA: S$3.8 billion (+1.5% YoY).
• Net profit (PATMI): S$5.6 billion (+39.5% YoY).
• Underlying net profit: S$2.8 billion (+12.1% YoY).
• Regional associates: Post-tax earnings grew by 11.3% YoY to S$2.0 billion.
• Free cash flow: S$2.4 billion (down by 1.5% YoY).
• FY2027 outlook: capital expenditure of S$3.0 billion, compared to FY2026’s S$2.5 billion.

Dividend payout (FY2026): 

• Ordinary dividend: 10.3 Singapore cents per share.
• Interim dividend: 6.4 Singapore cents per share.
• Total dividend declared: 13.4 Singapore cents per share.
• Dividend payout ratio: 80%.

Stock information (22 June 2026): 

• P/E ratio: 12.9 times
• P/B ratio: 2.5 times
• 200‑day moving average share price: S$4.62
• Average daily trading volume (three‑month): ~39.1 million shares
• Dividend yield (five‑year average): ~3.5%

Analyst ratings and share price targets (22 June 2026): 

• FactSet consensus rating: 88% ‘buy’, 6% ‘hold’, 6% ‘sell’.
• Average 12‑month price target: ~S$5.40, suggesting the stock is underpriced by as much as 23%.

5. ST Engineering (SGX: S63)

Sector: Engineering and technology
Market cap: S$33.7 billion

About the company: ST Engineering is a global technology, defence, and engineering group headquartered in Singapore. It operates across aerospace, smart city, defence, and public security segments, delivering integrated solutions in over 100 countries.

Latest earnings (Q1 FY2026):

• Group revenue: S$3.3 billion (+11% YoY), driven by growth across all three segments.
• Commercial Aerospace revenue: S$1.32 billion (+15% YoY).
• Urban Solutions & Satcom revenue: S$0.53 billion (+18% YoY).
• Defence & Public Security revenue: S$1.41 billion (+7% YoY).

Dividend payout (Q1 FY2026):

• Interim dividend: S$0.04 per share (unchanged YoY).

Stock information (22 June 2026):

• P/E ratio: 73.6 times
• P/B ratio: 13.1 times
• 52‑week share price range: S$7.54 to S$11.63
• 200‑day moving average share price: S$9.64
• Average daily trading volume (three‑month): ~4.9 million shares
• Dividend yield (five‑year average): 3.7%

Analyst ratings and share price targets (22 June 2026):

• FactSet consensus rating: 57% ‘buy’, 36% ‘hold’, 7% ‘sell’.
• Average 12‑month price target: S$11.61, suggesting the stock is underpriced by as much as 7%.

6. Singapore Airlines (SGX: C6L)

Sector: Aviation
Market cap: S$23.1 billion

About the company: SIA is the national carrier of Singapore, operating a dual‑brand portfolio with Scoot. The group serves over 130 destinations worldwide, and has diversified passenger and cargo operations.

Latest earnings (H2 FY2025/26): 

• Group revenue: S$10.85 billion (+8% YoY), a ‘record’ second half.
• Operating profit: S$1.57 billion (+72% YoY).
• Total expenditure: S$9.28 billion (+1.6% YoY), driven by higher non‑fuel costs (+5.0%).
• Net profit: S$945 million (−54% YoY), impacted by absence of prior year’s one‑off accounting gain.
• Passenger load factor (PLF): 87.6% (highest for any second half period).
• Cargo flown revenue: S$1.08 billion (−1.3% YoY).
• Net fuel cost: Fell 6.7% YoY, aided by hedging gains.

Dividend payout (FY2025/26): 

• Ordinary dividend: 27 cents per share (5 cents interim + 22 cents final).
• Special dividend: 10 cents per share (3 cents interim + 7 cents final).
• Total dividend declared: 37 cents per share (~S$1.2 billion payable).

Stock information (23 June 2026):

• P/E ratio: 19.9 times
• P/B ratio: 1.3 times
• 52‑week share price range: S$6.21 to S$7.63
• 200‑day moving average share price: ~S$6.58
• Average daily trading volume (three‑month): ~7.5 million shares
• Dividend yield (five‑year average): ~3.5%

Analyst ratings and share price targets (22 June 2026):

• Consensus rating: 17% ‘buy’, 75% ‘hold’, 8% ‘sell’.
• Average 12‑month price target: ~S$6.82, suggesting the stock is overpriced by at least 7%.

7. Keppel Corporation (SGX: BN4)

Sector: Energy, real estate, and asset management
Market cap: S$20.1 billion

About the company: Keppel is a global asset manager and operator headquartered in Singapore, with businesses spanning infrastructure, real estate, and connectivity. It manages private funds, REITs, and trusts, while delivering sustainability‑related solutions in clean energy, decarbonisation, urban renewal, and digital infrastructure.

Latest earnings (Q1 FY2026): 

• Net profit: ‘Slightly lower YoY’, according to the company’s Q1 2026 business update.
• Asset management fees: S$108 million (+13% YoY).
• Cash flow: ‘Strong free cash inflow’ during the quarter from operating and investing activities, compared to outflows in Q1 FY2025.
• Asset monetisation: S$385 million announced year-to-date, including i12 Katong.

Dividend payout (FY2025):

• Final dividend: S0.19 per share.
• Special dividend: S$0.02 per share.

Stock information (23 June 2026): 

• P/E ratio: 20.0 times
• P/B ratio: 1.9 times
• 200‑day moving average share price: ~S$10.76
• Average daily trading volume (three‑month): ~4.6 million shares
• Dividend yield (five‑year average): 4.4%

Analyst ratings and share price targets (22 June 2026): 

• FactSet consensus rating: Majority ‘buy’ (62% of analyst calls), 23% ‘hold’, 15% ‘sell’.
• Average 12‑month price target: ~S$12.20, suggesting ~10% upside potential.

8. CapitaLand Integrated Commercial Trust (SGX: C38U)

Sector: Real estate investment trust (REIT) – commercial and retail
Market cap: S$18.4 billion

About the company: CICT is Singapore’s largest listed REIT, with a diversified portfolio of prime retail and office assets across Singapore, Germany, and Australia. It is a flagship vehicle of CapitaLand Investment, positioned as a core proxy for Singapore’s commercial property market.

Latest earnings (Q1 FY2026):

• Gross revenue: S$426.7 million (+8.0% YoY).
• Net property income (NPI): S$314.4 million (+7.9% YoY).
• Portfolio occupancy: 95.2% (down 1.7 percentage points QoQ).
• Aggregate leverage: 38.5% (stable).
• Average cost of debt: 2.9% (down from 3.2% at end‑2025).
• Distribution per unit (FY2025): 11.58 Singapore cents (+6.4% YoY).

Stock information (23 June 2026):

• P/E ratio: 18.5 times
• P/B ratio: 1.1 times
• 200‑day moving average share price: S$2.36
• Average daily trading volume (three‑month): ~31.5 million units
• Dividend yield (five‑year average): 4.8%

Analyst ratings and share price targets (23 June 2026):

• Consensus rating: 87% ‘buy’, 13% ‘hold’, 0% ‘sell’.
• Average 12‑month price target: ~S$2.71, suggesting ~17% upside potential.

9. Singapore Exchange (SGX: S68)

Sector: Financial services
Market cap: S$25.7 billion

About the company: SGX is Asia’s leading multi‑asset exchange, offering equities, fixed income, currencies, and commodities trading. It operates clearing, settlement, and data services, positioning itself as a gateway to Asian capital markets.

Latest earnings (H1 FY2026):

• Operating revenue: S$695.4 million (+7.6% YoY).
• EBITDA (unadjusted): S$466.1 million (+9.6% YoY).
• Net profit attributable to equity holders of the company (NPAT): S$342.7 million (stable).
• Earnings per share: 32.0 Singapore cents (stable YoY).

Dividend payout (H1 FY2026): 

• Interim quarterly (Q2 FY2026) dividend: S$0.11 per share, up by S$0.02.
• Total dividends (H1 FY2026): 21.08 Singapore cents per share, up by 20.8% YoY.

Stock information (23 June 2026):

• P/E ratio: 39.7 times
• P/B ratio: 11.3 times
• 200‑day moving average share price: S$18.64
• Average daily trading volume (three‑month): ~2.7 million shares
• Dividend yield (five‑year average): 3.1%

Analyst ratings and share price targets (22 June 2026): 

• FactSet consensus rating: 47% ‘buy’, 40% ‘hold’, 13% ‘sell’.
• Average 12‑month price target: ~S$21.99, suggesting ~8% downside.

10. Wilmar International (SGX: F34)

Sector: Agribusiness 
Market cap: S$23.1 billion

About the company: Wilmar is Asia’s leading agribusiness group, with integrated operations spanning oilseeds, grains, edible oils, sugar, and plantation activities. It is one of the world’s largest processors of palm oil and a major player in packaged food distribution across Asia.

Latest earnings (Q1 FY2026):

• Revenue: US$19.75 billion (+21.9% YoY).
• Net profit: US$265.6 million (−22.8% YoY).
• EBITDA: US$1.05 billion (−3.7% YoY).
• Net cash from operating activities: US$1.69 billion (−18.5% YoY).
• Dividend payout: No interim dividend declared.

Stock information (22 June 2026): 

• P/E ratio: 12.7 times
• P/B ratio: 0.8 times
• 200‑day moving average share price: S$3.38
• Average daily trading volume (three‑month): ~9.4 million shares
• Dividend yield (five‑year average): 4.4%

Analyst ratings and share price targets (22 June 2026): 

• FactSet consensus rating: 8% ‘buy’, 83% ‘hold’, 8% ‘sell’.
• Average 12‑month price target: S$3.75, indicating the stock is trading at a fair price.

Singapore large-cap stocks trading and investing strategies

Singapore large-cap stock CFD trading strategies

► Day trading strategy

Day trading involves opening and closing positions within the same trading day. This strategy is particularly suitable for volatile stocks.

Advantages: No overnight financing charges, reduced exposure to gap risk, ability to capitalise on intraday volatility.

Considerations: Requires significant time commitment, faster decision-making and strong emotional discipline.

► Swing trading strategy

Swing trading involves holding positions for several days to weeks, aiming to capture medium-term price movements.

Advantages: Less time-intensive than day trading, ability to capture larger price movements, suitable for traders with other commitments.

Considerations: Exposure to overnight financing charges, gap risk over weekends, requires patience and discipline.

► Event-driven trading

This strategy focuses on trading around specific events like earnings announcements, product launches or regulatory decisions.

Advantages: Clear catalysts for price movements, well-defined risk/reward scenarios, ability to plan trades in advance.

Considerations: High volatility around events, potential for gap movements, requires thorough fundamental research.

Singapore large-cap stock investing strategies

► Long-term growth investing

Focuses on buying and holding companies with strong fundamentals and long-term potential, such as DBS. 

Advantages: Potential for compounding returns over time, lower transaction frequency and costs. 

Considerations: Requires patience and tolerance for market cycles, may underperform during economic downturns, while long holding periods mean delayed access to capital.

► Sector rotation

Involves shifting investments between sectors based on macroeconomic cycles—for example, rotating from tech to utilities during downturns.

Advantages: Tactical exposure to outperforming sectors, can enhance returns during economic transitions, useful for managing cyclical risk.

Considerations: Requires active monitoring of macro trends, timing mistakes can lead to underperformance, while sector ETFs may dilute exposure to top-performing stocks.

► Thematic investing

Focuses on long-term trends like AI, clean energy, or autonomous vehicles.

Advantages: Aligns with future growth narratives, offers exposure to innovation and disruption, can be diversified across multiple companies via ETFs.

Considerations: Themes may take years to materialise, high volatility and valuation risk, and requires conviction and long-term horizon.

Risk management and trading considerations

► Understanding leverage risks

CFD trading with leverage magnifies both potential profits and losses. A small adverse price movement can result in significant losses that exceed your initial deposit.

► Market volatility factors

Singapore large-cap stocks can be influenced by:

• Regional economic conditions
• US-China trade relations
• Global interest rate changes
• Sector-specific developments

► Overnight financing costs

Positions held overnight incur financing charges based on the underlying interest rate and the size of your position.

How to trade and invest in SG large-cap stocks with IG Singapore

CFD share trading
 

1. Create a live or demo account
2. Find an opportunity among one of our 10,000+ stocks with our  stock screener
3. Click ‘buy’ to go long or ‘sell’ to short
4. Set your position size
5. Take steps to manage your risk
6. Open and monitor your position

Investing
 

1. Open an account via IG Markets Singapore app
2. Search for Singapore large-cap stocks on the app
3. Choose the shares you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment and collect any dividends

Singapore large-cap stocks FAQs

Footnotes: 
 

1 Moomoo Singapore, "How to Buy Straits Times Index (STI) in Singapore 2025" - minimum market capitalisation of S$300 million for STI inclusion, https://www.moomoo.com/sg/learn/detail-straits-times-index-sti-in-singapore-93047-230116062
2 Singapore Exchange (SGX), "Straits Times Index (STI)" - tracks 30 most valuable Singapore companies, https://www.sgx.com/indices/products/sti