SGX – volatility delivers a strong March
📈 $SGX(S68.SI)$ have rallied strongly this year-to-date (YTD), and is currently ranked as the third best index stock performer on the Straits Times Index with a 23.9% gain (as of 4PM on Friday 10 April) STI’s YTD 7.2% increase
💫It was one of the rare performers in March through April despite the broad market sell-off since the outbreak of Iran war
📢Last Thursday, SGX reported their March statistics, which showed a strong month owing to the stock market volatility
📝On the back of the latest stats, Macquarie Research (MQ) published a research report on 9 April 2026 with a summary and their share price view
👀Read more for the full article containing excerpts of MQ’s report and important disclaimers:
Key highlights for Mar-26
Securities turnover rose 37% MoM/78% YoY, while securities daily average turnover increased 12% month-on-month (MoM) / 62% year-on-year (YoY) owing to more trading days (22 vs 18 in February). Velocity (turnover/market cap) was 56%, above the monthly average for the fiscal year of 42%.
Equity Index Futures volume rose 34% MoM / 23% YoY.
o FTSE China A50 Index Futures volume rose 33% MoM / 17% YoY.
o NSE IX Nifty 50 Futures volume rose 32% MoM / 31% YoY.o MSCI Singapore volume increased 23% MoM / 9% YoY.
o FTSE Taiwan volume increased 37% MoM / 47% YoY.
FX Futures volume increased 46% MoM / 79% YoY.
Metal and dry bulk commodity futures volume rose 52% MoM / 44% YoY. Energy commodity futures volumes rose 175% MoM / 128% YoY. Maintain Outperform
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MQ expects the shares to remain supported amidst ongoing market volatility, reflected in this strong set of statistics. MQ is also expect higher securities turnover to be maintained.
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MQ has an Outperform rating on SGX shares with a 12-month target price of $19.50 based on a Dividend Discount Model stock pricing methodology
Note:Macquarie Research is independent from the Warrants business, what the Macquarie Warrants desks quote from Macquarie Research may not reflect the complete analysis of Macquarie Research on the relevant company over time.
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Trending SGX call warrant $SGX MB eCW260929(NFUW.SI)$ (https://warrants.com.sg/tools/livematrix/NFUW ) is newly listed this month on 1 April and trading 29% higher to $0.080 since its listing date, given SGX’s 5.2% gain to $21 (as of 4PM on 10 April 2026) during this period.
As one might already have noted, the SGX call warrant cost a fraction of SGX’s share price and tends to move in greater percentages than the share price due to their gearing effect.
However, one may also wish to note that this geared effect is a double-edged sword, causing the warrants to fall in greater magnitude than the shares should your view be wrong.
There is no trending SGX put warrant that is quoted on tight spreads.
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