Singapore’s India Stock Portfolio Drops 25% Amid Market Volatility
By Business Desk
Singapore Government’s Indian stock portfolio decreased by 25% to Rs 1.51 lakh crore by July 2026, despite strong gains in select stocks.
The Government of Singapore (GoS) saw its Indian stock market portfolio decline by nearly 25% as of July 24, 2026. This significant reduction occurred despite notable rallies in seven specific holdings within its diverse investment basket during CY26.
GoS maintains a substantial position among top foreign institutional investors (FIIs) in India. Its total portfolio value stood at Rs 1,51,353 crore in the June 2026 quarter, a decrease from Rs 1,99,504 crore recorded in December 2025.
Key Portfolio Metrics
- Total Indian listed stocks held: 39
- Market value as of July 24, 2026: Rs 1,51,353 crore
- Portfolio decline from Dec 2025 to July 2026: nearly 25%
- December 2025 portfolio value: Rs 1,99,504 crore
Despite the overall portfolio contraction, several individual stocks delivered robust returns. These top performers showcased gains ranging from 15% to 137% during the 2026 calendar year.
Top Performers in CY26
- Aditya Infotech: 137%
- Aegis Logistics: 88%
- Sona BLW Precision Forgings: 50%
- Apollo Hospitals Enterprise: 25%
- Craftsman Automation: 21%
- Power Finance Corporation: 16%
- IndusInd Bank: 15%
Conversely, other holdings experienced significant drawdowns. Five stocks within the GoS portfolio recorded declines exceeding 20% over the same period, highlighting a polarized market performance for the institutional investor.
Significant Laggards Identified
- Syngene International: 38%
- Sapphire Foods India: 30%
- ICICI Prudential Life Insurance Company: 25%
- HDFC Bank: 25%
- Kalpataru: 21%
- Vishal Mega Mart: 21%
The performance data from the June 2026 quarter illustrates a challenging period for the Government of Singapore’s Indian equity holdings. While several companies delivered strong individual growth, these gains were insufficient to offset broader portfolio value depreciation.