In the first quarter (Q1) ended March 2024, a total of 10 Nigerian stockbroking firms traded stocks worth N820.44 billion which represents 52.85 per cent of the total value of stocks traded on the Nigerian Exchange Limited (NGX) in the review period.
The report by NGX revealed that Cardinalstone Securities Limited led the chart, accounting for N153.77billion or 9.91per cent, followed by United Capital Securities Limited that accounted for stocks deals worth N118.07billion or 7.61 per cent.
Also, according to recently released broker performance report, Stanbic IBTC Stockbrokers Limited accounted for stocks deals worth N113.7billion or 7.32per cent, while APT Securities and Fund traded N105.76 billion worth stocks or 6.81 per cent of the total value of stocks traded on the NGX in same Q1 period.
Other top stockbroking firms in terms of value of transaction include: EFG Hermes Nig Limited (N66.9billion or 4.31per cent), Meristem Stockbrokers Limited (N65.35billion or 4.21per cent), and Cordros Securities Limited (N62.95billion or 4.05per cent).
Also on the top-10 list of brokers in terms of value of transactions in Q1 are: Apel Asset Limited (N46.4billion or 2.99per cent), Morgan Capital Securities Limited (N45.6 billion or 2.94 per cent) and CSL Stockbrokers Limited (N41.9billion or 2.70 per cent).
In terms of volume traded,
Cardinalstone Securities Limited led nine others of the 30.22 billion or 42.12 per cent total stocks traded in Q1 2024.
Cardinalstone Securities Limited in Q1 2024 traded 6.06 billion or 8.45 per cent volume of stocks, while Morgan Capital Securities Limited traded stocks worth 5.53 billion or 7.70 per cent.
In addition to the top three was APT Securities and Funds that traded 3.38 billion or 4.71 per cent worth of stocks in Q1 2024.
Source: CardinalStone, United Capital, Stanbic, 7 others trade N820.44bn stocks in Q1 – THISDAYLIVE
