Ten stockbroking firms dominated trading activities on the Nigerian Exchange Limited, accounting for N524.1bn in transactions between January 2 and February 29, 2024.
This figure represents 51.39 per cent of the total market value traded during the period.
According to the NGX Broker Performance Report, CardinalStone Securities Limited led in transaction value, executing trades worth N103.86bn, which accounted for 10.19 per cent of the total value. APT Securities and Funds followed closely with N94.28bn in trade value, contributing 9.24 per cent, while Stanbic IBTC Stockbrokers recorded N67.38bn in executed transactions, representing 6.61 per cent of total trades.
Other major brokers in the top ten ranking included Meristem Stockbrokers, which facilitated trades worth N44.73bn, making up 4.39 per cent of the market value. Cordros Securities followed with N44.04bn, contributing 4.32 per cent, while EFG Hermes Nigeria executed transactions worth N42.85bn, accounting for 4.20 per cent.
United Capital Securities also featured prominently, recording N37.71bn in trades, making up 3.70 per cent of total transactions. Morgan Capital Securities Limited traded N37.42bn, representing 3.67 per cent of market value. Apel Asset Limited facilitated trades worth N29.30bn, which accounted for 2.87 per cent, while Readings Investments Limited completed N22.53bn in transactions, contributing 2.21 per cent of the total trade value.
In terms of trade volume, Morgan Capital Securities Limited led with 4.8 billion units of shares traded, representing 8.56 per cent of total market transactions. CardinalStone Securities followed with 4.38 billion units, which accounted for 7.81 per cent, while APT Securities and Funds handled 3.03 billion shares, contributing 5.40 per cent of the total volume traded.
Meristem Stockbrokers recorded a trading volume of 2.81 billion units, representing 5.00 per cent of the total market volume. United Capital Securities followed with 2.07 billion units, contributing 3.70 per cent, while Stanbic IBTC Stockbrokers executed transactions involving 1.87 billion shares, making up 3.33 per cent of total trades.
Cordros Securities facilitated trades amounting to 1.15 billion units, accounting for 2.06 per cent, while Readings Investments Limited recorded a total of 1.09 billion shares traded, representing 1.95 per cent of market volume. Apel Asset Limited completed transactions involving 1.09 billion shares, making up 1.94 per cent, while EFG Hermes Nigeria traded 1.02 billion units, representing 1.82 per cent of the total volume.
Overall, the top 10 stockbroking firms accounted for 41.58 per cent of the total trade volume on the NGX during the review period.
The PUNCH reported that ten stockbrokers on the Nigerian Exchange traded about N57.69bn worth of shares in the week just ended.
