• Thursday, May 23, 2024
businessday logo

BusinessDay

CardinalStone, Stanbic lead as 10 firms trade stocks worth N1.02trn in 4 months

CardinalStone, Stanbic lead as 10 firms trade stocks worth N1.02trn in 4 months

In four months to April 30, ten stockbroking firms accounted for equities deals worth N1.024trillion or 54.11 percent of the total value of stocks traded on the Nigerian Exchange Limited (NGX) in same period.

According to Broker Performance Report by the Nigerian Exchange Limited (NGX), ten stockbroking firms that traded this value of equities in the review four months period are: CardinalStone Securities Limited, Stanbic IBTC Stockbrokers Limited, United Capital Securities Limited, Apt Securities and Funds, EFG Hermes Nigeria Limited, Meristem Stockbrokers Limited, Cordros Securities Limited, Chapel Hill Denham Securities Limited, Apel Asset Limited, and Morgan Capital Securities Limited.

CardinalStone Securities Limited led the league of top ten brokers by value of trade after trading stocks worth N197.535billion or 10.43 percent of the total value of equities traded same period. Stanbic IBTC Stockbrokers Limited followed after accounting for equities deals worth N185.330billion or 9.79percent. United Capital Securities Limited came third on the list accounting for equities trade worth N126.715billion or 6.69 percent.

Other are: Apt Securities and Funds (N110.305billion or 5.82percent), EFG Hermes Nigeria Limited (N96.783billion or 5.11percent), Meristem Stockbrokers Limited (N73.650billion or 3.89 percent), and Cordros Securities Limited (N73.143billion or 3.86 percent).

Also, other top-ten stockbrokers by value of stocks they traded in the four months period under review are Chapel Hill Denham Securities Limited (N57.149billion or 3.02percent; Apel Asset Limited (N53.635billion or 2.83percent), and Morgan Capital Securities Limited (N50.605billion or 2.67percent).