In eight months to August 31, only ten stockbroking firms traded stocks worth N1.369trillion or 56.38percent of the total value of equities exchanged on the Nigerian bourse same period.
In the eight months to August, Nigeria’s equities market capitalisation garnered about N8.5trillion. The stock market, which saw sections of profit taking and bargain hunting reached a 15-year high ahead of last month end.
The monthly broker performance report from January 1 through August 31 shows that CardinalStone Securities Limited led the league after accounting for N315.560billion or 12.99percent.
It was followed by APT Securities and Funds which traded equities worth N197.868billion in eight months, representing 8.15percent of the total value of equities traded, and Stanbic IBTC Stockbrokers Limited which came third, after accounting for equities trade worth N171.188billion or 7.05percent.
Also, Meristem Stockbrokers Limited made the top-10 list of brokers by value of stocks traded in the eight months to August after accounting for N133.097billion worth of equities, representing 5.48percent.
United Capital Securities Limited accounted for N129.035billion worth of equities transactions in same eight months period, representing 5.31percent.
It was followed by FBN Quest Securities Limited which accounted for transactions worth N105.062billion or 4.33percent; and EFG Hermes Nigeria Limited which traded stocks worth N100.683billion or 4.15percent of the total value of stocks traded on the Nigerian Exchange Limited in the review eight months period.
Also in the same period, while Cordros Securities Limited accounted for N92.423billion or 3.81percent, Regency Assets Management Limited traded equities worth N63.836billion in eight months to August, representing 2.63percent of the total. Apel Asset Limited also made the top-10 list with stocks trade worth N60.608billion or 2.50percent.
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The pro-market posture of President Bola Ahmed Tinubu’s administration had increased stock investors’ confidence and optimism in the stock market. Likewise, the broadly positive sentiment that has lingered in the Nigerian equities market since the start of May persisted through just ended August.
In terms of volume of trades, ten stockbroking firms traded 105.611billion shares in same eight months period under review, representing 53.79percent of the total volume of trade at the NGX in same period.
The broker report on volume of trade in eight months to August shows United Capital Securities Limited (28.477billion units or 14.50percent), CardinalStone Securities Limited (18.617billion units or 9.48percent), Apel Asset Limited (12.946billion units or 6.59percent), APT Securities and Funds (9.849billion units or 5.02percent), Morgan Capital Securities Limited (9.454billion units or 4.82 percent), and Meristem Stockbrokers Limited (6.664billion units or 3.39percent).
Further check on the top-10 stockbrokers by volume shows Stanbic IBTC Stockbrokers Limited traded 5.655billion units in the review eight months period or 2.88percent; while Regency Assets Management Limited traded 5.002billion units or 2.55percent, EFG Hermes Nigeria Limited (4.474billion units or 2.28percent), and FBN Quest Securities Limited (4.468billion units or 2.28percent).