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Cardinalstone, APT Securities, Stanbic, Meristem, 6 others lead 5-month equities deal

…trade N1.08trn worth of Nigeria stocks in 5 months

In five months to May 31, Cardinalstone Securities Limited, APT Securities and Funds, Stanbic IBTC Stockbrokers Limited, Meristem Stockbrokers Limited, and six (6) other stockbroking firms that traded equities valued at N1.076trillion, which represents 71.29percent of the total value of stocks traded on the Nigerian Exchange Limited (NGX) in same period.

The NGX broker performance report for the period (January 4 to May 31) shows that Cardinalstone Securities Limited topped the league with equities transactions valued at N489.381billion, which represent 32.41percent of the total value of stocks traded same period.

It was followed by APT Securities and Funds which traded N150.008billion worth of equities, representing 9.94percent of the total value traded on the Bourse in five month; while Stanbic IBTC Stockbrokers Limited came third in the five months under review, after trading stocks worth N94.098billion or 6.23 percent of the total value of equities exchanged on the Exchange in same period.

Others stockbroking firms that made the top 10 league and the value of equities they traded in the five months to May 31, according to the report are: Meristem Stockbrokers Limited (N84.714billion or 5.61percent); EFG Hermes Nigeria Limited (N62.953billion or 4.17percent); Cordros Securities Limited (N49.925billion or 3.31percent); and Chapel Hill Denham Securities Limited (N46.724billion or 3.09percent).

Also on the top 10 brokers by value list are firms like CSL Stockbrokers Limited (N43.749billion or 2.90percent); Rencap Securities (Nig) Limited (N32.920billion or 2.18percent); and Morgan Capital Securities Limited (N21.880billion or 1.45percent).

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Also, market data on top stockbrokers by volume of shares they traded in the review five months period showed that only 10 stockbroking firms traded 102.305billion units or 72.49percent of the total volume of shares exchanged same period.

Cardinalstone Securities Limited also led others after trading 70.044billion shares which represents 49.63percent of the total volume of shares traded on the Exchange same period.

Others top brokers by volume of shares they exchanged are: Chapel Hill Denham Securities Limited (7.344billion units or 5.20percent); APT Securities and Funds (5.039billion units or 3.57percent); Morgan Capital Securities Limited (4.753billion units or 3.37percent); CSL Stockbrokers Limited (4.030billion units or 2.86percent); and Meristem Stockbrokers Limited (2.828 billion units or 2percent).

They were followed by Cordros Securities Limited which traded 2.459billion units or 1.74percent of the total shares traded on the Bourse in same period; followed by Stanbic IBTC Stockbrokers Limited (2.398billion units or 1.70percent); Finmal Finance Company Limited (1.740billion units or 1.23percent); and EFG Hermes Nigeria Limited (1.665billion units or 1.18percent).