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CardinalStone, APT, Stanbic, others trade stocks worth N1.5trn in 9 months

NGX RegCo says leveraging technology for fairness, transparency in market

In nine months to September 30, equities worth N1.497trillion were traded by ten stockbroking firms, led by CardinalStone Securities Limited.

The other stockbroking firms are APT Securities and Funds, Stanbic IBTC Stockbrokers Limited, Meristem Stockbrokers Limited, United Capital Securities Limited, FBN Quest Securities Limited, EFG Hermes Nigeria Limited, Cordros Securities Limited, Apel Asset Limited, and Regency Assets Management.

These ten stockbroking firms were responsible for 54.92percent of the total value of stocks traded on the Nigerian Exchange Limited (NGX) from January to September, according to recently released broker performance report.

Read also: Investors trade N2.42trn worth of stocks in eight months

Cardinalstone Securities Limited traded stocks worth N359.885billion or 13.20percent of the total value traded on the Nigerian Exchange Limited in the review nine months period. Also in the review period, Apt Securities and Funds accounted for equities trade worth N205.892billion or 7.55percent.

Stanbic IBTC Stockbrokers Limited was responsible for N187.244billion worth of equities trade, representing 6.87percent, while Meristem Stockbrokers Limited accounted for N146.429billion or 5.37percent.

The report also shows that United Capital Securities Limited traded stocks worth N138.161billion or 5.07percent of the total value report in same nine months period.

It was followed by FBN Quest Securities Limited which traded equities worth N114.473billion or 4.20percent, and EFG Hermes Nigeria Limited which accounted for N110.336billion or 4.05percent of the total value of stocks traded on the Exchange in nine months to September.

Also, on the top ten brokers list by value of include Cordros Securities Limited which traded N101.896billion worth of stocks or 3.74percent, Apel Asset Limited (N67.481billion or 2.48percent), and Regency Assets Management Limited (N65.422billion or 2.40 percent).