• Tuesday, May 21, 2024
businessday logo

BusinessDay

CardinalStone leads 9 others in N820.44bn transactions on NGX

Investors outline ways startups can become growth firms

CardinalStone Securities Limited, United Capital Securities Limited, Stanbic IBTC stockbrokers limited traded the lion share of N820.44 billion of the top ten stockbroker’s worth on the Nigerian Exchange last week.

According to NGX the top 10 stockbrokers are responsible for 52.85 percent of the total value of stocks traded the previous week.

The market witnessed bearish sentiments as the NGX-ASI recorded a week-on-week loss of 1.1 percent to close at 103,437.67 points. Consequently, market capitalisation shed 1.1 percent to N58.5trillion.

Read also: The VFD Group raises N12.5bn, lists additional shares on the NGX

Across sectors, performance was bearish as four indices lost, one gained while the Oil & Gas index closed flat. Leading the laggards, the Banking and Insurance

The following are the top 10 stockbroker;

Cardinalstone Securities (CSSL)

CSSL cornered 9.9percent of the traded value at N153.7 bn. It traded a total of 6.02 billion units of stocks which amounted to 8.45 percent of the total trade of the week.

CSSL is a securities trading subsidiary of CardinalStone Partners Limited that offers a bouquet of investment services to its clients.

It is a full-fledged dealing member of the NGX and registered with the Nigerian Securities and Exchange Commission (SEC) as a broker/dealer. They are also registered with FMDQ OTC Securities Exchange as a dealing member and the NASD OTC Securities Exchange as a participating institution.

United Capital Securities Limited

Last week, United Capital Securities Limited was the second highest broker, recording N118. 07 billion worth of transactions, which is about 7.61 percent of the total traded value of the NGX. It traded over 2.82 billion million units, 3.93 percent of the volume traded.

Stanbic IBTC Stockbrokers Limited

At third place Stanbic IBTC Stockbrokers Limited raked in N113.67 billion worth of shares during trades last week this was 7.32 percent of the total value traded. It traded over N2.85 billion units which was 3.98 percent of the total volume traded.

Stanbic IBTC Stockbrokers is the wholly owned stockbroking subsidiary of Stanbic IBTC Holdings PLC. The company is duly registered by the Securities and Exchange Commission (SEC) and was licensed on the 24 June 1987 by the Nigerian Exchange Limited to deal securities on the floor of the Exchange.

APT Securities & Funds

APT Securities & Funds which traded N105.75 billion or 6.8 percent was the fourth largest broker. It sold over 1.44 billion units or 2.02 percent.

EFGH Hermes Nigeria Limited

This stockbroker traded N66.91 billion worth of shares amounting to 4.31percent of the total value traded at the bourse last week. It sold over 1.66 billion units last week.

Read also: NGX Group makes strategic investment in Ethiopian Securities Exchange

Meristem Stockbrokers Limited

Meristem Securities traded N65.34 billion worth of shares amounting to 4.21 percent of the total value traded at the bourse last week, selling over 3.36 billion units last week.

Cordros Securities

Cordros Securities traded N62.94 billion worth of shares amounting to 4.05 percent of the total value traded at the bourse last week.

Apel Asset Limited

Apel Asset Limited traded N46.4 billion worth of shares amounting to 2.99 percent of the total value traded at the bourse last week, selling over 1.44 billion units last week.

MORGAN CAPITAL SECURITIES LIMITED

Morgan Capital Securities Limited traded N45.63 billion worth of shares amounting to 2.94 percent of the total value traded at the bourse last week, selling over 5.52 billion units last week.

CSL Stockbrokers

CSL Stockbrokers traded N41.92 billion worth of shares amounting to 2.70 percent of the total value traded at the bourse last week, selling over 141.1 million units last week.