Cardinalstone, Stanbic, APT, others trade N341.63bn stocks in January

CardinalStone Securities Limited, Stanbic IBTC Stockbrokers Limited, APT Securities and Funds, Global Asset Management Limited, Cordros Securities Limited, and five other stockbroking firms traded equities valued at N341.630billion in January.

The other stockbroking firms that contributed in the record deal value or 56.13 percent of the total value of stocks traded on the NGX in the review month are: Meristem Stockbrokers Limited, Apel Asset Limited, Morgan Capital Securities Limited, EFG Hermes Nigeria Limited, and CSL Stockbrokers Limited.

Despite mixed trading sessions seen in the stock market at the beginning of this year, it still closed January in green by +1.53percent, while investors booked N1.95trillion as capital appreciation.

Investors were bullish and showed interests in value stocks across telecoms, banking, industrial good, consumer goods, agricultural, oil & gas, conglomerates, insurance, services, natural resources/utilities, ICT, healthcare, and construction/real estate. Cardinalstone Securities Limited led others with stock deals worth N89.317billion or 14.67 percent of the total value of stocks traded on the NGX in January.

It was followed by Stanbic IBTC Stockbrokers Limited which traded stocks valued at N46.177billion or 7.59 percent of the total value traded on the Nigerian Exchange Limited (NGX) in the review month.

Read also: These stocks made NGX to gain N1.95trn in January  

APT Securities and Funds traded stocks worth N44.440billion or 7.30 percent of the total value traded on the Bourse. Also in January, Global Asset Management Nigeria Limited traded stock value at N39.937billion or 6.56 percent.

Further look at the NGX broker performance report shows that Cordros Securities Limited traded stocks valued at N31.792billion or 5.22 percent, Meristem Stockbrokers Limited (N31.717billion or 5.21 percent), Apel Asset Limited (N16.884billion or 2.77 percent), Morgan Capital Securities Limited (N14.826billion or 2.44 percent), EFG Hermes Nigeria Limited (N14.451billion or 2.37 percent), and CSL Stockbrokers Limited (N12.085billion or 1.99 percent).

The report also showed top ten stockbroker by volume of stocks they traded in January. Cumulatively, the top ten stockbroking firms by volume of stocks traded 15.466billion shares, representing 52.01 percent of the total stocks traded on the NGX in January.

They are: Global Asset Management Nigeria Limited (3.987billion units or 13.41 percent), Cardinalstone Securities Limited (2.341billion units or 7.88 percent), Morgan Capital Securities Limited (1.802billion units or 6.06 percent), Meristem Stockbrokers Limited (1.685billion units or 5.67 percent), and APT Securities and Funds (1.363billion units or 4.59 percent).

Others are: Securities & Capital Management Company Limited (1.207billion units or 4.06 percent), Stanbic IBTC Stockbrokers Limited (1.060billion units or 3.57 percent), GTI Securities Limited (900.499million units or 3.03 percent), United Capital Securities Limited (625.195million units or 2.10 percent), and Anchoria Investment and Securities Limited (491.823million units or 1.65 percent).