CardinalStone, Stanbic, United Capital deals surpass others in 8 months

…as top 10 brokers trade N1.87trn stocks

Equities worth N1.877 trillion were traded by only ten stockbroking firms in eight months to August 2024, according to the recently released Broker Performance Report of the Nigerian Exchange Limited (NGX).

These stockbroking firms are Cardinalstone Securities Limited, Stanbic IBTC Stockbrokers Limited, United Capital Securities Limited, APT Securities and Funds, EFG Hermes Nigeria Limited, Cordros Securities Limited, Meristem Stockbrokers Limited, CSL Stockbrokers Limited, FBN Quest Securities Limited, and Chapel Hill Denham Securities Limited.

These top 10 stockbrokers were responsible for 53.83 percent of the total value of equities traded between January 1, 2024, and August 30, 2024. Cardinalstone Securities Limited led the top 10 leagues after trading stocks worth N359.184 billion or 10.30 percent of the total value traded on the Bourse in the review period.

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It was followed by Stanbic IBTC Stockbrokers Limited which traded N320.223 billion worth of equities, representing 9.18 percent of the total, while United Capital Securities Limited traded stocks worth N282.553billion in eight months, representing 8.10 percent of the total value traded same period on the Lagos Bourse.

Also, APT Securities and Funds traded stocks worth N188.161 billion or 5.39 percent of the total value traded; while EFG Hermes Nigeria Limited accounted for equities trade worth N150 billion in eight months, representing 4.30 percent.

Others are Cordros Securities Limited (N126.682billion or 3.63 percent), Meristem Stockbrokers Limited (N120.270billion or 3.45 percent), CSL Stockbrokers Limited (N117.701billion or 3.37 percent), FBN Quest Securities Limited (N108.524billion or 3.11 percent), and Chapel Hill Denham Securities Limited (N104.548billion or 3percent).