CardinalStone, Stanbic, United Capital, others trade N1.72trn stocks in 7 months

Stocks worth N1.728 trillion were traded on the Nigerian Exchange Limited (NGX) for seven months to July 31, 2024.

This record value represents 55.61 percent of the total value of equities exchanged on the Nigerian Bourse in the review period.

The recently released Broker Performance Report of the NGX shows that CardinalStone Securities Limited led others with deals worth N319.183 billion or 10.27 percent of the total value traded.

It was followed by Stanbic IBTC Stockbrokers Limited with traded equities worth N305.100 billion in seven months to July, representing 9.82 percent of the total value of stocks traded on the Nigerian Exchange Limited.

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Another top stockbroking firm, United Capital Securities Limited followed after accounting for stock transactions worth N276.859 billion or 8.91 percent of the entire equities value traded in the seven-month period under review.

The report also shows that APT Securities and Funds traded equities worth N179.110billion or 5.76 percent, followed by EFG Hermes Nigeria Limited which traded stock worth N139.332billion or 4.48 percent of the total value of equities traded in same seven months period.

Others are Cordros Securities Limited (N113.361billion or 3.65 percent); Meristem Stockbrokers Limited (N104.907billion or 3.38 percent); CSL Stockbrokers Limited (N102.965billion or 3.31 percent); FBN Quest Securities Limited (N95.005billion or 3.06 percent); and Chapel Hill Denham Securities Limited (N92.516billion or 2.9 percent).