Stanbic, Cardinalstone, 8 others trade 55% of equities in NGX

Stanbic IBTC Stockbrokers Limited, Cardinalstone Securities Limited, United Capital Securities Limited, and APT Securities and Funds traded N2.53 trillion worth of equities in 10 months of 2024, representing 55.08 percent of the total stocks value exchanged on the Nigerian bourse within the same period.

The list of firms who carried out the transactions also includes: Cordros Securities Limited, EFG Hermes Nigeria Limited, Meristem Stockbrokers Limited, CSL Stockbrokers Limited, FBN Quest Securities Limited, and Chapel Hill Denham Securities Limited.

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The value of stocks traded in 10 months to October 2024 represents a year-on-year (YoY) increase of N919 billion or 57 percent from N1.609 trillion recorded in 10 months to October 2023.

According to the NGX Broker Performance Report, Stanbic IBTC Stockbrokers Limited led the chart in terms of deals’ value, accounting for N577.808 billion, representing 12.59 percent of the total.

It was followed by Cardinalstone Securities Limited, which traded stocks worth N519.841 billion or 11.33 percent, and United Capital Securities Limited, which accounted for stock deals worth N306.947billion or 6.69 percent of the total.

Others were: APT Securities and Funds (N219.764 billion or 4.79 percent); Cordros Securities Limited (N208.015 billion or 4.53 percent); EFG Hermes Nigeria Limited (N164.461 billion or 3.58 percent); and Meristem Stockbrokers Limited (N149.744 billion or 3.26 percent).

Also, CSL Stockbrokers Limited transacted deals valued at N130.561billion or 2.84 percent; FBN Quest Securities Limited (N129.725billion or 2.83 percent); and Chapel Hill Denham Securities Limited (N121.345billion or 2.64percent).

In terms of volume of stocks traded on the Nigerian bourse, the top 10 stockbroking firms accounted for 95 billion units or 41.83 percent of the total number of stocks exchanged over the period.

Cardinalstone Securities Limited exchanged 19.314 billion units or 8.51 percent, while Stanbic IBTC Stockbrokers Limited transacted 13.028billion units or 5.74 percent of the total.

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Others were: Morgan Capital Securities Limited (11.772 billion units or 5.19 percent), APT Securities and Funds (9.144 billion units or 4.03 percent), Greenwich Trust Limited (8.612 billion units or 3.79 percent) and Meristem Stockbrokers Limited (8.037 billion units or 3.54 percent).

FBN Quest Securities Limited transacted 6.845 billion units or 3.02 percent, while United Capital Securities Limited (6.783billion units or 2.99 percent), GTI Securities Limited (5.806billion units or 2.56 percent), and Cordros Securities Limited (5.611billion units or 2.47 percent) also came tops.

The Nigerian equities market’s return stood at +30.60 percent at the close of trading on October 31 as against +31.81 percent recorded in the preceding month-end.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and market capitalisation opened the review month at 98,558.79 points and N56.635 trillion respectively but closed at 97,651.23 points and N59.171 trillion. New listings in the month of October pushed the equities market’s value higher by N2.53 trillion.