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Stanbic, Cardinalstone, APT, seven others trade N1.42trn stocks in 6 months

NGX launches Impact Board for sustainable instruments

In half year (H1) to June 2024, equities worth N1.422trillion were traded on the Nigerian Exchange Limited (NGX) by only ten stockbroking firms led by Stanbic IBTC Stockbrokers Limited, Cardinalstone Securities Limited, and APT Securities and Funds.

The value of deals by these stockbroking firms and seven others in the half year in review represents 54.43 percent of the total value of stocks traded on the Nigerian Bourse in the review six months period.

Other stockbroking firms on the list are: United Capital Securities Limited, EFG Hermes Nigeria Limited, Cordros Securities Limited, Meristem Stockbrokers Limited, CSL Stockbrokers Limited, Chapel Hill Denham Securities Limited, and Apel Asset Limited.

In the H1’2024 period, equities market’s return stood in the positive territory at +33.81 percent. The Nigerian Exchange Limited (NGX) All Share Index (ASI) had again crossed the 100,000 psychological points. The NGX ASI and Market Capitalisation closed the H1’2024 period at 100,057.49 points and N56.601trillion respectively.

The broker performance report of the Nigerian Exchange shows that from January to June 2024, Stanbic IBTC Stockbrokers Limited traded equities worth N280.605billion, representing 10.73percent of the total value of stocks traded on the NGX in the review six months period.

Also, Cardinalstone Securities Limited accounted for stocks worth N275.673billion or 10.54 percent; while APT Securities and Funds traded N170.797billion worth of stocks in half year, representing 6.53 percent of the total value traded.

The report further shows that United Capital Securities Limited came fourth after trading equities worth N148.334billion or 5.67 percent of the total; while the EFG Hermes Nigeria Limited followed with equities deals worth N127.938billion or 4.89 percent of the total value traded in H1’24.

The sixth stockbroking firm on the list, Cordros Securities Limited traded equities worth N101.485billion or 3.88 percent; followed by Meristem Stockbrokers Limited which accounted for stock worth N88.852billion or 3.40 percent.

CSL Stockbrokers Limited, another firm that made the league of top-10 by value of deals traded in six months accounted for N82.069billion or 3.14 percent.

Likewise, Chapel Hill Denham Securities Limited traded stocks worth N75.921billion or 2.90 percent, while Apel Asset Limited made the list of top-10 brokers by value of transaction after trading stocks worth N71.274billion or 2.73 percent.