Stanbic, Cardinalstone, eight others trade N2.74trn shares in 11 months

In eleven months to November 2024, top ten stockbroking firms led by Stanbic IBTC Stockbrokers Limited, Cardinalstone Securities Limited and United Capital Securities Limited traded stocks worth N2.736trillion.

This record value of traded equities by ten stockbroking firms represents 54.37 percent of the total value of stocks traded on the Nigerian Exchange Limited (NGX) in the review eleven months period.

In the same period, ten stockbroking firms traded 109.056billion units representing 42.77 percent of the total volume of stocks traded same period on the NGX.

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Detailed look at top ten brokers by value of stocks as contained in the recent Broker Performance Report shows Stanbic IBTC Stockbrokers Limited traded stock worth N594.782billion or 11.82 percent of the total value traded.

Cardinalstone Securities Limited (N574.968billion or 11.42 percent), and United Capital Securities Limited (N312.875 billion or 6.22 percent).

Other top broking firms in terms of value of stocks they traded in the review eleven months are: APT Securities and Funds which traded equities worth N258.387billion or 5.13 percent; Cordros Securities Limited (N236.863billion or 4.71 percent); EFG Hermes Nigeria Limited N174.529billion or 3.47 percent), and Meristem Stockbrokers Limited (N169.622billion or 3.37 percent).

FBN Quest Securities Limited, which also made the top-ten league traded N141.725billion worth of stocks, representing 2.82 percent of the total value of equities traded same period on the NGX, CSL Stockbrokers Limited (N138.710billion or 2.76 percent), and Chapel Hill Denham Securities Limited (N134.048billion or 2.66 percent).

Further look at stockbrokers by volume of stocks they traded shows that Cardinalstone Securities Limited traded 22.097 billion units or 8.67 percent, Stanbic IBTC Stockbrokers Limited (13.543 billion units or 5.31 percent), Morgan Capital Securities Limited (12.690 billion units or 4.98 percent), and Cordros Securities Limited (11.126 billion units or 4.36 percent).

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Others are: APT Securities and Funds which traded 10.663billion units or 4.18 percent, Meristem Stockbrokers Limited (8.874billion units or 3.48 percent) Greenwich Trust Limited (8.728billion or 3.42percent), FBN Quest Securities Limited (7.260 billion units or 2.85 percent), United Capital Securities Limited (7.073 billion units or 2.77 percent), and GTI Securities Limited (7 billion units or 2.75 percent).