Stanbic, CardinalStone, United Capital, seven others trade N2.247trn stocks in 9 months

Nigeria’s listed equities worth N2.247 trillion were traded by ten stockbroking firms in nine months to September 30. These ten stockbroking firms are Stanbic IBTC Stockbrokers Limited, Cardinalstone Securities 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, Chapel Hill Denham Securities Limited.

The value of stocks traded by these stockbroking firms according to NGX Broker Performance report represents 55 percent of the total value of equities traded on the Nigerian Exchange Limited (NGX) in the review nine months period.

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The report showed that Stanbic IBTC Stockbrokers Limited accounted for deals worth N545.504billion, which represents 13.35 percent of the total value of trade in the review nine months period.

Likewise, Cardinalstone Securities Limited traded equities worth N416.551billion, representing 10.19 percent, while United Capital Securities Limited accounted for stocks deal worth N294.015billion or 7.19 percent.

Also, in the review nine months to September 30, APT Securities and Funds traded equities worth N204.618billion, representing 5.01 percent, while EFG Hermes Nigeria Limited accounted for equities deals worth N159.802billion, representing 3.91 percent of the total value of trade on the NGX in nine months.

Other stockbroking firms that accounted for remarkable value of trade in same period are: Cordros Securities Limited (N148.414billion or 3.63 percent), Meristem Stockbrokers Limited (N129.851billion or 3.18 percent), CSL Stockbrokers Limited (N122.750billion or 3 percent), FBN Quest Securities Limited (N116.527billion or 2.85 percent), and Chapel Hill Denham Securities Limited (N109.611billion or 2.68 percent).

The report also shows top-ten stockbrokers in terms of quantity of stocks traded in nine months to September. They are Cardinalstone Securities Limited which traded 17.743billion shares, representing 8.52 percent of the total volume of stocks traded on the NGX.

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Others are: Stanbic IBTC Stockbrokers Limited (11.832billion units or 5.68percent), Morgan Capital Securities Limited (10.891 billion units or 5.23 percent), APT Securities and Funds (8.725billion units or 4.19 percent), Greenwich Trust Limited (7.459billion units or 3.58 percent), Meristem Stockbrokers Limited (7.217 billion units or 3.47 percent), FBN Quest Securities Limited (6.731billion units or 3.23 percent), United Capital Securities Limited (6.219billion units or 2.99 percent), Cordros Securities Limited (5.226billion units or 2.51 percent), and CSL Stockbrokers Limited (4.927billion units or 2.37 percent).