Stockbrokers trade 7.4bn shares worth N84bn in September -

Nigeria’s securities dealers brokered 7.4billion shares worth N83.78billion in September, the monthly trading data obtained from the Nigerian Exchange Limited (NGX) showed.

This is just as the market capitalisation closed at N26.45trillion at the end of the review period, with the NGX All-Share Index (ASI) appreciating by 14.77 percent year-to-date (YtD) from 42,716.44 basis points to 49,024.16 basis points.

Investors were bullish on the telecoms and banking sectors as MTN Nigeria Plc (MTNN), Guaranty Trust Holding Company Plc (GTCO) and Zenith Bank Plc (ZENITH) saw the highest trading volumes for the month.

Trading license holders exchanged 7.3 billion shares of MTN making it the top traded stock of the month, followed by 6.7 billion shares of GTCO while ZENITH came in third with 6.2 billion units of its shares traded in September.

The top 10 brokers by volume were Parthian Securities Limited (PSLC); Cardinal Stone Securities Limited (CSSL); Equity Capital Solutions Limited (EQTL); Stanbic IBTC Stockbrokers Limited (SISB); CSL Stockbrokers Limited (CSLS); Morgan Capital Securities Limited (MCSE); United Capital Securities Limited (MCSE); EFG Hermes Nigeria Limited (UBAS); APT Securities and Funds –BRD (APT); and Meristem Stockbrokers Limited (MERI). The top 10 brokers by volume did 51.93percent of the total volume traded in September. This amounted to 3.85 billion shares at the end of trading on 30 September.

By value, the top 10 brokers were Stanbic IBTC Stockbrokers Limited (SISB); CSL Stockbrokers Limited (CSLS); Cardinal Stone Securities Limited (CSSL); EFG Hermes Nigeria Limited (UBAS); Investment One Stockbrokers Intl Ltd-BRD (I0NE); WSTC Securities Limited; Meristem Stockbrokers Limited (MERI); United Capital Securities Limited (UBAS); Quantum Zenith Securities and Investment Limited; FBN Quest Securities Limited (FBNS). The top 10 brokers by value did 56.3percent of the total value of shares brokered in September. These represented N47.22bn as trading closed on the floor of NGX for the month.

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By Iheanyi Nwachukwu • October 5, 2022

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.