In the first eight months of the year, only ten stockbroking firms traded stocks worth N1.369 trillion or 56.38 percent of the total equities exchange on the Nigerian bourse.
In the period, equities market capitalisation garnered about N8.5 trillion. The stock market saw some profit-taking and bargain-hunting and reached a 15-year high last month.
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The monthly broker performance report from January 1 through August 31 shows that CardinalStone Securities Limited led the league, accounting for N315.560 billion or 12.99 per cent.
It was followed by APT Securities and Funds, which traded equities worth N197.868 billion in eight months, representing 8.15 per cent of the total value of equities traded, and Stanbic IBTC Stockbrokers Limited, with equities worth N171.188 billion or 7.05 per cent sold.
Meristem Stockbrokers Limited made the top 10 brokers list by the value of stocks traded, accounting for N133.097 billion worth of equities, representing 5.48 per cent.
United Capital Securities Limited accounted for N129.035 billion worth of equities transactions in the period, representing 5.31 per cent.
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It was followed by FBNQuest Securities Limited, which accounted for transactions worth N105.062 billion or 4.33 per cent; and EFG Hermes Nigeria Limited, which traded stocks worth N100.683 billion or 4.15 per cent of the total value of stocks traded on the Nigerian Exchange Limited in the period.
Cordros Securities Limited accounted for N92.423 billion or 3.81 per cent, while Regency Assets Management Limited traded equities worth N63.836 billion, representing 2.63 per cent of the total. Apel Asset Limited also made a list with stocks worth N60.608 billion or 2.50 per cent.
The pro-market posture of President Bola Tinubu’s’ administration had increased stock investors’ confidence and optimism in the stock market. Likewise, the broadly positive sentiment lingered in the Nigerian equities market since the start of May persisted through August.
In terms of volume of trades, ten stockbroking firms traded 105.611 billion shares in the eight months, representing 53.79 per cent of the total trade volume at the NGX.
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The broker report on the volume of trade shows United Capital Securities Limited got 28.477 billion units or 14.50 per cent); CardinalStone Securities Limited, 18.617 billion units or 9.48 per cent); Apel Asset Limited, 12.946 billion units or 6.59 per cent; APT Securities and Funds, 9.849 billion units or 5.02 per cent; Morgan Capital Securities Limited, 9.454 billion units or 4.82 per cent; and Meristem Stockbrokers Limited, 6.664 billion units or 3.39 per cent.
Stanbic IBTC Stockbrokers Limited traded 5.655 billion units or 2.88percent; Regency Assets Management Limited, 5.002 billion units or 2.55 per cent; EFG Hermes Nigeria Limited, 4.474 billion units or 2.28 per cent; and FBNQuest Securities Limited, 4.468 billion units or 2.28 per cent.
