These stock broking firms traded equities worth N2.53trn in 10 months

In 10 months of 2024, 10 stock broking firms in Nigeria exchanged equities worth N2.528trillion, which represents 55.08 percent of the total value of stocks exchange on the Nigerian Bourse in the same period.

The value of stocks traded in ten months to October 2024 represents a huge year-on-year (YoY) increase by N919billion or 57.12 percent from N1.609 trillion recorded in ten months to October 2023.

According to the NGX broker performance report, the top ten stockbrokers in terms of value of stock they traded on the NGX in ten months are: Stanbic IBTC Stockbrokers Limited, Cardinalstone Securities Limited, United Capital Securities Limited, APT Securities and Funds, Cordros Securities Limited, EFG Hermes Nigeria Limited, Meristem Stockbrokers Limited, CSL Stockbrokers Limited, FBN Quest Securities Limited, and Chapel Hill Denham Securities Limited.

The brokers, their deals value…

In the review ten months period, Stanbic IBTC Stockbrokers Limited lead the top ten league after accounting for stock deals worth N577.808 billion, representing 12.59 percent.

It was followed by Cardinalstone Securities Limited, which traded stocks worth N519.841billion or 11.33 percent, and United Capital Securities Limited which accounted for stocks deals worth N306.947billion or 6.69 percent.

Other top stockbroking firms and their ten months deal value are: APT Securities and Funds (N219.764billion or 4.79 percent); Cordros Securities Limited (N208.015billion or 4.53 percent); EFG Hermes Nigeria Limited (N164.461billion or 3.58 percent); and Meristem Stockbrokers Limited (N149.744billion or 3.26 percent).

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Also, CSL Stockbrokers Limited made the list of top-ten stockbroking firms in value of stocks, accounting for N130.561billion or 2.84 percent; FBN Quest Securities Limited (N129.725billion or 2.83 percent); and Chapel Hill Denham Securities Limited (N121.345billion or 2.64percent).

In terms of volume of stocks traded on the Nigerian Bourse, top 10 stockbroking firms accounted for 94.957billion units or 41.83 percent of the total number of stocks exchanged same ten months period to October.

These stockbroking firms and the volume of stocks they traded are: Cardinalstone Securities Limited (19.314billion units or 8.51 percent), Stanbic IBTC Stockbrokers Limited (13.028billion units or 5.74 percent), Morgan Capital Securities Limited (11.772billion units or 5.19 percent), APT Securities and Funds (9.144billion units or 4.03 percent), Greenwich Trust Limited (8.612billion units or 3.79 percent) and Meristem Stockbrokers Limited (8.037billion units or 3.54 percent).

Other top stockbroking firms in terms of volume of stocks they traded in the review ten months period are: FBN Quest Securities Limited (6.845billion units or 3.02 percent), United Capital Securities Limited (6.783billion units or 2.99 percent), GTI Securities Limited (5.806billion units or 2.56 percent), and Cordros Securities Limited (5.611billion units or 2.47 percent).

The Nigerian equities market’s return stood at +30.60 percent at the close of trading on October 31 as against +31.81 percent recorded the preceding month end.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation opened the review month at 98,558.79 points and N56.635 trillion respectively but closed at 97,651.23 points and N59.171 trillion. New listings in the month of October pushed the equities market’s value higher by N2.53 trillion.