• Monday, April 22, 2024
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Top 10 brokers on NGX trade N57bn worth of shares

Top 10 brokers on NGX trade N57bn worth of shares

Cardinal Stone Securities Limited, Stanbic IBTC Stockbrokers Limited, and eight other brokers on the Nigerian Exchange traded about N57.69billiin worth of shares last week.

According to NGX, the top 10 stockbrokers were responsible for 58.92 percent of the total value of stocks traded.

The market witnessed elevated sell-side pressure in the review trading week, recording three sessions of negative closes against two days of positives.

Investors sold mostly consumer goods stocks despite increased buy sentiments in favour of banking and insurance stocks.

The following are the top 10 stockbrokers last week:

Cardinalstone Securities (CSSL)

CSSL cornered 12.76 percent of the traded value at N12.48bn. It traded a total of 467.02 thousand units of stocks which amounted to 13.38 percent of the total trade of the week.

CSSL is a securities trading subsidiary of CardinalStone Partners Limited that offers a bouquet of investment services to its clients.

It is a full-fledged dealing member of the NGX and registered with the Nigerian Securities and Exchange Commission (SEC) as a broker/dealer. They are also registered with the FMDQ OTC Securities Exchange as a dealing member and the NASD OTC Securities Exchange as a participating institution.

Stanbic IBTC Stockbrokers Limited

Stanbic IBTC Stockbrokers Limited raked in N9.50bn worth of shares during trades last week this was 9.70 percent of the total value traded. It traded over 233.63 million units which was 6.69 percent of the total volume traded.

Stanbic IBTC Stockbrokers is the wholly owned stockbroking subsidiary of Stanbic IBTC Holdings PLC. The company is duly registered by the Securities and Exchange Commission (SEC) and was licensed on 24 June 1987 by the Nigerian Exchange Limited to deal with securities on the floor of the Exchange.

United Capital Securities Limited

Last week, United Capital Securities Limited recorded N9.29 billion worth of transactions, which is about 9.49 percent of the total traded value of the NGX. It traded over 100.72 million units, 2.88 percent of the volume traded.

EFGH Hermes Nigeria Limited

This stockbroker traded N5.22 billion worth of shares amounting to 5.33 percent of the total value traded at the bourse last week. It sold over 133.06 million units last week.

CSL Stockbrokers

CSL Stockbrokers traded N5.03 billion worth of shares amounting to 5.33 percent of the total value traded at the bourse last week, selling over 141.1 million units last week.

Anchoria Investment and Securities

Anchoria Investment and Securities traded N4.24 billion worth of shares amounting to 4.33 percent of the total value traded at the bourse last week, selling over 101.8 million units last week.

ABSA Securities Nigeria

ABSA Securities traded N3.81 billion worth of shares amounting to 3.89 percent of the total value traded at the bourse last week, selling over 101.8 million units last week.

Meristem Stockbrokers Limited

Meristem Securities traded N2.72 billion worth of shares amounting to 2.79 percent of the total value traded at the bourse last week, selling over 138.68 million units last week.

Readings Investment Limited

Readings Investment Limited traded N2.71 billion worth of shares amounting to 2.77 percent of the total value traded at the bourse last week, selling over 94.90 million units last week.

Cordros Securities

Cordros Securities traded N2.66 billion worth of shares amounting to 2.72 percent of the total value traded at the bourse last week.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased week-on-week (WoW) from preceding week’s highs of 105,085.25 points and N59.416trillion respectively to 104,647.37 points and N59.168 trillion.