United Capital, CardinalStone, Stanbic, 7 others trade N309.9bn stocks in Q1

In the first quarter (Q1) ended March, 2024 only ten Nigerian stockbroking firms traded equities worth N309.9billion which represents 57.43 percent of the total value of stocks traded on the Bourse in the review period.

United Capital Securities Limited led the league, accounting for equities deals worth N80.355billion or 14.89percent. It was followed by Cardinalstone Securities Limited which traded stocks worth N49.908billion or 9.25percent.

Also, according to recently released broker performance report, Stanbic IBTC Stockbrokers Limited accounted for equities deals worth N46.295billion or 8.58percent, while EFG Hermes Nigeria Limited traded N24.064billion worth equities or 4.46percent of the total value of stocks traded on the NGX in same Q1 period.

Other top stockbroking firms in terms of value of transaction include: Meristem Stockbrokers Limited (N20.621billion or 3.82percent), CSL Stockbrokers Limited (N20.220billion or 3.75percent), and Cordros Securities Limited (N18.909billion or 3.50percent).

Also on the top-ten list of brokers in terms of value of transactions in Q1 are: Chapel Hill Denham Securities Limited (N18.210billion or 3.37percent), Apel Asset Limited (N17.103billion or 3.17 percent), and Readings Investments Limited (N14.286billion or 2.65percent).