Nigeria’s top 10 stockbroking firms trade N579.5 billion worth of stocks in 4 months

Ten brokerage firms facilitated transactions valued at N579.5 billion on the Nigerian Exchange (NGX) in the four months to April, according to the broker performance report obtained from the bourse.

That translates to 64.3 per cent of the cumulative trade executed on the exchange January through April.

Apt Securities & Funds, CardinalStone Securities and Meristem Stockbrokers led the pack within the period during which the market capitalisation of the NGX appreciated by 16.2 per cent or N4.93 trillion.

In volume terms, the top ten brokerage forms conducted transactions totalling 39.8 billion shares between them, accounting for 57.8 per cent of the entire trade executed on the exchange in that period.

CardinalStone Securities, Chapel Hill Denham and Apt Securities & Funds led the category.

The main stock index, which opened the year at 42,716.4 basis points had climbed to 49,638.8 at the end of April.

Top ten stockbrokers by value

· Apt Securities & Funds topped the ranking, transacting N143.8 billion worth of shares, which accounted for 20.3 per cent of total value.

· CardinalStone traded shares valued at N88 billion, representing 9.8 per cent of total transaction value.

· Meristem Stockbrokers conducted trade estimated at N76.7 billion, equivalent to 8.5 per cent of the entire transaction value.

· Stanbic IBTC Stockbrokers facilitated transactions worth N73.8 billion translating to 8.2 per cent of total trade value.

· EFG Hermes transacted shares valued at N50.4 billion, accounting for 5.6 per cent of total value.

· Chapel Hill Denham Securities conducted trade worth N40 billion equivalent to 4.4 per cent of total transaction.

· Cordros Securities facilitated deals valued at N36.7 billion representing 4.1 per cent of the entire transaction value.

· Rencap Securities transacted shares worth N27.8 billion translating to 3.1 per cent of total transaction value.

· CSL Stockbrokers conducted trade estimated at N26.3 billion equivalent to 2.9 per cent of total trade value.

· Morgan Capital Securities executed deals valued at N16 billion representing 1.8 per cent of the entire transaction value.

Top ten stockbrokers by volume

· CardinalStone Securities topped the ranking, transacting 14 billion shares equivalent to 20.3 per cent of the entire trade volume.

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· Chapel Hill Denham Securities traded 7 billion units accounting for 10.2 per cent of the whole trade.

· Apt Securities & Funds transacted 4.4 billion shares, representing 6.3 per cent of total trade volume.

· Morgan Capital Securities traded 3.6 billion units, translating to 5.3 per cent of the entire trade volume.

· Cordros Securities transacted 2.3 billion shares, accounting for 3.3 per cent of the whole trade volume.

· Meristem Stockbrokers traded 2.2 billion units, representing 3.2 per cent of total transaction size.

· Stanbic IBTC Stockbrokers transacted 1.9 billion shares, translating to 2.8 per cent of the entire trade volume.

· CSL Stockbrokers traded 1.7 billion units, equivalent to 2.5 per cent of total trade volume.

· EFG Hermes transacted 1.4 billion shares, accounting for 2 per cent of total transaction size.

· United Capital Securities traded 1.4 billion units, representing 2 per cent of trade volume.