THE top ten stockbroking firms in the Nigerian stock market traded in stocks worth N77.54 billion in the month of August 2022, accounting for 61.81 per cent of the total deals brokered in the month.
According to data from the Broker Performance Report, released by the Nigerian Exchange Group (NGX), a total of 9.36 billion shares were traded on the floor of the exchange worth N125.45 billion in August 2022, representing 19.5 per cent and 21.1 per cent increase when compared to the 7.84 billion shares traded at N103.63 billion in the previous month respectively.
Cordros Securities, Stanbic IBTC, and Cardinalstone Securities led the list of firms with the highest value of traded shares, jointly accounting for 31.96 per cent of the total trades recorded. Cordros Securities Limited traded the most value of shares in the month of August, accounting for 11.66 per cent of the entire exchange. The firm traded shares worth over N14.62 billion in the review period. Stanbic IBTC Stockbrokers followed closely with a total value of N14.01 billion worth of stocks traded, representing 11.17 per cent of the exchange’s total. Cardinalstone Securities Limited brokered the trade of shares valued at N11.45 billion, accounting for 9.13 per centn of the exchange’s total value. EFG Hermes Nigeria Limited recorded trades worth N10.28 billion, a significant increase on July’s N6.16 billion figure. The company accounted for 8.19 per cent of August’s dealings on the exchange. FBN Quest Securities Limited traded N7.01 billion worth of stock, representing 5.59 per cent of the exchange’s total, despite seeing a 39.7 per cent decline from July. Others on the list include CSL Stockbrokers with N6.44 billion; Meristem Stockbrokers, N4.59 billion; Newdevco Finance Service, N4.05 billion; Security Swaps, N2.66 billion; and Apel Asset with trades worth N2.43 billion. The top ten stockbrokers traded 4.96 billion units of shares in August 2022, representing 53 per cent of the total shares traded on the Nigerian Stock Exchange in the review month. In volume terms, Cordros Securities Limited was the most active firm in August, trading 1.1 billion shares, representing 11.74 per cent of the total traded on the exchange. This activity was a sharp uptick from July, as the company was not in the top ten in that time period. Cardinalstone Securities Limited followed with 872.9 million shares traded, which accounted for 9.33 per cent of the market total in the month under review. Meristem Stockbrokers Limited traded 582.2 million shares in August, 6.22 per cent of the exchange’s total for the month. Stanbic IBTC Limited brokered the trade of 512.6 million shares, representing 5.48 per cent of the total shares traded in the review month. Morgan Capital Securities Limited rounds out the top five, trading in 417.9 million units of shares in August, 4.46 per cent of the exchange’s total.
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