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% of the total deals brokered in the month. This is according to information obtained 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% and 21.1% increase when compared to the 7.84 billion shares traded at N103.63 billion in the previous month respectively.
The All-Share Index of the Nigerian Exchange declined by 1.06% to close the month at 49,836.51 basis points from 50,370.25 points recorded the previous month. Meanwhile, Cordros Securities, Stanbic IBTC, and Cardinalstone Securities led the list of firms with the highest value of traded shares, jointly accounting for 31.96% of the total trades recorded.
Stockbrokers by value
The top ten stockbrokers traded N77.64 billion worth of shares in August 2022, representing 61.81% of the total value of shares traded on the Nigerian Stock Exchange in that period
- Cordros Securities Limited traded the most value of shares in the month of August, accounting for 11.66% of the entire exchange. The firm traded shares worth over N14.62 billion in the review period. This reflects a very active month for the securities firm, which were not among July’s top ten.
- Stanbic IBTC Stockbrokers closely followed, with a total value of N14.01 billion worth of stocks traded, representing 11.17% of the exchange’s total.
- Cardinalstone Securities Limited brokered the trade of shares valued at N11.45 billion, accounting for 9.13% 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% of August’s dealings on the exchange.
- FBN Quest Securities Limited traded N7.01 billion worth of stock, representing 5.59% of the exchange’s total, despite seeing a 39.7% decline from July.
- Others on the list include CSL Stockbrokers (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.
Stockbrokers by volume
The top ten stockbrokers traded 4.96 billion units of shares in August 2022, representing 53% of the total shares traded on the Nigerian Stock Exchange in the review month.
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- Cordros Securities Limited was the most active firm in August, trading 1.1 billion shares, representing 11.74% 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% of the market total in the month under review.
- Meristem Stockbrokers Limited traded 582.2 million shares in August, 6.22% of the exchange’s total for the month.
- Stanbic IBTC Limited brokered the trade of 512.6 million shares, representing 5.48% 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% of the exchange’s total.
- Parthian Securities (N417.17 million), FBN Quest Securities (N329.04 million), Apt Securities (N275.4 million), EFG Hermes (N261.4 million), and CSL Stockbrokers (N193.1 million),