Friday, March 29, 2024

Cardinalstone Securities, Stanbic IBTC Stockbrokers, eight others seal N1.47trn deals on NGX

BY BAMIDELE FAMOOFO

10 Leading stockbroking firms operating in the Nigerian capital market crossed deals worth N1.47 trillion on the Nigerian Exchange Limited in 11 months ended November 30, 2022.

The firms accounted for 66.72 percent of the total transaction value registered between January 1, 2022 and the last day of November, 2022.

The big ticket stockbroking firms sold about 123.45 billion shares which represents 64.38 percent of the total shares traded on the NGX in 11 months.

Leading the pack on all fronts was Cardinalstone Securities Limited which accounted for the largest volume of shares and value traded in the review period.

The firm was responsible for 39.34 percent (75.44 billion) of the total volume of shares traded by the top 10 firms in the review period. On the value chart, Cardinal Stone Securities also accounted for 25.22 percent of trade value representing about N533.77 billion. Stanbic IBTC Stockbrokers Limited was second on the value chart with about N174.68 billion representing 7.96 percent of trade value while APT Securities and Funds-BRD followed with about N166.43 billion, accounting for 7.58 percent of turnover value.

Meristem Stockbrokers Limited and EFG Hermes Nigeria Limited occupied the fourth and fifth positions on the value chart with about N113.09 billion and N109.96 billion, accounting for 5.15 percent and 5.01 percent of trade value respectively.

Other firms on the top 10 value cadre are Cordros Securities Limited-BRD, N92.82 billion or 4.23 percent; CSL Stockbrokers Limited, N83.01 billion or 3.78 percent; Chapel Hill Denham Securities Limited, N71.13 billion/3.24 percent. FBN Quest Securities Limited and Investment One Stockbrokers International Limited accounted for N60.81 billion and N39.41 billion respectively.

On the volume table, Chapel Hill Denham Securities Limited took the second place after CardinalStone Securities Limited with about 8.67 billion units, representing 4.52 percent of turnover volume.
Morgan Capital Securities Limited and APT Securities and Funds sold 6.94 billion and 6.67 billion units respectively.

CSL Stockbrokers Limited occupied the fifth position on the volume table with 5.84 billion shares representing 3.05 percent of total turnover volume.

Other firms on the top 10 league are: Stanbic IBTC Stockbrokers Limited, 4.87 billion; Cordros Securities Limited, 4.51 billion; Meristem Stockbrokers Limited, 4.48 billion; EFG Hermes Nigeria Limited, 3.22 billion and FBN Quest Securities Limited, 2.83 billion.

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