NGX: Leading Stockbrokers execute N625bn deals in five months

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The total transactions on the local bourse have hit N2.35trn at the end of May, indicating a 115.40 per cent increase compared to the first five months of 2023.

BY BAMIDELE FAMOOFO

Leading deal brokers on the Nigerian Exchange Limited accounted for about 60 percent of total transaction value in the first five months of 2023.

In all, the top 10 stockbroking firms at the end of May 2023, traded shares worth over N625.01 billion.

In volume terms, over 67.23 billion units of shares, representing 63.21 percent of total volume traded on the Exchange were crossed in the review period.

APT Securities and Funds led on the value chart with about N128.74 billion, accounting for 12.29 percent of total value printed by the top 10 firms.

Cardinal Stone Securities Limited and Stanbic IBTC Stockbrokers Limited ranked second and third on the value list with N119.35 billion and N92.29 billion, accounting for 11.4 percent and 8.81 percent of gross value respectively.

United Capital Securities Limited and EFG Hermes Nigeria Limited are on the top five value list with N75.15 billion or 7.18 percent and N43.07 billion representing 4.11 percent respectively.

Other Stockbrokers that recorded giant strides in revenue generation in the review period include Meristem Stockbrokers Limited, N38.38 billion representing 3.67 percent; Cordros Securities Limited, N35.04 billion or 3.35 percent; Investment One Stockbrokers International Limited, N31.05 billion or 2.97 percent; Chapel Hill Denham Securities Limited, N31.00 billion or 2.96 percent and FBN Quest Securities Limited, N30.94 billion representing 2.95 percent.

United Capital Securities Limited however led on the volume chart with about 24.24 billion shares representing 22.79 percent of total volume.

Apel Asset Limited and Cardinalstone Securities Limited emerged second and third with 10.17 billion and 8.12 billion units or 9.56 percent and 7.63 percent respectively.

APT Securities and Funds and Morgan Capital Securities Limited emerged on the top five space with 7.22 billion and 3.59 billion accounting for 6.78 percent and 3.37 percent respectively.