THE top ten brokerage firms in the Nigerian stock market traded shares worth N77.54 billion in the month of August 2022, accounting for 61.81% of the total trades traded during the month.
According to data from the Broker Performance Report, published by the Nigerian Exchange Group (NGX), a total of 9.36 billion shares were traded on the trading floor worth 125.45 billion. naira in August 2022, i.e. 19.5% and 21.1%. increase from 7.84 billion shares traded at 103.63 billion naira the previous month respectively.
Cordros Securities, Stanbic IBTC and Cardinalstone Securities topped the list of companies with the highest value of shares traded, together accounting for 31.96% of total trades recorded. Cordros Securities Limited traded the highest value in shares in August, accounting for 11.66% of the entire trade. The company traded shares worth over N14.62 billion during the reporting period. Stanbic IBTC Stockbrokers followed closely with a total value of N14.01 billion of shares traded, or 11.17% of the total exchange. Cardinalstone Securities Limited brokered the trade in shares worth N11.45 billion, representing 9.13% of the total trade value. EFG Hermes Nigeria Limited recorded transactions worth N10.28 billion, a significant increase from July’s figure of N6.16 billion. The company accounted for 8.19% of August trades on the exchange. FBN Quest Securities Limited traded for N7.01 billion worth of shares, or 5.59% of the stock exchange’s total, despite falling 39.7% 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 deals worth N2.43 billion. 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 reporting month. In terms of volume, Cordros Securities Limited was the most active company in August, trading 1.1 billion shares, or 11.74% of the total traded on the exchange. This business saw a sharp uptick from July as the company was not in the top ten during this period. Cardinalstone Securities Limited followed with 872.9 million shares traded, which represented 9.33% of the market total in the month under review. Meristem Stockbrokers Limited traded 582.2 million shares in August, or 6.22% of the market’s total for the month. Stanbic IBTC Limited traded 512.6 million shares, or 5.48% of total shares traded during the reporting month. Morgan Capital Securities Limited rounds out the top five, trading 417.9 million units of shares in August, or 4.46% of the stock market’s total.
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