In the first 10 months of 2024, leading stockbroking firms on the Nigerian Exchange (NGX) including Stanbic IBTC Stockbrokers Limited, Cardinalstone Securities Limited, United Capital Securities Limited, and APT Securities and Funds collectively traded N2.53 trillion worth of equities.
This amount represents 55.08 percent of the total stock value exchanged on the NGX over the period, according to the NGX Broker Performance Report.
This year’s figure also marks a substantial year-on-year (YoY) increase of N919 billion, or 57 percent, from N1.609 trillion in the same period of 2023.
Stanbic IBTC Stockbrokers Limited led the market in terms of trade value, handling transactions worth N577.808 billion, or 12.59 percent of the total.
Cardinalstone Securities Limited followed with N519.841 billion, accounting for 11.33 percent, while United Capital Securities Limited managed N306.947 billion, making up 6.69 percent of the total.
Other key contributors included APT Securities and Funds (N219.764 billion or 4.79 percent), Cordros Securities Limited (N208.015 billion or 4.53 percent), and EFG Hermes Nigeria Limited (N164.461 billion or 3.58 percent).
Meristem Stockbrokers Limited traded stocks valued at N149.744 billion (3.26 percent), CSL Stockbrokers Limited at N130.561 billion (2.84 percent), FBN Quest Securities Limited at N129.725 billion (2.83 percent), and Chapel Hill Denham Securities Limited at N121.345 billion (2.64 percent).
In terms of volume, these top 10 firms exchanged approximately 95 billion units or 41.83 percent of the total stocks traded.
Cardinalstone Securities Limited topped the list with 19.314 billion units (8.51 percent), followed by Stanbic IBTC Stockbrokers Limited at 13.028 billion units (5.74 percent), and Morgan Capital Securities Limited with 11.772 billion units (5.19 percent).
Other high-volume players included APT Securities and Funds, Greenwich Trust Limited, and Meristem Stockbrokers Limited, each handling between 3.54 and 4.03 percent of the total units traded.
The Nigerian equities market closed in October with a return of +30.60 percent, slightly down from +31.81 percent at the end of September.
The NGX All-Share Index (ASI) and market capitalization opened October at 98,558.79 points and N56.635 trillion respectively, closing the month at 97,651.23 points and N59.171 trillion. Notably, new listings in October boosted the market’s value by N2.53 trillion.
