Cordros Securities, Cardinalstone Securities and Stanbic IBTC Stockbrokers emerged as the top three stockbrokers with the most equity transactions by value in the week that ended March 3, 2023.
According to the Nigerian Exchange Group’s weekly Top Ten Brokers’ performance chart for February 27 2023 to March 3, 2023, Cordors Securities executed N6.55 billion worth of equities, representing 17.73 percent of the total equity transactions in the nation’s capital market.
Cardinalstone Securities traded N4.89 billion worth of equities, which amounted to 13.23 percent of the total market transactions. Stanbic IBTC traded N3.45 billion worth of equities, representing 9.36 percent of the total market transactions. The three aforementioned stockbrokers accounted for 40.32 percent of the total market transactions.
EFG Hermes traded N2.47 billion worth of equities, followed by Meristem Securities, N1.89 billion; FBN Quest Securities, N1.14 billion; APT Securities, N1.08 billion; Morgan Capital Securities, N898.37 million; APEL Asset, N800.93 million, and Readings Investments, N765.77 million.
Altogether, the top ten stockbrokers in the week that just ended accounted for 64.82 percent of the total market value and 72.26 percent of the market volume.
Overall, investors traded 1.91 billion shares during the week that ended March 3, 2023 valued at N18.43 billion in 20,311 deals compared with 799.84 million shares traded in the previous week worth N29.354 billion exchanged in 14,194 deals.
The ICT sub sector was the most traded by volume, in view of the 601.39 million shares traded by investors worth N2.67 billion in 1,607 deals, and thus accounted for 31.49 percent of market volume and 14.52 percent of the market value.
The financial services sub sector followed with the trading of 585.51 million shares valued at N6.694 billion exchanged in 8,584 deals. It was followed by the services industry with a turnover of 349.21 million shares worth 2.402 billion executed in 512 deals.
Also, exchange traded products (ETP) amounting to 30,547 units valued at N7.299 billion shares were traded by market players in 50 deals last week as against 5,760 units worth N1.16 million shares traded in the previous week in 40 deals.
Investors equally traded 39,151 units of bonds valued at N37.06 million in 17 deals in contrast to 54,323 units valued at N54.379 million in 9 deals in the previous week.
Despite the appreciation that greeted the announcement of the presidential results, the All-Share Index (ASI)of the Nigerian Exchange Group (NGX) appreciated by 1.06 percent last week to close at 55,529,21 points. Market capitalization closed at N30.250 trillion.
Year to date return of ASI is 8.35 percent. Meanwhile, nine sub-sectoral indices continued to maintain their double digits returns year to date. NGX Growth Index tops the return chat with 49.81 percent return year to date. We also have NGX Consumer Index, 18.09 percent; NGX Oil/Gas Index, 17.20 percent; NGX AFR Bank Value Index, 13.53 percent, and NGX AFR Div Yield Index, 11.93 percent.
Others are NGX Banking Index, 10.69 percent; NGX Corporate Governance Index, 10.58 percent, and NGX Premium Index, 10.21 percent year to date return.