…transactions lower by 25% compared to Q1 2022

Nigerian Exchange Group’s top ten stockbroking firms executed the least transactions at the end of the first quarter of 2023 when compared to a similar period in 2021 and 2022. At the end of the first quarter of 2023, the top ten stockbroking firms traded N343.61 billion worth of equities, which represented 64.61 percent of the total transactions during the first three months of this year.

The level of trade at the end of the first quarter of this year by the top performing stockbroking firms, represented a 25.09 percent decline when compared to N458.72 billion worth of transactions recorded by the top ten stockbroking firms in Q1 2022.
In addition, the top ten stockbroking firms traded N357.48 billion at the end of the first quarter of 2021, which amounted to a decline of 3.88 percent when juxtaposed with the same period in 2023.

On a firm by firm analysis, APT Securities and Funds remained investors’ first port of call in the first three months of the year, a trend that first happened in 2022. APT executed N93.79 billion worth of equities which represented 17.64 percent of the total trades on the NGX from January to March 2023.

CardinalStone Securities traded N67.55 billion worth of stocks, representing 12.70 percent of the total trade on NGX within the period. Stanbic IBTC Stockbrokers was third on the chart with total transactions of N58.01 billion executed in the first quarter, representing 10.91 percent of the executed trade on the NGX from January to March 2023.

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The top three most active stockbroking firms, APT Securities, CardinalStone, and Stanbic IBTC accounted for 41.25 percent of the total transactions on the NGX at the end of the first quarter of this year.

EFG Hermes was fourth, having traded N26.5 billion worth of equities, representing 4.98 percent, and followed by Cordros Securities with recorded N23.59 billion worth of trade, amounting to 4.44 percent of the total transactions on NGX.

PAC Securities claimed N16.10 billion worth of trade, representing 3.03 percent, and was trailed by Meristem Securities with N15.48 billion worth of equities traded within the first three months of this year.

ChapelHill Denham Securities traded N15.44 billion worth of equities, amounting to 2.90 percent of the total transactions while FBNQuest Securities and APEL Asset Limited traded N14.77 billion and N12.33 billion worth of transactions, amounting to 2.78 percent and 2.32 percent of the total first quarter transactions respectively.

In 2022, APT Securities, Meristem Stockbrokers, and CardinalStone Securities traded N142.33 billion, N70.34 billion and N53.26 billion worth of equities, representing 20.49 percent, 10.13 percent, and 7.67 percent respectively. The three of them accounted for 38.29 percent of the total executed trade in the first quarter of 2022.