CardinalStone Securities, APT Securities and Stanbic IBTC Stockbrokers have emerged as the most patronised stockbroking firms on the Nigerian Exchange Group (NGX) from January to August 2023 as they recorded more transactions by value than other investment houses on the NGX.
CardinalStone Securities recorded the most trade by value as it traded N315.56 billion worth of equities in the first eight months of this year, representing 12.99 percent of the total transactions on the NGX. In terms of volume, CardinalStone Securities traded 18.62 billion units of shares representing 9.49 percent of the total trades on NGX.
APT Securities and Funds executed N197.67 billion worth of transactions from January to August 2023, amounting to 8.15 percent of the total transactions on the NGX. In terms of volume, 9.85 billion units of shares were traded by APT Securities, amounting to 5.02 percent of the total trade within the period.
Stanbic IBTC ranked third on the chart with a total trade of N171.19 billion during the period, representing 7.05 percent of the total transactions. The trade executed was equivalent to 5.66 billion units representing 2.88 percent of the volume of transactions recorded within the first eight months of this year.
APT Securities as well as Stanbic IBTC Stockbrokers have dominated the nation’s capital market transactions for some time through their bespoke services, in addition to the goodwill the two institutions have built for themselves in the nation’s capital market. CardinalStone, with its current performance, has joined the ranks of the leading stockbroking firms in the country.
Meristem Securities ranked fourth with N133.09 billion worth of shares traded in the first eight months of 2023, amounting to 5.48 percent of the total trade on the NGX within the period. In terms of volume, the stockbroking firm traded 6.66 billion units of shares representing 3.39 percent of the 8-month volume on NGX.
FBN Quest Securities traded 4.47 billion units of shares representing 2.28 percent of the total shares traded on the NGX. On the value chart, it traded N105.06 billion shares, which amounted to 4.33 percent.
The above-mentioned stockbroking firms were followed by EFG Hermes which traded N100.68 billion worth of equities; Cordros Securities, N92.42 billion worth of equities; Regency Assets Management, N63.66 billion, and APEL Assets which traded N60.61 billion worth of stocks in the first eight months of this year.
