Equity transactions on the Nigerian Exchange Group (NGX) rose by 503 percent on a year-on-year basis to N820.44 billion at the end of the first quarter of 2024 as against N136.15 billion as of the end of the first quarter of 2023, analysis of equity transactions from the NGX has revealed.
CardinalStone Securities led the activity chart as it traded N153.77 billion worth of transactions during the first quarter of 2024, representing 9.91 percent of the total transactions on the NGX. On the volume chart, CardinalStone Securities traded 6.06 billion units of shares, representing 8.45 percent of the total shares traded in the first quarter of this year.
United Capital Securities traded N118.07 billion worth of equities or 7.61 percent of the total equities traded in the first quarter of this year. On the volume chart, United Capital traded 2.82 billion shares representing 3.93 percent of the total market volume.
Stanbic IBTC traded N113.7 billion worth of equities, making it the third most patronised investment house by value. Its total first quarter trade by value amounted to 7.32 percent of the total market value. On the volume chart, Stanbic IBTC traded 2.85 billion units of shares during the quarter.
APT Securities and Funds traded N105.8 billion worth of equities in the first three months of this year. On the volume chart, APT traded 3.38 billion worth of equities representing 4.71 percent of the market volume in the first quarter of 2024.
EFG Hermes emerged during the first quarter of 2024 as the fourth most patronised investment house by value. The firm traded N66.91 billion worth of equities and 1.66 billion shares during the period.
Meristem Securities traded N65.35 billion worth of equities on the value chart and N3.36 billion shares during the first quarter of 2024.
Cordros Securities traded N62.95 billion worth of transactions and 1.45 billion shares in the first quarter of 2024. APEL Assets executed N46.40 billion transactions and 1.45 billion shares on the volume chart in the first quarter of this year.
Morgan Capital Securities traded N45.65 billion worth of equities and 5.53 billion shares representing 2.94 percent and 7.70 percent of the market value and volume during the first quarter of 2024.
CSL Stockbrokers traded N41.92 billion worth of equities, amounting to 2.7 percent of the market value within the first quarter.
Nigeria’s capital market has been one of the best performing markets in the last three months, with year-to-date return at 31 percent.
