Apt Securities, Meristem, and Stanbic IBTC Stockbrokers led the list of stockbroking firms in terms of the value of transactions in the month of January 2022, jointly accounting for 64.9% of the total value traded in the stock market in the review month.
This is according to the broker performance report, released by the Nigerian Exchange Group (NGX).
The top 10 performing brokers traded in share worth N268.86 billion in January 2022, representing a 149.6% and 138.3% increase compared to N107.73 billion and N112.84 billion recorded in December and January 2021 respectively.
In terms of volume of shares, the top 10 firms brokered the sales of 8.89 billion shares in the month under review, 37.8% lower than the 14.3 billion that was recorded in the corresponding period of 2020. However, it is 10.4% higher than the 8.1 billion shares brokered in the previous month.
Top stockbrokers by value
The top 10 performing stockbroking firms in January 2022 traded a total of N268.9 billion worth of shares, accounting for 83.01% of the total value of shares traded in the review month.
- APT Securities and Funds – BRD topped the list, having traded in stocks worth N134.91 billion which represents 41.65% of the entire value of shares traded on the floor of the exchange January.
- Meristem Stockbrokers Limited followed with a total value of N55.95 billion traded stocks, accounting for 17.27% of the total shares traded at the exchange.
- Stanbic IBTC Stockbrokers Limited traded stocks worth N19.45 billion. This represent 6.01% of the entire shares traded at the exchange.
- Cardinalstone Securities Limited was fourth on the list, having traded in stocks worth N15.84 billion, accounting for 4.89% of the total shares traded on the floor of the exchange.
- EFG Hermes Nigeria Limited traded in stocks worth N10.86 billion representing 3.35% of the entire value of shares traded at the exchange.
- Others on the list include Vetiva Capital Management Limited with N9.19 billion, Rencap Securities Nigeria Limited (N8.8 billion), CSL Stockbrokers (N5.49 billion), Chapel Hill Denham Securities (N4.67 billion), and Morgan Capital Securities with N3.67 billion.
Top stockbrokers by volume
The top performing stockbrokers by volume, traded in 8.89 billion units of shares in the month of January, representing 60.32% of the total shares traded in the stock market in the review period.
- APT Securities and Funds – BRD tops the list with 3.98 billion unit of shares, which represents 22.38% of the total volume traded in the period under review.
- Second on the list is Morgan Capital Securities Limited with trades in 1.13 billion unit of shares, accounting for 7.67% of the total shares traded in the stock market.
- Cordros Securities Limited – BRD followed closely with a total of 1.12 billion units of shares, representing 7.6% of the entire shares traded in the stock market.
- Cardinalstone Securities Limited traded in 1.01 billion units of shares to stand in fourth position and accounted for 6.87 of the total volume.
- Meristem Stockbrokers Limited accounted for 4.59% having brokered the trade of 676.3 million units of shares to stand in the fifth position.
- Others on the list include EFG Hermes (414.4 million for 2.81% of the total volume), Stanbic IBTC Stockbrokers (401.8 million for 2.73% of the total volume), United Capital (290.5 million), Apel Asset (274.9 million), Compass Investment & Securities (270.7 million).
What you need to know
- The All-Share index of the Nigerian stock market grew by 9.15% in the month of January 2022, following the 1.23% decline recorded in the previous month.
- Nigerian stocks have braced against all odds facing global markets to post double-digit returns as investors poured into large-cap stocks pushing the total market valuation of stocks into N25.1 trillion from N22.29 trillion.
- The rally is the market is attributable to the listing of Bua Foods, which joins the list of stocks worth over a trillion naira amongst other stellar performances from bluechip stocks.
- In the month under review, a total of 65 stocks gained out of which 33 posted double digit gains. Notable gainers also include Guinness, Wema Bank, Seplat all of which recorded over 20% gains during the month.
