Cardinalstone, Stanbic IBTC, and Cordros Securities led the chart of the top-performing stockbroking firms in the month of March 2022, as the top 10 firms traded in stocks valued at N101.32 billion in the review month.
The value of shares traded in March by the firms, represents a 2.7% increase compared to the N101.62 billion recorded in the previous month. However, it is 26.3% lower than the N141.57 billion recorded in the corresponding period of 2021.
This is contained in the NGX Broker Performance Report for the month of March 2022.
On the other hand, Cardinalstone, Imperial Asset Managers, and Chapel Hill Denham led the list in terms of the volume of brokered stocks. The top 10 stockbroking firms by volume, traded in 9.86 billion units of shares in March 2022.
Meanwhile, the Nigerian stock market benchmark index, the All-Share Index declined marginally by 0.91% in the review month to close at 46,965.48 index points compared to 47,394.53 points recorded as of the end of the previous month.
The top 10 performing stockbroking firms in March 2022 traded a total of N104.32 billion worth of shares, accounting for 56.1% of the total value of shares traded in the review month.
Cardinalstone Securities Limited topped the list, having traded in stocks worth N26.27 billion which represents 14.11% of the entire value of shares traded on the floor of the exchange in the month under review.
Stanbic IBTC Stockbrokers Limited followed with a total value of N22.99 billion traded stocks, accounting for 12.15% of the total shares traded at the exchange.
Cordros Securities Limited traded stocks worth N15.21 billion. This represents 8.17% of the entire shares traded at the exchange.
EFG Hermes Nig Limited was fourth on the list, having traded in stocks worth N9.42 billion, accounting for 5.06% of the total shares traded on the floor of the exchange.
RMB Nigeria Stockbrokers Limited traded in stocks worth N6.52 billion representing 3.5% of the entire value of shares traded at the exchange in March 2022.
Others on the list include CSL Stockbrokers (N5.67 billion), Meristem Stockbrokers Limited (N5.56 billion), WSTC Securities (N4.99 billion), Chapel Hill Denham Securities (N3.87 billion), and United Capital Securities (N3.81 billion).
Top stockbrokers by volume
The top-performing stockbrokers by volume, traded in 9.86 billion units of shares in the month of March 2022, representing 57.78% of the total shares traded in the stock market in the review period.
Cardinalstone Securities topped the list with 4.95 billion unit of shares, which represents 29.04% of the total volume traded in the period under review.
Second on the list is Imperial Asset Managers Limited with trades in 1.08 billion unit of shares, accounting for 6.33% of the total shares traded in the stock market.
Chapel Hill Denham Securities followed with a total of 728.62 million units of shares traded, representing 4.27% of the entire shares traded in the stock market.
Morgan Capital Securities Limited traded in 721.33 million units of shares to stand in the fourth position and accounted for 4.23% of the total volume.
Stanbic IBTC Stockbrokers Limited accounted for 4.18% having brokered the trade of 713.25 million units of shares to stand in the fifth position.
Others on the list include Meristem Stockbrokers (N452.45 million), CSL Stockbrokers (340.77 million), United Capital Securities (297.57 million), Coronation Securities (290.66 million), and Apel Asset Limited (279.25 million).
What you should know
The Nigerian Stock Market All Share Index closed the month of March in red with a negative return of 0.91 snapping back-to-back gains recorded in January and February respectively.
This is also the 5th consecutive year of losses for the stock market in the month of March making the month one of the most bearish in the Nigerian equities market.
Wema Bank topped the gainer’s chart with a 184% pop taking its total gains this year to 279%, followed by PZ and Presco with 51% and 28% gains respectively.
Nigeria Insurance and RT Briscoe led the losers with 33% and 31% losses respectively.
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