Cardinalstone, Stanbic IBTC, and CSL Stockbrokers led the list of top-performing stockbroking firms in the month of May 2022, as the top 10 firms traded in stocks valued at N499.21 billion in the review month.
The value of shares traded in May by the firms, represents a 284% increase compared to the N130.1 billion recorded in the previous month. It is also 874% higher than the N51.26 billion traded in the corresponding month of 2021.
This is contained in the NGX Broker Performance Report for the month of May 2022.
On the other hand, Cardinalstone, CSL Stockbrokers, and Finmal Finance Company traded the highest volume of stocks in the review month as the top 10 companies facilitated the trade of 63.96 billion units of shares.
Top stockbrokers by value
- The top 10 performing stockbroking firms in May 2022 traded a total of N499.21 billion worth of shares, accounting for 82.05% of the total value of shares traded in the review month.
- Cardinalstone Securities Limited topped the list, having traded in stocks worth N401.3 billion, singlehandedly accounting for 65.96% of the total shares traded on the floor of the exchange in the month under review.
- Stanbic IBTC Stockbrokers Limited followed with a total value of N20.29 billion traded stocks, accounting for 3.33% of the total shares traded at the exchange.
- CSL Stockbrokers Limited traded stocks worth N17.49 billion. This represents 2.88% of the entire shares traded at the exchange.
- Cordros Securities Limited was fourth on the list, having traded in stocks worth N13.22 billion, accounting for 3.17% of the total shares traded on the floor of the exchange.
- EFG Hermes Nigeria Limited traded in stocks worth N12.54 billion representing 2.06% of the entire value of shares traded at the exchange in May 2022.
Others on the list include Meristem Stockbrokers (N8.06 billion), Apel Asset Limited (N6.89 billion), Chapel Hill Denham Securities (N6.76 billion), EDC Securities (N6.46 billion), and APR Securities and Funds (N6.16 billion).
Top stockbrokers by volume
The top-performing stockbrokers by volume, traded in 63.96 billion units of shares in the month of May 2022, representing 88.45% of the total shares traded in the stock market in the review period.
- Cardinalstone Securities topped the list with 56.1 billion units of shares, which represents 77.55% of the total volume traded in the period under review.
- Second on the list is CSL Stockbrokers Limited with trades in 2.34 billion units of shares, accounting for 3.24% of the total shares traded in the stock market.
- Finmal Finance Company followed with a total of 1.35 billion units of shares traded, representing 1.87% of the entire shares traded in the stock market.
- Morgan Capital Securities Limited traded in 1.13 billion units of shares to stand in the fourth position and accounted for 1.56% of the total volume.
- APT Securities and Funds accounted for 0.94% having brokered the trade of 681.92 million units of shares to stand in the fifth position.
Others on the list include Meristem Stockbrokers (608.67 million), EDC Securities (563.93 million), Stanbic IBTC (506.34 million), Readings Investments Limited (353 million), Apel Asset Limited (344.25 million).
What you should know
- The Nigeria stock market posted positive returns in the month of May 2022, as the All-share index rallied by 6.75% to close the month at 52,990.28 basis points.
- In the same vein, the market capitalization gained N1.6 trillion to stand at N28.6 trillion.
- The best-performing stocks in the review month were McNichols Plc with +182.86% growth in its share price, Cadbury Nigeria with +72.68%, and Abbey Mortgage Bank with +60.71%.
- Others with significant appreciation include Champion Breweries (+56.75%), International Breweries (+54.9%), and Okomu Oil with +46.26%.