By Dipo Olowookere
Last week, 10 stockbrokers assisted investors to buy and sell about 860.2 million shares on the floor of the Nigerian Exchange (NGX) Limited, accounting for 51.17 per cent of the total volume recorded between Monday, May 10, 2021, and Friday, May 14, 2021.
This group was led by Morgan Capital Securities, which traded 170.6 million units and accounted for 10.15 per cent and was followed by Chapel Hill Denham Securities with 162.5 million units (9.67 per cent).
In the week, Cardinalstone Securities transacted 103.3 million stocks (6.15 per cent), Meristem Stockbrokers exchanged 82.1 million shares (4.89 per cent), CSL Stockbrokers traded 76.0 million equities (4.52 per cent), while Stanbic IBTC Stockbrokers transacted 71.0 million shares (4.22 per cent).
In addition, APT Securities and Funds exchanged 55.2 million stocks (3.29 per cent), FBNQuest Securities traded 49.0 million stocks (2.92 per cent), WSTC Securities transacted 45.9 million shares (2.73 per cent), while EFG Hermes Nigeria exchanged 44.6 million stocks to account for 2.65 per cent.
In terms of value, 10 brokerage firms licenced by the Securities and Exchange Commission (SEC) to operate at the nation’s stock market accounted for N10.4 billion, representing 55.55 per cent.
They were led by APT Securities and Funds, which traded N2.1 billion to contribute 11.13 per cent to the total trading value for the three-day trading week as a result of the holiday observed on Wednesday and Thursday for Eid al-Fitr.
Stanbic IBTC Stockbrokers traded N1.6 billion shares to account for 8.12 per cent, Cardinalstone Securities exchanged N1.3 billion equities to contribute 6.97 per cent, Meristem Stockbrokers transacted N936.9 million to account for 4.90 per cent, CSL Stockbrokers exchanged N842.7 million stocks to account for 4.41 per cent, while FBNQuest Securities traded 788.9 million equities to contribute 4.13 per cent.
Also, EFG Hermes Nigeria traded 729.8 million shares to contribute 3.82 per cent, Morgan Capital Securities exchanged 719.2 million stocks to account for 3.76 per cent, Chapel Hill Denham Securities transacted 713.4 million shares to contribute 3.73 per cent, while APEL Asset traded 652.2 million equities to account for 3.41 per cent.
