Strong Market Activity Among Leading Brokers
The top ten stockbroking firms on the Nigerian Exchange Limited (NGX) recorded significant trading activity, executing stock deals worth N601.08 billion between January and February 2025. This performance underscores the growing momentum in the stock market.
Cardinalstone Securities Leads the Pack
According to the latest broker performance report, Cardinalstone Securities Limited emerged as the most active firm, topping the list with transactions worth N154.82 billion. This accounted for 13.83% of the total value of equities traded on the NGX over the two-month period.
Following closely, APT Securities and Funds traded stocks valued at N87.30 billion, representing 7.80% of the total. Additionally, Stanbic IBTC Stockbrokers Limited facilitated trades amounting to N77.38 billion, making up 6.91% of the total market transactions.
Contributions from Other Key Players
Several other firms played significant roles in the market during the period:
- Meristem Stockbrokers Limited handled trades worth N65.22 billion (5.83% of total value).
- Coronation Securities Limited facilitated transactions amounting to N46.75 billion, which represented 4.18%.
- Cordros Securities Limited accounted for N45.45 billion, approximately 4.06% of total trades.
- Global Asset Management Nigeria Limited traded N41.12 billion in equities (3.67%).
- Apel Asset Limited recorded stock transactions worth N29.89 billion, contributing 2.67% to the market.
- Morgan Capital Securities Limited executed trades valued at N27.54 billion, representing 2.46%.
- FBN Quest Securities Limited recorded N25.59 billion in stock transactions, making up 2.29% of total deals.
Market Share of Top Firms
The combined trading volume of these ten firms accounted for 53.68% of the total value of stocks exchanged on the NGX over the two months. This highlights their dominant position in Nigeria’s stockbroking landscape.
Top Performers by Trading Volume
Beyond value, these stockbrokers also led in the total volume of shares traded. The top ten firms exchanged approximately 22.66 billion shares, representing 46.86% of the market’s total volume during the period.
Breakdown of Top Firms by Volume:
- Global Asset Management Nigeria Limited led with 4.09 billion units (8.46% of total volume).
- Cardinalstone Securities Limited closely followed, trading 4.08 billion shares (8.45%).
- Meristem Stockbrokers Limited recorded 2.83 billion units (5.85%).
- Morgan Capital Securities Limited accounted for 2.78 billion shares, making up 5.75%.
- Stanbic IBTC Stockbrokers Limited traded 1.91 billion units, representing 3.96% of the total.
- APT Securities and Funds exchanged 1.79 billion shares, contributing 3.71%.
- Coronation Securities Limited handled 1.69 billion units (3.49%).
- Securities & Capital Management Company Limited traded 1.32 billion shares, making up 2.72%.
- GTI Securities Limited executed 1.13 billion shares, representing 2.34%.
- CSL Stockbrokers Limited recorded 1.03 billion units, accounting for 2.13% of total volume.
Stockbrokers Continue to Drive Market Growth
The dominance of these firms highlights the growing investor confidence in the Nigerian stock market. With increased liquidity and strong trading activity, market players anticipate sustained growth in the months ahead. As institutional and retail investors continue to participate actively, the NGX remains a key driver of economic development in Nigeria.
