Ten stockbrokers on the Nigerian Exchange Limited (NGX) traded about N601.078 billion worth of shares in the first two months of the year, 2025.
The NGX in its titled: ‘Year To Date Top 10 Stockbrokers February 2025’ revealed that the top 10 stockbrokers, which are Cardinalstone Securities, APT Securities & Funds, Stanbic IBTC Stockbrokers, Meristem Stockbrokers, Coronation Securities, Cordros Securities, Global Asset Management Nigeria, APEL Asset Management, Morgan Capital Securities and FBN Quest Securities were responsible for 53.68 per cent of the total value of stocks traded.
Cadinalstone Securities secured the highest position in the ranking, with a transaction value of N154.822 billion, which accounts for 13.83 of the overall transaction value.
APT Securities & Funds followed with shares transaction of N87.296 billion, representing 7.80 per cent; while Stanbic IBTC Stockbrokers recorded an estimated value of N77.381 billion in trades accounting for 6.91 per cent.
Meristem Stockbrokers facilitated transactions worth N65.222 billion, while Coronation Securities transacted shares valued at N46.752 billion during the first two months of the year.
Others are Cordros Securities, Global Asset Management, APEL Asset, Morgan Capital Securities and FBN Quest Securities, which facilitated deals valued at N45.455 billion, N41.124 billion, N29.895 billion, N27.537 billion and N25.595 billion respectively between January and February.
Meanwhile, in volume terms, the top ten brokerage firms conducted transactions totalling 22.662 billion shares between them, accounting for 46.86 per cent of the entire trade executed on the exchange in that period.
Global Asset Management traded a volume of 4.090 shares, representing 8.46 per cent of the total volume of shares traded in January and February. Cardinalstone Securities followed with a volume 4.086 billion units of shares, a total of 8.45 per cent; while Meristem Stockbrokers accounted for 2.829 billion shares (5.85 per cent).
Equities trading on the NGX concluded the first two months of 2025 on a positive note amid year-beginning portfolio positioning, corporate actions, and performance expectations ahead of the full year 2024 earnings season.
As a result, the NGX All-Share Index (NGX-ASI) gained 4.76 per cent year-to-date as at February 28, 2025 to close at 107,821.39 points. Similarly, market capitalisation grew by N4.430 trillion, reaching N64.193 trillion at the end of February, 2025.
On market performance, the chief operating officer of InvestData Consulting Limited, Mr. Ambrose Omordion stated that “the NGX extended its positive outing for the second month of 2025 on the back of an inflow of impressive unaudited corporate earnings performance, amid reactions to the emerging numbers.”
He added that “the mixed sentiment during the period result from profit taking in the last trading weeks and the delay in the release of audited 2024 accounts that started hitting the market in the final trading sessions of February with positive corporate earnings and dividend announcements that is expected to attract funds into the equity space in the new week, even as the outlook for March is mixed.”
Omordion pointed out that, “many companies posted strong top and bottom lines for 2024, revealing corporate Nigerian resilient and ability of converting economic headwinds to opportunities that supported their positive scorecards.
“However, the latest rate pause by the monetary authority, is yet to give a clear direction post-inflation rebasing period, but rate cut in the second half of the year will be a plus for economic expansion and the stock market.”
