10 Firms Trade N1.547trn Stocks In 2022

Top 10 stockbroking firms in the Nigeria’s capital market traded stocks of 128.060 billion units of shares valued at N1.547 trillion in 2022.

The value of shares traded by the top 10 stockbroking firms in 2022 represented 66.20 per cent of the total trades registered while in terms of volume, it accounted for 63.40 per cent of the total volume.

According to the Broker Performance Report for 2022, released by the Nigerian Exchange (NGX) Limited, the top stock broking firms processed 128.060 billion units of shares valued at N1.547 trillion in 2022.

Reviewing the performance, Cardinalstone Securities Limited led the list, with trades valued at N571.542 billion, accounting for 24.46 per cent of the total value of traded stocks in 2022.

Stanbic IBTC Stockbrokers followed with trade valued at N183.857 billion, representing 7.87 per cent of the total recorded trades, while APT Securities and Funds Limited traded stocks valued at N179.144 billion, representing 7.67 per cent of the total trades.

Meristem Stockbrokers recorded trades in stocks valued at N119.233 billion, while EFG Hermes pulled a transaction of N115.742 billion worth of stocks in 2022.

Others are Cordros Securities, CSL Stockbrokers, Chapel Hill Denham Securities, FBN Quest Securities and Investment One Stockbrokers International traded shares value at N103.043 billion, N85.609 billion, N79.146 billion, N68.643 billion and N41.226 billion, respectively.

Meanwhile, investors in Nigerian equities rallied net capital gains of N5.618 trillion in the year 2022, as the market sustained resilience during the year.

Despite the year being a pre-election year, the impact of electioneering activities on the equities market was less pronounced when compared to previous pre-election years.

The key performance indicator of the Nigerian Exchange (NGX) Limited, the All-Share Index (ASI), went up by 19.98 per cent to close on December 30, 2022 at 51,251.06 points from 42,716.44 points at which it opened trading for the year. Similarly, market capitalisation for the period gained by N5.618 trillion to N27.198 trillion on December 30, 2022 from N22.297 trillion.

Recall that the domestic stock market the performance of the Nigerian equities market was broadly positive at the start of the year owing to a combination of positive 2021 full year corporate earnings and dividend declarations.

In addition, the accommodative interest rate environment provided room for buying interest amid low yields on fixed-income instruments.

Furthermore, some notable events in the year supported the market rally in H1, 2022, the year started with BUA Foods Plc listed a total of 18.00 billion shares at N40.00 per share on the mainboard of the Exchange.

Also, Dangote Cement Plc successfully executed the second tranche of its Share buy-back program in January. Furthermore, the CBN’s approval of Payment Service Bank licenses for the two listed telecommunication players; MTN Nigeria Communications and Airtel Africa spurred a positive market reaction. Among others major events.

The MD of ARM Securities Limited, Mr. Rotimi Olubi, said the improved participation by local investors in the market boosted the performance this year.

He added that, the positive earnings boosted investors’ confidence in the equities market, adding that improved participation by domestic players in the market was the major factor that shielded the NGX from negative sentiments seen in the global equities market due to the Russia-Ukraine conflict.