10 Firms Trade Stocks Worth N3.14trn In 12 Months

Ten brokerage firms facilitated transactions valued at N3.138 trillion on the Nigerian Exchange (NGX) in the year 2024.

This was stated in the annual broker performance report recently released by the Nigerian Exchange (NGX) Limited.

The report said that “the value translated to 54.97 per cent of the cumulative trade executed on the exchange from January through December, 2024. While, in volume terms, the top ten brokerage firms conducted transactions totalling 118.954 billion shares between them, accounting for 42.75 per cent of the entire trade executed on the exchange in that period.

Capital market analysts noted that despite concerns such as rising inflation, and interest rate hikes, investor confidence remained strong, leading to increased buying activity.

Among the stockbroking firms in Nigeria, CardinalStone Securities secured the highest position in the ranking, with a transaction value of N696.03 billion, which accounts for 12.19 per cent of the overall transaction value.

Stanbic IBTC Stockbrokers followed closely with shares valued at N642.819 billion, representing 11.26 per cent of the total transaction value; while United Capital Securities recorded an estimated value of N341.060 billion in trades accounting for 5.98 per cent.

APT Securities & Funds facilitated transactions worth N286.526 billion, while Cordros Securities transacted shares valued at N283.007 billion in 2024.

Others are; EFG Hermes, FBN Quest Securities, Meristem Stockbrokers, CSL Stockbrokers, and Apel Asset, which facilitated deals valued at N190.048 billion, N189.941 billion, N188.153 billion, N175.429 billion, and N144.765 billion respectively.

Meanwhile, investors in Nigerian equities rallied net capital gains of about N21.845 trillion in the year 2024, as market capitalisation for the period went up to N62.763 trillion on December 31, 2024 from N40.918 trillion at which it opened trading for the year. Also, the key performance indicator of the NGX, the All-Share Index (ASI) went up by 37.72 per cent to close the year 2024 at 102,926.40 points from 74,773.77 points at which it opened trading for the year.

Speaking at the Closing Gong ceremony to end the 2024 trading activities, the chief executive officer, NGX, Jude Chiemeka, represented by the head of Trading and Products, Abimbola Babalola, said, “the year 2024 witnessed significant activity in the secondary market, a testament to the efforts of our trading license holders. Complementary macroeconomic fundamentals were instrumental, and we appreciate the impactful policy making by the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance.”

On his part, group managing director/chief executive of Nigerian Exchange Group, Temi Popoola said “Nigeria’s capital market has proven itself as a hub of resilience and innovation, consistently offering valuable opportunities for investors.

“The strong performance of our blue-chip companies over the past decade has been a key driver of returns, even amid challenging economic cycles. Inflationary pressures have made equities an attractive hedge, and strategic new listings have significantly boosted market activity,” he said.