CardinalStone Executes N325bn Transaction, Propels Bullish Equities Trading

CardinalStone’s performance in early June builds on its strong momentum in the first five months of 2025.

From January to May, 2025, CardinalStone Securities Limited (CSSL) executed over N325billion in transactions and trading more than 8.7 billion shares, even as the firm was ranked among the top two brokers on the Nigerian Stock Exchange (NGX) within this period.

This is even as the market rally was bullish in the first few days of the ongoing month as CSSL led the equities market to positive.

The Nigerian Exchange (NGX) had opened June 2025 on a bullish trajectory, with the All-Share Index (ASI) surging to a historic high of 114,616.75.  This record-setting performance aligns with the second anniversary of the current administration, reflecting investor confidence in ongoing economic reforms.

Over the past two years, key policy initiatives—including the liberalisation of the foreign exchange market, removal of fuel subsidies, re-adoption of orthodox monetary policy, and the cessation of deficit monetisation—have bolstered market sentiment.

These measures, coupled with relative stability in the naira amid global risk-off conditions, have revived earnings across several sectors, particularly fast-moving consumer goods (FMCG) and telecommunications.

The improved macroeconomic landscape has led to stronger credit ratings, further strengthening investor confidence and boosting participation. Notably, domestic investors have become increasingly active, supporting a more balanced investor base and deepening market liquidity.

CardinalStone Securities Limited (CSSL), which once again asserted its dominance. Between June 2 and 5, emerged as the top-performing broker by both volume and value, accounting for 37.76% of total market volume and 36.36% of total value traded. During this period, the firm executed trades worth over N55.5 billion, covering more than 2.4 billion shares.

Speaking on this development, the managing director of CardinalStone Securities, Peter Omoregie said: “Our performance is a testament to the trust our clients place in us and our unwavering commitment to delivering consistent value. As investor confidence continues to grow and policy reforms take hold, we are proud to serve as a trusted partner in navigating the evolving market landscape.”

A market analyst noted that, “CardinalStone’s dominance in early June highlights its strength in connecting investors with quality Nigerian securities. Capturing nearly 40% of market activity in such a short period is no small feat.”

Data from the NGX underscores a robust and competitive market environment. The top 10 brokers accounted for 67.96% of market volume and 69.83% of value traded during the period, indicating a healthy concentration of activity among leading firms.

Other notable performers included: EFG Hermes Nigeria Limited, ranking second by value traded with over N14.4 billion. APT Securities and Funds, placing second by volume with more than 416 million shares traded. Stanbic IBTC Stockbrokers Limited, featuring prominently across both volume and value metrics.

As the second half of 2025 approaches, the strong market performance in early June signals sustained optimism among investors. Backed by progressive policy, improving economic indicators, and strong performance from leading brokers like CardinalStone, Nigeria’s capital market, experts said, remains an attractive destination for both local and international capital.

The record ASI and surging activity on the NGX reaffirm Nigeria’s standing as a leading investment hub in Africa and a key emerging market on the global stage.