February 1, 2023


Key Highlights

  • Cardinalstone Securities Limited led the list of top stockbroking firms in Nigeria both by volume and value in 2022.
  • The Nigerian equities market recorded a 19.98% gain in 2022 compared to a 6.07% rally recorded in the previous year.
  • A total of 201.98 billion units of shares were traded in the Nigerian Exchange in 2022 valued at N2.34 trillion.

Cardinalstone, Stanbic IBTC, and Apt Securities led the list of top-performing stockbroking firms in Nigeria for 2022, having brokered the trade of shares worth N934.54 billion, accounting for 0.4% of the total shares traded in the Nigerian equities market.

This is according to the annual broker performance report for 2022, released by the Nigerian Exchange Group (NGX).

A total of 201.99 billion units of shares were traded in the local bourse in the year valued at N2.34 trillion. This is 15.9% and 22.5% higher than the 174.24 billion units and N1.91 trillion recorded in the previous year.

Meanwhile, the All-Share Index of the NGX, which is used to track the performance of the equities market closed the year at 51,251.06 points, representing a 19.98% gain Year to Date compared to 43,046.78 points recorded at the start of the year.

It is worth adding that the 19.98% gain recorded by the Nigerian equities market is higher than the 6.07% recorded in the previous year, but was however lower than the 50.03% gain printed in 2020.

Nairametrics presents a ranking of the top 10 best-performing stockbroking firms in the country based on the volume of shares brokered and the value for the year 2022.

Top stockbrokers by value

The top 10 performing stockbroking firms in 2022 traded a total of N1.55 trillion worth of shares, accounting for 66.20% of the total value of shares traded in the year.

  • Cardinalstone Securities Limited led the list, having traded in stocks worth N571.5 billion. This represents 24.46% of the entire value of shares traded on the floor of the exchange in 2022. Last year it traded in stocks worth N143.6 billion.
  • Stanbic IBTC Stockbrokers Limited with a total value of N183.86 billion worth of shares traded in 2022, stands in the second position, accounting for 7.87% of the total shares traded at the exchange. The company dropped from first position last year when it traded in stocks worth N211.9 billion.
  • APT Securities and Funds traded stocks worth N179.1 billion and accounted for 7.67% of the total value of shares traded in 2022. Apt Securities improved from N73.32 billion traded in the previous year, moving from 7th to 3rd position in one year.
  • Meristem Stockbrokers Limited accounted for 5.1% of the total value of shares recorded in the period with N119.2 billion worth of shares traded. An improvement from N89.46 billion recorded in 2021.
  • EFG Hermes Limited traded in stocks worth N115.7 billion in 2022, accounting for 4.95% of the total value of stocks traded in the year. Despite an increase in value, EFG Hermes dropped from fourth position last year to fifth this time.
  • Others on the list include Cordros Securities Limited with N103.0 billion (4.41%), CSL Stockbrokers Limited with N85.61 billion (3.66%), and Chapel Hill Denham Securities Limited with N79.15 billion (3.39%).
  • FBN Quest Securities traded in shares valued at N68.64 billion (2.94%), while Investment One Stockbrokers completed the list with trades in stocks worth N41.23 billion, which accounted for 1.76% of the total value recorded in the year.

 

Top stockbrokers by volume

The top 10 performing stockbrokers by volume, traded 128.06 billion units of shares in 2022, representing 63.4% of the total shares traded in the stock market in the review period.

  • Cardinalstone Securities tops the list with 76.63 billion units of shares, which represents 37.94% of the total volume traded in the period under review, hence, maintaining the top position from last year.
  • Second on the list is Chapel Hill Denham Securities Limited with trades in 8.81 billion units of share, accounting for 4.36% of the total shares traded in the stock market in 2022.
  • Morgan Capital Securities followed closely with 7.25 billion units of shares traded, representing 3.59% of the total volume recorded.
  • Apt Securities Limited traded in 6.87 billion units of shares, to stand in the fourth position, accounting for 3.40% of the total volume.
  • CSL Stockbrokers Limited accounted for 2.97% of the total volume having brokered a total of 5.99 billion units of shares.
  • Others on the list include Cordros Securities Limited with (5.68 billion), Meristem Stockbrokers Limited (5.06 billion), Stanbic IBTC Stockbrokers (5.03 billion), Apel Asset (3.43 billion), and EFG Hermes (3.29 billion).

 



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