By TENEBE ANTHONIA, Lagos –
Monthly trading data obtained from the Nigerian Exchange Limited (NGX) revealed that securities dealers brokered 7.4 billion shares worth N83.78 billion in September.
This is just as the market capitalisation closed at N26.45 trillion at the end of the same period, with the NGX All-Share Index appreciating by 14.77 per cent year-to-date from 42,716.44 basis points to 49,024.16bps.
According to the data, the top 10 brokers by volume were Parthian Securities Limited (PSLC); Cardinal Stone Securities Limited (CSSL); Equity Capital Solutions Limited (EQTL); Stanbic IBTC Stockbrokers Limited (SISB); CSL Stockbrokers Limited (CSLS); Morgan Capital Securities Limited (MCSE); United Capital Securities Limited (MCSE); EFG Hermes Nigeria Limited (UBAS); APT Securities and Funds –BRD (APT); and Meristem Stockbrokers Limited (MERI). The top 10 brokers by volume did 51.93% of the total volume traded in September. This amounted to 3.85 billion shares at the end of trading on 30 September.
By value, the top 10 brokers were Stanbic IBTC Stockbrokers Limited (SISB); CSL Stockbrokers Limited (CSLS); Cardinal Stone Securities Limited (CSSL); EFG Hermes Nigeria Limited (UBAS); Investment One Stockbrokers Intl Ltd-BRD (I0NE); WSTC Securities Limited; Meristem Stockbrokers Limited (MERI); United Capital Securities Limited (UBAS); Quantum Zenith Securities and Investment Limited; FBN Quest Securities Limited (FBNS). The top 10 brokers by value did 56.3% of the total value of shares brokered in September. These represented N47.22bn as trading closed on the floor of NGX for the month.
Investors were bullish on the telecoms and banking sectors as MTN Nigeria Plc (MTNN), Guaranty Trust Holding Company Plc (GTCO) and Zenith Bank Plc (ZENITH) saw the highest trading volumes for the month. Trading license holders exchanged 7.3 billion shares of MTN making it the top traded stock of the month, followed by 6.7 billion shares of GTCO while ZENITH came in third with 6.2 billion units of its shares traded in September.
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