Cardinalstone Securities Limited led the list of top stockbroking firms in Nigeria both by volume and value in 2022.
According to the annual broker performance report for 2022 released by the Nigerian Exchange Group (NGX), Cardinalstone led the list, having traded in stocks worth N571.5 billion, representimg 24.46 percent 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
The top 10 performing stockbroking firms in 2022 traded a total of N1.55 trillion worth of shares, accounting for 66.20 percent of the total value of shares traded in the year.
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 percent of the total shares traded in the Nigerian equities market.
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 percent 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 percent of the total value of shares traded in 2022. APT Securities improved from N73.32 billion traded in the previous year, moving from seventh to third position in one year.
Meristem Stockbrokers Limited accounted for 5.1 percent 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 percent 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, CSL Stockbrokers Limited with N85.61 billion and Chapel Hill Denham Securities Limited with N79.15 billion.
FBN Quest Securities traded in shares valued at N68.64 billion, while Investment One Stockbrokers completed the list with trades in stocks worth N41.23 billion, which accounted for 1.76 percent of the total value recorded in the year.
It will be recalled that a total of 201.99 billion units of shares were traded in the local bourse in the year 2022 valued at N2.34 trillion. This is 15.9 percent and 22.5 per cent 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 percent gain Year to Date compared to 43,046.78 basis points recorded at the start of the year.
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