Ten stockbrokers on the Nigerian Exchange traded about N57.69bn worth of shares in the week just ended.
According to the weekly analysis of trading activities seen by Sunday PUNCH, the value of the trade of the 10 stockbrokering firms equalled about 58.92 per cent of the total traded value on the local bourse.
Leading the ten stockbrokers with the highest value was Cardinalstone Securities, which cornered 12.76 per cent of the traded value at N12.48bn. Following was Stanbic IBTC Stockbrokers Limited with N9.50bn (9.70 per cent), United Capital Securities Limited recorded N9.29bn worth of transactions, which is about 9.49 per cent of the total traded value of the NGX
Others stockbrokers with high value of trade include EFG Hermes Nigeria Limited, CSL Stockbrokers, Anchoria Investment and Securities, ABSA Securities Nigeria, Meristem Stockbrokers Limited, Readings Investment Limited and Cordros Securities.
On the volume table, Cardinalstone Securities maintained its top spot as it saw over 467.02 million units of shares go through table which is about 13.38 per cent, Stanbic IBTC stockbrokers also stood at the number two spot on the volume chart with 233.64 million units of shares (6.69 per cent). Related News Bargain hunting drives equity market to N2tn gain Equity market rebounds, gains over N3tn in one week Capital market extends bullish trade to fourth day
They were followed by Morgan Capital Securities, CSL stockbrokers, Meristem Stockbrokers, EFG Hermes, Anchoria Investment and Securities, United Capital Securities, Readlings Investments and Apel Asset Limited.
The exchange closed on a positive note on Friday leading to a 0.25 per cent increase in the All-Share Index contributing to a year-to-date return of 39.95 per cent. Consequently, the market capitalisation rose to N59.17tn
The market movers were the stocks of Zenith Bank Plc; the financial institution announced the appointment of Adaora Umeoji as Group Managing Director- designate during the week. The appointment of Umeoji, a Deputy Managing Director, becomes effective on June 1.
The shares of Guaranty Trust Holding Company and AccessCorp were also the toast of investors signalling renewed interest in banking stocks.