The Nigerian Exchange (NGX) closed August 2021 on a positive note, with the All-Share Index rising by 1.74%, moving from 38,547.08 at the end of July to 39,219.61 points. Despite this monthly growth, the market still reflected a year-to-date loss of -2.61%, following earlier downturns in the year.
According to the broker performance report released by the Nigerian Exchange Group, the top 10 stockbroking firms in August traded a combined 4.99 billion units of shares valued at N50.73 billion.
Trading Value Trends
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The N50.73 billion traded in August marked a 6.38% increase from N47.69 billion recorded in July.
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However, this figure was 6.5% lower than the N54.26 billion traded in June 2021.
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On a year-on-year basis, total trading value dropped by 11.71% from N57.46 billion recorded in August 2020.
Top Performing Stockbrokers by Value
The top 10 stockbroking firms accounted for 55.53% of the total value of shares traded in August:
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Stanbic IBTC Stockbrokers – N15.77 billion (17.27% of monthly trades). It also leads the year-to-date ranking with N136.45 billion traded.
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Rencap Securities – N6.79 billion (7.44%). Year-to-date: N77.98 billion.
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EFG Hermes Nigeria – N5.66 billion (6.19%). Year-to-date: N51.18 billion.
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CardinalStone Securities – N4.74 billion (5.19%). Year-to-date: N81.34 billion, placing second overall.
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APT Securities and Funds – N3.45 billion (3.77%).
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Cordros Securities – N3.35 billion (3.67%).
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Imperial Asset Managers – N3.13 billion (3.43%).
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Meristem Stockbrokers – N3.03 billion (3.32%).
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Stonex Financial Nigeria – N2.63 billion (2.88%).
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Chapel Hill Denham Securities – N2.17 billion (2.38%).
Top Performing Stockbrokers by Volume
In terms of volume, the top 10 brokers traded 46.95 billion units, representing 41.74% of total shares traded in August:
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Morgan Capital Securities – 998.91 million units (9.57%).
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Stanbic IBTC Stockbrokers – 852.41 million units (8.16%).
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Regency Assets Management – 816.6 million units (7.82%).
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CardinalStone Securities – 582.71 million units (5.58%).
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Meristem Stockbrokers – 476.08 million units (4.56%).
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APT Securities and Funds – 415.54 million units.
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Greenwich Trust Limited – 243.74 million units.
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CSL Stockbrokers – 232.35 million units.
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Global Asset Management – 186.48 million units.
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Futureview Securities – 184.41 million units.
Market Outlook
The performance in August suggests the market is gradually rebounding from the losses recorded in the first half of the year. The steady rise in trading value and volume, especially among top brokers, is a sign of growing investor confidence and market activity.
As of August 31, the Nigerian stock market’s year-to-date performance improved slightly, standing at -2.61% compared to earlier lows.
