Stanbic IBTC, FBN Quest, EFG Hermes led the list of top-performing stockbroking firms in the month of July 2022; jointly accounting for 31.6% of the total value of shares traded in the Nigerian Exchange in the review month.
This is according to the Broker performance Report, released by the Nigerian Stock Exchange for the month of July 2022.
On the other hand, Norrenberger Securities, FBN Quest, and Stanbic IBTC led in terms of volume of shares traded. Contributing an aggregate of 29.98% to the total units of shares traded in the review month.
The top 10 stockbroking firms in the month of July brokered the trade of shares worth N59.79 bn, rep 57.7%. Meanwhile, the value of shares traded by the top firms is 39.43% lower than the N98.73 billion; worth of shares brokered in the previous month.
The Nigerian stock market recorded a 2.79% decline in the month of July 2022, as the All-Share Index dropped to 50,370.25 index points, largely driven by bearish sentiment in the local equities market. In the same vein, the total market capitalization declined by N777 billion in the review month to stand at N27.16 trillion from N27.94 trillion recorded as of the beginning of the month.