January 2026 proved to be a bullish start for the Nigerian stock market, with the Nigerian Exchange (NGX) reporting a 6.27% gain for the month. In its latest broker performance report, NGX ranked stockbroking firms based on transaction volume and value, highlighting the firms that played a pivotal role in facilitating market liquidity during this period. While brokers don’t dictate market trends, their activity remains critical to keeping trades flowing efficiently for investors.
The report revealed that the top brokers collectively traded 14.4 billion shares in January, representing 45.13% of the total market volume. This figure was slightly below the 15.4 billion shares traded during the same period in 2025, indicating a minor slowdown in the number of transactions. However, when it comes to value, the activity told a different story.
In terms of transaction value, the top 10 brokers executed trades worth a combined N457.7 billion, accounting for 52.88% of the total market value. This represents a significant increase from the N341.6 billion recorded in January 2025, showing that large-scale trades were driving market activity more than sheer volume. This trend underscores the importance of analyzing trade value over volume, as it better reflects a broker’s market impact.
Among the best-performing firms, The Bridge Securities Limited made an impressive entry, claiming the 10th spot by transaction value with N17.3 billion worth of trades. Although the broker didn’t rank among the top 10 by trading volume, the monetary significance of its trades highlights its growing influence in the market. The Bridge Securities’ January performance accounted for 3.79% of the value handled by the top 10 brokers and 2.00% of the total market value of N865 billion.
FTN Cocoa and Unity Bank led the week as top gainers, showcasing the resilience and strategic positioning of Nigeria’s leading brokers. As the market continues to attract investor interest, the January report serves as a reminder of the pivotal role brokers play in driving market liquidity and shaping trading trends. Investors and market watchers will be keen to track these firms in the coming months as activity accelerates.
source: nairametrics