Top 10 brokers drive N1.11trn deals in Q2 as investor confidence strengthens
BY MOTOLANI OSENI
Investor confidence continued to surge on the Nigerian Exchange (NGX) in the second quarter (Q2) of 2025, as ten leading stockbroking firms accounted for N1.112 trillion worth of transactions between April and June, representing 56.60 per cent of the total market turnover for the period.
According to the NGX Broker Performance Report, Cardinalstone Securities led the pack with trades valued at N256.50 billion, contributing 13.06 per cent to the quarter’s total value. EFG Hermes Nigeria followed with N161.15 billion, while Cordros Securities posted N157.99 billion in total deals.
Other key performers included United Capital Securities (N136.48 billion), Stanbic IBTC Stockbrokers (N103.16 billion), Meristem Stockbrokers (N83.65 billion), CSL Stockbrokers (N61.53 billion), Vetiva Capital Management (N54.07 billion), Coronation Securities (N52.31 billion), and First Securities Brokers (N44.73 billion).
In terms of trading volume, the top 10 brokers collectively moved 33.09 billion shares, accounting for 45.19 per cent of the market-wide volume during the quarter.
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Cardinalstone Securities again led with 7.77 billion shares, representing 10.62 per cent of the total market volume. United Capital followed with 4.24 billion shares, while Meristem Stockbrokers traded 3.94 billion shares.
The robust performance of these firms aligns with the broader bullish sentiment in the equities market. The NGX posted a significant N13.20 trillion gain in capitalisation in the first half of 2025, reflecting renewed investor interest and positive market fundamentals.
Looking ahead, analysts at Afrinvest Limited reaffirmed their bullish forecast for 2025, maintaining a 30.4 per cent full-year market return under a base-case scenario. They cite key drivers such as sustained banking sector capital raising, moderating fixed-income yields, reform-led fiscal policies, FX stability, and prospects of major corporate listings as catalysts for continued market strength in the second half of the year.
