A group of ten leading stockbroking firms accounted for N949.9 billion in trades on the Nigerian Exchange in April 2026, representing 52.37 percent of total market activity for the month. The data reflects a market largely influenced by a small number of dominant players.
Cardinal stone Securities led the rankings with transactions exceeding N321 billion, maintaining a clear lead over competitors. Cordros Securities followed with over N124 billion, while Stanbic IBTC Stockbrokers recorded more than N104 billion in trades.
Other firms in the top tier included EFG Hermes Nigeria, Meristem Stockbrokers, First Securities Brokers, Coronation Securities, and United Capital Securities. Lambeth Capital and QCapital Ltd completed the list, reinforcing the concentration of trading power within a select group of firms.
Collectively, these brokers also handled over 16 billion shares, accounting for nearly half of the total trading volume during the period.
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The strong broker performance aligned with a broader market upswing, as the NGX recorded a significant increase in market value in April. Analysts link this to improved investor sentiment and increased participation.
The data highlights the continued importance of institutional brokers in driving liquidity, shaping price movements, and sustaining overall market momentum.
The dominance of top brokers reflects a concentrated but active market, with institutional players continuing to shape trading trends on the NGX.
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