CardinalStone Securities Limited handled N153.77 billion in transaction value, an equivalent of 9.9 per cent of the total turnover of the Nigerian Exchange Limited in the first quarter, to lead the famous top 10 table...CardinalStone Securities Limited handled N153.77 billion in transaction value, an equivalent of 9.
The performance was consistent with last year’s performance. Last year, it led in terms of value with N440.55 billion transactions, which was 12.3 per cent of the total market turnover of N3.54 trillion. It was second to United Capital in volume terms, transacting 24.97 billion stocks. Last year, the combined trade of the leading 10 brokers was valued at N1.97 trillion, a staggering 54.8 per of the year’s turnover. In volume terms, they added a total of 50.4 per cent to market activities.
Others are APEL Asset Limited, FBN Quest Securities Limited and Regency Assets Management Limited. With banks exploring fresh capital-raising options reminiscent of the 2005 recapitalisation, the Nigerian stock market is gaining renewed attention. Year-to-date, the market has gained 35.5 per cent with its all-share index rising from 76,000 to its current 103,047 basis points.Before flagging, please keep in mind that Disqus does not moderate communities.
The prolonged foreign exchange illiquidity, high-interest rates and cost of raw materials have continued to push up the operating cost of firms under the healthcare subsectors, impacting their profitability negatively.
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