Top brokers once again proved their dominance on the NGX during the first full trading week of 2026, showing how a handful of firms continue to shape the market.
Specifically, the top ten brokers accounted for 54.52% of total share volume and 48.83% of transaction value, concentrating activity in just a few hands.
Top brokers dominate NGX
At the forefront, CardinalStone Securities Limited (CSSL) executed 2.08 billion shares worth ₦21.91 billion, trading nearly one in every four shares that week.
Moreover, CSSL led both volume and value because it combined high-frequency trades with large institutional deals.
Meanwhile, Morgan Capital Securities and Meristem Stockbrokers followed in volume, completing 464.7 million and 428.1 million shares, far behind CSSL.
Volume Versus Value Strategies
On the other hand, Stanbic IBTC Stockbrokers, Meristem, and Cordros Securities excelled in transaction value, showing how brokers employ different strategies across volume and value.
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Additionally, Atlass Portfolios, Afrinvest Securities, Reward Investment, EFG Hermes Nigeria, APT Securities, and StoneX Financial also shaped the market, each contributing to overall activity.
Together, the top ten brokers executed ₦45.91 billion of the ₦94.03 billion weekly turnover from 4.164 billion shares traded in 248,254 deals.
Some brokers focused on high-volume, lower-value trades, whereas others pursued fewer, higher-value transactions, revealing diverse market approaches.
Historical Trends And Dominance
Looking back, 2025 showed a similar trend: the top ten brokers traded 223.7 billion shares, capturing nearly half of all activity.
Notably, CSSL executed ₦2.18 trillion in value last year and ranked second by volume, confirming its dominance across all market metrics.
As 2026 begins, the market clearly revolves around a few heavyweights who actively steer trading and shape market direction.
