Capital Assets leads volume movers on NSE in Q1

Capital Assets led ten securities trading firms, responsible for 60 percent of the total trades that took place on the Nigerian stock Exchange (NSE) in the first Quarter of 2017.

The Nigerian Stock Exchange, broker performance report for 3rd January till 31st March 2017, revealed that Capital Assets traded a total of 7.1 billion shares in Q1, accounting for 18 percent of the total volume of 23.7 billion traded by the top ten firms.

Coming second on the list of top 10 brokers was Stanbic IBTC Stockbrokers Limited with N2.4 billion units of shares representing 6.1 percent of the total volume traded.

Rencap Securities was next with 2.2 billion shares traded accounting for 5.6 percent, while Cordros Securities traded 2.0 billion shares representing 5.14 percent of total volume traded by the top ten brokers.

Imperial Asset Managers similarly made the list to the fifth position with 1.98 billion shares representing 5.01 of volume traded while ARM Securities limited transacted 4.91 percent which amounted to 1.94 billion units.

Other top volume movers for the first quarter were Meristem Securities, Fundvine Capital and Securities, Morgan Capital Securities Limited and CSL Stock Brokers Limited. They traded 1.92 billion, 1.76 billion, 1.22 billion and 1.21 billion each representing 4.86 percent, 4.45 percent, 3.08 percent and 3.06 percent respectively.

In terms of value traded, Cordros Securities Limited, a subsidiary of Cordros Capital Limited that occupied the fourth position in volume terms, with 2.030 billion shares emerged the most active stockbroking firm.

It accounted for 41 percent or N186.4 billion of the total value of N355.35 billion executed by top ten brokers in the first quarter of 2017.

Recall that Cordros Securities Limited acted as the execution stockbroker to the recently concluded NIPCO’s acquisition of ExxonMobil Oil Corporation’s stake in Mobil Oil Nigeria Plc.