Stockbrokers trade N597.4bn in H1
Despite the economic impact of the Covid-19 pandemic, the top ten stockbroking firms in Nigeria traded a total of N597.4 billion worth of shares between January and June 2020.
The top ten stockbroking firms in Nigeria according to the Broker Performance Report released by the Nigerian Stock Exchange (NSE) traded a total of N597.4 billion and a total volume of 39.6 billion units of shares over the period of January to June.
The report also revealed that the top ten stockbroking firms accounted for 59.31 per cent of the total value of shares traded year to date and 47.22 per cent of the total volume of shares traded on the NSE in the same period.
Among the top 10 stockbrokers by value include Stanbic IBTC Stockbrokers Ltd with a value of N128.3 billion, accounting for 12.73per cent of the total value of shares traded during the period.
EFG Hermes having transactions to the value of N118.5 billion, thereby representing 11.77 per cent of the total value of shares traded.
Rencap took the third spot with the value of its transactions to the tune of N82.2 billion, making an 8.16 per cent contribution to the total value of shares traded over the course of the period.
The total value of transactions made by CSL Stockbrokers stood at N63.5 billion and this accounted for 6.30 per cent of the total value of shares traded in the period.
Cardinal Stone Securities transacted in shares valued at N50.5 billion as well, representing a 5.02 per cent of the total traded shares during the period under review.
Other stockbroking firms that made the top 10 list include Chapel Hill Denham Securities (N34.2 billion), Tellimer Capital Limited (N33.5 billion), Cordros Securities (N31.4 billion), Meristem Stockbrokers Limited (N28.9 billion) and FBN Quest Securities Ltd (N26.2 billion.)
Top 10 stockbrokers by volume of shares traded are Cardinal Stone Securities Ltd.: Cardinal Stone came tops with trades of 6.2 billion units of shares which represents 7.37 per cent of the total units traded in the first half of the year.
Next on the list was EFG Hermes which traded 6.1billion units of shares, thereby accounting for 7.28 per cent of the total shares traded in the period under review.
Third on the ranking is Morgan Capital which traded 5.7 billion units of shares in the period from January to June 2020 and this came to a total contribution of 6.76 per cent.
Stanbic IBTC Stockbrokers traded 4.7 billion units of shares over the course of the period and this contributed 5.57 per cent to the overall volume of shares traded in the period. Rencap traded 4.5 billion units of shares to stand in the fifth position, accounting for 5.34 per cent of the total volume of shares.
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Other stockbrokers that made the list include: CSL Stockbrokers Ltd (3.9 billion units), Meristem Stockbrokers Ltd (2.9 billion units), Chapel Hill Denham Securities Ltd (1.9 billion units), Coronation Securities Ltd (1.8 billion units), and APEL Asset Ltd (1.8 billion units.)
