Despite the Nigerian Stock Exchange (NSE) closing in the red in 2018, the top 10 stockbrokers in terms of volume and value still have cause to smile. They accounted for 46.9% (95.1 billion shares) of the total volume traded and 67.8% (N1.6 trillion) of total value traded last year.
Top 5 Stockbrokers by Volume
Stanbic IBTC Stockbrokers
Stanbic IBTC Stockbrokers Limited traded the largest amount of shares in 2018 amounting to 17 billion shares, or 8.38% of total volume traded on the Exchange.
United Capital Stockbrokers
United Capital Stockbrokers was next with 14.6 billion shares or 7.21% of total volume traded.
CSL Stockbrokers Limited takes third place with 14.2 billion shares or 7.04% of the total volume traded.
Cardinal Stone Securities
Cardinal Stone Securities Limited comes 4th with 10.8 billion shares or 5.34% of total volume traded.
Rencap Securities Nigeria Limited takes the 5th spot with 9.1 billion shares or 4.51% of total volume traded.
Top 5 stockbrokers by value
Stanbic IBTC Stockbrokers
Stanbic IBTC Stockbrokers again took the top spot with N466 billion or 19.38% of value traded last year.
Rencap Securities Limited moves up this time with N290 billion or 12.07% of value traded.
CSL Securities Limited also takes the third place with N238 billion worth of shares traded.
EFCP Limited takes the fourth place with N218 billion or 9.09% of total value traded.
FBNQuest Securities rounds up the top 5 with N123 billion or 5.14% of total value traded on the NSE.
2018 may have been a much more competitive year for the top 10 stockbrokers, as they collectively occupied a smaller slice of the entire market.
The top 10 stockbrokers in 2017 accounted for 53.2% (or 107 billion shares) of volume and 75.23% (or N1.9 trillion) of total value traded in 2017.
The top three stockbrokers by volume in 2018 were same as 2017. United Capital Securities Limited, however, dropped from first place in 2017 to second place in 2018.
In terms of value, Stanbic IBTC Stockbrokers Limited, CSL Stockbrokers Limited, and Rencap Securities Nigeria Limited maintained their top three positions back to back.
Meristem Stockbrokers Limited which took the second position in 2017, dropped out from the top 10 by value in 2018.
DMO offers N150 billion worth of FGN Bond for subscription in January 2021
The DMO has offered for subscription, FGN Bonds valued at N150 billion for January 2021.
The Debt Management Office (DMO) has announced the offer for subscription, Federal Government Bonds (FGN Bonds), valued at N150 billion for January 2021.
This is according to a notification released by the DMO and seen by Nairametrics. The latest offers come in three tranches:
- N50, 000,000,000 – 16.2884% FGN MARCH 2027 (10-Year Re-opening).
- N50, 000,000,000 – 12.50% FGN MARCH 2035 (15-Year Re-opening).
- N50, 000,000,000 – 9.80% FGN JULY 2045 (25-Year Re-opening).
Other key highlights of the recent offer
- Units of Sale: N1, 000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.
- Auction Date: January 20, 2021.
- Settlement Date: January 22, 2021.
- Interest Payment: Payable semi-annually.
What you should know
- Checks by Nairametrics revealed that the latest FGN Bond offer across three maturities is N90billion more than amount offered in the previous month (December 2020) at N60billion, indicating an increase of 150%.
- Interested investors were advised to contact offices of any of the listed 13 Primary Dealer Market Makers (PDMMs).
- The DMO reserves the right to alter the amount allotted in response to market conditions.
- FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN), issued by the Debt Management Office (DMO) for and on behalf of the Federal Government. The FGN has an obligation to pay the bondholder the principal and agreed interest as and when due.
Flour Mills Nigeria gain N28 billion on NSE in 10 trading days
Flour mills gained N28 billion on the Nigeria Stock Exchange in just ten trading sessions, as the share price rose by 26.15%.
Shares of Flour Mills Nigeria Plc, Nigeria’s leading food business company, have gained N28 billion on the Nigeria Stock Exchange, in just 10 trading days this year.
After a preview of the performance of the shares of Flour Mills, Nairametrics discovered its shares increased by 26.15% within the review period.
The increase witnessed in the company’s share price was triggered by renewed buying interests among investors for the shares of Flour Mills, on the back of its robust fundamental strength, and the impressive financial results the food and agro-allied company delivered in 2020.
Checks by Nairametrics also revealed that the company has gained N27,882,581,314.00 on the NSE so far this year. This is logical as the buying interest in the shares of the company saw the market capitalization increase from N106.61billion on the 4 January 2021, to N134.49billion at the close of trade on the exchange today.
What you should know
- The impressive valuation and the current price of the company, which some investors see as under priced given the solid fundamental strength of the company, spiked buying interest in its shares.
- Former GMD of Flour Mills, Paul Miyonmide and the Vice-Chairman of the Company, Chief Emmanuel Ukpabi, acquired additional shares of the company worth millions of naira since the company released its Q2 Financial Report on 27 October 2020.
Access Bank shares gain N44.4 billion in first 10 days of trading
Market capitalization moved from N300.36 billion as at the 4th of January, 2021 to N346.57 billion.
The shares of Access Bank Nigeria Plc have gained N44.4 billion since the commencement of trading at the Nigerian Stock Exchange (NSE) market on the 4th of January 2021 – 10 days of transaction.
This was uncovered by Nairametrics after tracking the performance of the shares of the bank on the floor of the NSE.
This is sequel to efforts by the group to further expand its territory and consolidate on its growth potentials, evident by its obtaining of regulatory approval to operate as a holding company and completion of the Cavmont Bank Limited deal, as reported by Nairametrics.
Nairametrics learnt that a combination of impressive financial performance by the group, evident by its 9M 2020 results, and the increased buying interest in its shares, all contributed to the upward movement of the bank’s market capitalization, from N300.36 billion to N344.79 billion, indicating a gain of 14.8% in the review period.
What you should know
- Access Bank Plc had earlier reported a Profit After Tax of N102.3 billion for 9M 2020, up by 15.7%
- At the time of this report, Access Bank Plc shares traded at N9.7, compared to an opening price of N8.45, indicating an increase of 14.8%.
- The outstanding shares of the firm currently stand at 35,545,225,622 units.