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These were the top 10 stockbrokers on the NSE in 2018

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Financial statements

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

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.

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Rencap Securities

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

Rencap Securities Limited moves up this time with N290 billion or 12.07% of value traded.

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CSL Securities

CSL Securities Limited also takes the third place with N238 billion worth of shares traded.

EFCP Limited

EFCP Limited takes the fourth place with N218 billion or 9.09% of total value traded.

FBNQuest

FBNQuest Securities rounds up the top 5 with N123 billion or 5.14% of total value traded on the NSE.

2017 flashback 

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.

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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.

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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.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via [email protected]

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Company Results

Trans-Nationwide Express Plc suffers N79 million loss in Q3 2020

Trans-Nationwide Express Plc has recorded a loss that amounts to the tune of N79 million in Q3, 2020.

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Trans-Nationwide Express Plc, Trans-Nationwide Express Plc appoints new Managing Director 

Trans-Nationwide Express Plc, a logistics and courier service company in Lagos, Nigeria, suffered N79 million loss in the third quarter of 2020.

This disclosure was based on the Q3 2020 financials sent to the Nigerian Stock Exchange on Wednesday.

READ: NIPOST’s new charges could have ruined the e-commerce/logistics industry

Breakdown

  • Revenue declined by 7.5% Year-on-Year, from N548.3 million as of the corresponding period last year to N507.17 million this year.
  • The dip was largely due to a decline in revenue from courier services, which contributed about 54.1% of the total revenue as of Q3, 2020.
  • The revenue from courier services declined from N326.44 million to N274.40 million for the period under view.
  • On the contrary, other revenue churning segments like Freight income, logistics income, internal mailing income, and warehouse all recorded a positive outlook, as they all grew viz-a-viz last year’s figures.
  • Gross profit declined by 7.1% from N321.23 million to N298.40 million in the period under view.
  • Administrative expenses increased by 17.5% from N321.0 million to N377.1 million within the period under view.
  • Cash received from customers recorded a dip from N542.28 million to N523.07 million, indicating a slip of about 3.5%.

READ: BRT owners, Primero says they lost N100 million to #ENDSARS violence

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What this means

The pandemic affected several businesses and sectors, the transportation and logistics sectors were not exempted. The loss might have been largely due to the period of economic inactivity, due to embargo on inter-state and international travels.

The high cost of maintenance, coupled with little or no revenue in those periods also played a major part.

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READ: PZ incurs N1 billion in exchange rate loss 

READ: Lafarge Africa Plc: Increase in cement sales boosts revenues

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Stock Market

Nigerian stocks on steroids, investors on hat trick

Market breadth closed positive as NESTLE led 41 Gainers as against 5 Losers topped by ROYALEX.

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Closed Period

Nigerian bourse continued its impressive run for 3 days amid many odds weighing other financial markets.

  • The All Share Index gained by +1.58% to close at 29,437.60 points, as against +0.70% appreciation recorded on Tuesday. Nigerian Stock Exchange market capitalization now stands at N15.4 trillion.
  • Its Year-to-Date (YTD) returns currently stands at +9.67%.
  • That said, Nigerian bourse trading turnover dropped by 2.68%, as against the 13.14% gain recorded on Tuesday. ZENITHBANK , FIDELITYBK, and ETI were the most active to boost market turnover.
  • Market breadth closed positive as NESTLE led 41 Gainers, as against 5 Losers topped by ROYALEX at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. NESTLE up 10.00% to close at N1292.5
  2. CONOIL up 9.80% to close at N19.05
  3. FLOURMILL up 6.42% to close at N28.2
  4. TOTAL up 5.97% to close at N118.9
  5. DANGCEM up 2.17% to close at N155.3

Top Losers

  1. ROYALEX down 8.00% to close at N0.23
  2. CUTIX down 6.84% to close at N1.77
  3. HONYFLOUR down 1.03% to close at N0.96
  4. AFRIPRUD down 0.85% to close at N5.85
  5. MAYBAKER down 0.33% to close at N3.05

Outlook
Nigerian Stocks got fired up amid falling oil prices and the U.S dollar gained strongly at the mid-week trading session.

  • Buying pressure was significantly seen across leading NSE 30 Stocks like Dangote Cement, Nestle, and not forgetting Total which recently declared a profit after tax of N500million in Q3 thereby beating market analysts forecasts.
  • Nairametrics, however, envisages cautious buying as the COVID-19 crisis seems to be getting out of hand in Nigeria’s key international markets that include Western Europe and the United States.

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Currencies

Currency traders seek refuge in U.S dollar

The dollar has gained traction of late on the bias that the COVID-19 virus seems to be going out of hand.

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The US dollar remains king, U.S dollar gains against major currencies, America threatens China with sanctions., U.S dollar slumps against major currencies, investors become optimistic about global demand, U.S Dollar Stands Firm, Foreign Exchange Traders Remain Neutral 

Currency traders at mid-week trading session increased their buying pressure on the safe-haven currency greenback, as they turned away in masses from riskier fiat currencies. This is so, given the prevailing geopolitical uncertainty surrounding the COVID-19 pandemic – particularly in Europe, and coupled with sentiments surrounding the very close U.S presidential election.

READ: Gold prices under pressure, U.S dollar ticks up

READ: World Bank puts pressure on Nigeria for more forex reforms to aid recovery

What you should know

  • At the time of writing, the U.S. Dollar Index, which tracks the greenback against a basket of six global currencies, gained 0.5%.
  • Also at the time of writing EUR/USD was down 0.4% at 1.1749, falling for the third consecutive trading day.

READ: Large BTC entity transfers over $100 million worth of Crypto

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The dollar has gained traction of late on the bias that the COVID-19 virus seems to be going out of hand; thereby, leading traders to increase their long bets on the U.S dollar – as the virus spreads in key markets, in places like Europe and the United States. This has fanned concerns that pre- COVID-19 economic growth is not happening anytime soon.

Explore Data on the Nairametrics Research Website

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