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Despite the slow momentum witnessed on the Nigerian Stock Exchange (NSE) in the second quarter of this year, the top 10 stockbroking firms in terms of volume and value still have a cause to smile.

The top 10 stockbroking firms accounted for 51.06% (4.7 billion shares) of the total volume of stocks traded on the NSE in July and 67.84% (N78.02 billion) of the total value of traded shares.

Basically, the NSE traded 9.3 billion shares in the month which amounted to over N115 billion in value.

The top 10 stockbrokers by value

  • Rencap Securities (NIG) limited tops the list. It traded the largest amount of shares of N17.7 billion or 15.5% of the total value traded in July.
  • CSl Stockbrokers Limited is next on the list with N12.13 billion or 10.6% of the total value traded.
  • EFG Hermes Nig. Limited traded N10.3 billion ( 8.9%) worth of shares.
  • Stanbic IBTC Stockbrokers Limited pulled shares worth N9.1 billion or 7.9% of total traded shares.
  • Tellimer Capital Limited traded shares worth N6.8 billion, representing 5.9% of the total value traded for the month.
  • Other firms that made the list include Chapel Hill Denham Securities Limited (N5.3 billion), Nigerian International Securities LTD (N4.7 billion), FBN Quest Securities Limited (N4.4 billion), FSDH Securities Limited (N4.1 billion) and Meristem Stockbrokers Limited with N3.5 billion shares.

[READ MORE: 4 ways President Buhari can lift the capital market in his second term]

The top 10 stockbrokers by volume

  • CSL Stockbrokers Limited tops the list 73 million shares traded in July, thereby accounting for 8.3% to the total volume traded.
  • Rencap Securities (NIG) limited takes the second place with 604.6 million shares traded, representing 6.5% to the total volume traded in the month.
  • EFG HERMES NIG. Limited maintains third both by volume and value of traded shares. EFG traded 603.8 million shares in the month, representing 6.47% of the total volume traded on the NSE.
  • Chapel Hill Denham Securities Limited traded 566.9 million shares, which accounted for 6.1% of the total volume traded.
  • Stanbic IBTC Stockbrokers Limited ranks 5th and traded 457 million shares or 4.9% of the total volume traded in the month of July.
  • Other firms who made the list include Equity Capital Solutions Limited (436.8 million), Morgan Capital Securities Limited (415.8 million), Cardinal Stone Securities limited (323.8 million), Apel Asset Limited (309.4 million) and GTI Securities Limited with 275.9 million shares.

About the NSE: The Nigerian Stock Exchange (NSE) was established in 1960 as the Lagos Stock Exchange. In 1977, its name was changed from the Lagos Stock Exchange to the Nigerian Stock Exchange. As of July 31, 2019, it had 170 listed companies with a total market capitalization of over ₦13 trillion. All listings are included in the Nigerian Stock Exchange All Shares index.

[READ FURTHER: First Aluminium finally delists shares from NSE]


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