Despite the slow momentum maintained on the Nigerian Stock Exchange (NSE) into the third quarter of the year 2019, the top 10 stockbroking firms in terms of volume and value still have cause to smile.
Basically, the Nigerian equity market, as measured by All-Share Index depreciated by 12.42% as at the end of August 2019.
The top 10 stockbroking firms accounted for 63.79% (6.52 billion shares) of the total volume of stocks traded on the NSE in August 2019 and 74.33% (N92.29 billion) of the total value of traded shares.
The top 10 stockbrokers by value
- Rencap Securities (NIG) limited tops the list. On the Exchange, the firm traded the largest volume of shares to the tune of N22.7 billion or 18.31% of the total value traded in August.
- Stanbic IBTC Stockbrokers Limited pulled shares worth N20.6 billion or 16.90% of total traded shares.
- EFG Hermes Nig. Limited traded N12.4 billion (10.05%) worth of shares.
- Chapel Hill Denham Securities Limited N8.5 billion representing 6.85% of total share value traded.
- CSL Stockbrokers Limited is next on the list with N6.4 billion or 5.35% of the total value traded.
- FBN Quest Securities Limited traded shares worth N4.4 billion, representing 4.54% of total value traded.
- Other firms that made the list include Cardinal Stone Securities Limited (4.88 billion), Tellimer Capital Limited (N4.03 billion), Meristem Stockbrokers Limited with N2.5 billion shares and Nigerian International Securities LTD (N3.21 billion)
[Read Also: LIST OF STOCKBROKERS IN NIGERIA]
The top 10 stockbrokers by volume
- TrustBanc Capital Management Limited tops the list with 1.10 billion shares traded in August 2019, thereby accounting for 10.79.3% of the total share volume traded.
- Stanbic IBTC Stockbrokers Limited ranks 2nd and traded 1.07 billion shares or 10.50% of the total volume traded.
- Apel Asset Limited –BRD takes the third place with an estimated share traded volume of 939 million or 9.17%.
- Rencap Securities (NIG) limited takes the 4th place with 714.9 million shares traded, representing 6.99% to the total volume traded in the month.
- EFG HERMES NIG. Limited traded 603.8 million shares during the month, representing 6.50% of the total volume traded on the NSE.
- CSl Stockbrokers Limited is next on the list with N444.1 million or 4.34% of the total value traded.
- Chapel Hill Denham Securities Limited traded 441.1 million shares, which accounted for 6.1% of the total volume traded.
- Other firms that made the list include FBN Quest Security Limited (396.8 million shares), Nigerian Stockbrokers Limited (381.4 million) and Cardinal Stone Securities limited with 365.5 million traded volume of 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 August 31, 2019, it had 170 listed companies with the All-Share Index and Market Capitalization closing at 27,525.81 and N13.391 trillion respectively.
[READ ALSO: Nigeria Weekly Update: Market interest rates back up]
Meristem features Nike Okundaye in Campaign titled “The Journey”, highlights the importance for partners
Meristem taps into Okundaye’s creative energy, highlighting the shared story of growth and collaboration.
It has been a long journey for financial services provider, Meristem Nigeria, having started out as a boutique stockbroking firm over 16 years ago and morphing into a capital market conglomerate offering an array of diversified service and product offerings. The tale is similar for the art and culture doyen, Nike Okundaye-Davies whose humble beginning in traditional weaving and dying practice annealed her to the art world and art lovers.
At a graceful age of 70, she has achieved over 102 solo art exhibitions, 36 group art exhibitions, a permanent display of two of her works in the Smithsonian National Museum of African Art, a Harvard recognition and many other global acclaims. With four (4) art galleries spread across the country, and the Lagos center being the biggest art gallery in West Africa, she once told a Forbes journalist that her dreams are driven by careful financial planning as she reinvests at least two-thirds of her income in her business and art centers.
Meristem taps into her creative energy in this campaign, highlighting the shared story of growth and collaboration for both institutions, and the need to onboard the right partners to achieve long term financial goals and investment security.
Meristem, a capital market conglomerate and diversified financial services provider offering stockbroking, wealth management, asset management, trustee services and financial advisory. Over the past 16 years, Meristem has been consistent in value creation and innovation within the capital market space. The Nigerian stock exchange awarded Meristem as the best digital broker of the year. In 2018 also, Meristem became the first Nigerian asset management firm to attain compliance with the Global Investment Performance Standards (GIPS) by the CFA Institute. In 2017, Meristem handled the single largest trade in the history of the Nigerian Stock Exchange.
Shell considers relocating its headquarters to the UK
Royal Dutch Shell has consistently pushed for the Dutch Government to stop taxes on dividends.
Oil and gas giant, the Royal Dutch Shell, is considering moving its corporate headquarters from The Netherlands to Britain. This could be a move against the implementation of dividend tax in The Netherlands.
The move was disclosed by the oil company’s Chief Executive Officer, Ben Van Beurden, during an interview with a Dutch newspaper on Saturday, July 4, 2020. According to him, the oil giant is not ruling out relocating its headquarters from the Netherlands to Britain. He said:
“You always need to keep thinking. Nothing is permanent and of course we will look at the business climate. But moving your headquarters is not a trivial measure. You cannot think too lightly about that.”
Further confirming the Chief Executive Officer’s comment, a Shell spokesman told Reuters that the oil giant is looking at ways to simplify its dual structure, as it had been doing for many years.
Royal Dutch Shell has consistently pushed for the Dutch Government to stop the tax on dividend paid to shareholders, as this makes financing dividend, share buy-backs and acquisition a lot more difficult.
An earlier attempt by the Dutch Government to stop the dividend tax as an incentive to convince Unilever to unify its dual structure in Rotterdam, was met with an outcry by the public, who see that as a gift to rich foreigners.
It can be recalled that Shell had announced a few days ago that it might likely write down between $15 billion-$22 billion in post impairment charges for the second quarter of 2020. The impairment, which is its largest since the merger with Shell Transport and Trading Company Ltd in 2005, shows the huge adverse impact that the coronavirus pandemic has had on the oil giant’s businesses.
Also, in a move that shocked investors, Shell for the first time since the Second World War, cut down the dividend that it paid to its shareholders by two-thirds due to the negative impact of the pandemic. The decision came as a surprise to many including shareholders of the oil company which is by far the biggest payer of dividend in the FTSE 100.
Governor David Umahi of Ebonyi tests positive for COVID-19
Umahi has directed those who worked in the budget review for 2020 to immediately test for COVID-19.
The Governor of Ebonyi State, David Umahi has tested positive for COVID-19, reported on Saturday afternoon.
Umahi’s Special Assistant on Media, Mr. Francis Nwaze, confirmed the news and also revealed that some associates of the governor also tested positive.
He also said that the Governor is not showing any symptoms of the disease, though he has isolated himself in line with the NCDC protocols.
“The governor has directed his Deputy, Dr Kelechi, to coordinate the state’s fight against the disease and appealed to the citizens to take the NCDC protocols seriously.
“He will currently be working from ‘home’ and will be conducting all meetings virtually,” Nwaze added.
David Umahi becomes the sixth Nigerian governor to test positive for the disease, Governors of Kaduna, El- Rufai, Bauchi, Bala Mohammed and Oyo, Seyi Makinde have fully recovered while the recent cases have been the Governors of Ondo, Rotimi Akeredolu and Delta, Ifeanyi Okowa.
On Thursday, Governor Umahi announced that the state’s Executive Council was finalizing the budget review required by World Bank and said “most us broke down and are being treated of malaria.”
Download the Nairametrics News App
He also directed those who worked in the budget review for 2020 to immediately test for COVID-19 and admitted he is expecting a second test result after he initially tested negative in March.