As the Nigerian Stock Exchange (NSE) continues to maintain a bearish trend into the last quarter of 2019, the top ten (10) stockbroking firms recorded the largest values and volumes of stocks traded in the last three months.
Basically, the Nigerian equity market, as measured by the All-Share Index depreciated by 11.95% as at the end of September 2019 while within the quarter under review, all share index dropped by 7.65%.
The top 10 stockbroking firms accounted for 58.83% (16.12 billion shares) of the total volume of stocks traded on the NSE and 74.55% (N280.6 billion) of the total value of traded shares in the third quarter 2019 (July and September).
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 N71.85 billion or 19.09% of the total value traded in Q3 2019.
- Stanbic IBTC Stockbrokers Limited pulled shares worth N47.9 billion or 12.74% of total traded shares.
- EFG Hermes Nig. Limited traded N43.3 billion (11.49%) worth of shares.
- Tellimer Capital Limited traded N26.2 billion shares, representing 6.96% of total traded shares.
- CSL Stockbrokers Limited is next on the list with N25.07 billion or 6.66% of the total value of traded shares on the NSE.
- Chapel Hill Denham Securities Limited traded N17.3 billion representing 4.61% of total share value traded.
- FBN Quest Securities Limited traded shares worth N16.2 billion, representing 4.31% of total value traded.
- Other firms that made the list include Cardinal Stone Securities Limited (N12.7 billion or 3.38%), Nigerian International Securities LTD (N10.07 billion) and Meristem Stockbrokers Limited makes the 10th on the list with N9.89 billion traded shares.
The top 10 stockbrokers by volume
- In terms of value, Rencap Securities (NIG) limited maintains the top spot with 2.48 billion worth of shares, representing 9.06% of the total value of traded shares in the quarter.
- Stanbic IBTC Stockbrokers Limited ranks 2nd and traded 2.41 billion shares or 8.82% of the total volume traded.
- EFG HERMES NIG. Limited traded 2.10 billion shares during the quarter, representing 7.69% of the total volume traded on the NSE.
- CSL Stockbrokers Limited is next on the list with 1.70 billion or 6.21% of the total value traded.
- TrustBanc Capital Management Limited ranks the 4th with 1.49 billion shares traded, thereby accounting for 5.46% of the total share volume traded.
- Apel Asset Limited – BRDrecorded an estimated share traded volume of 1.43 billion or 5.23%.
- Chapel Hill Denham Securities Limited traded 1.41 billion shares, which accounted for 5.16% of the total volume traded.
- Other firms that made the list include Cardinal Stone Securities limited with 1.14 billion traded volume of shares, FBN Quest Security Limited (993.3 million shares) and Morgan Capital Securities Limited with 931.1 million (3.40%) 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 September 30, 2019, it had 170 listed companies with the All-Share Index and Market Capitalization closing at 27,675.04 and N13.472 trillion respectively.