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As the Nigerian Stock Exchange (NSE) maintained a bearish trend into the last month of 2019, data showed that the top ten stockbroking firms traded N120.4 billion shares in November 2019.

The report, which was obtained from the Stock Exchange by Nairametrics, stated that the Nigerian equity market, as measured by the All-Share Index depreciated by 14.09% as at the end of November 2019.

The top 10 stockbroking firms accounted for 54.32% (7.58 billion shares) of the total volume of stocks traded on the NSE and N120.4 billion (69.31%) of the total value of traded shares in November 2019.

Kato Mukuru, Head of Frontier Research at EFG Hermes

Top 10 stockbrokers by value   

  • EFG Hermes Nig. Limited  led the pack of the leading stockbrokers. On the Exchange, the firm traded the largest volume of shares worth N27.39 billion that represents 15.76% of the total value traded in November 2019.
  • Stanbic IBTC Stockbrokers Limited pulled shares worth N22.9 billion, 13.21% of total traded shares.
  • Rencap Securities (Nig) Limited Traded N14.0 billion (8.06%) worth of shares.
  • Chapel Hill Denham Securities Limited traded N12.3 billion shares, representing 7.12% of total traded shares.
  • FBN Quest Securities Limited is next on the list with N8.38 billion, 4.82% of the total value of traded shares on the NSE.
  • Cardinalstone Securities Limited traded N8.22 billion, representing 4.73% of total share value traded.
  • Tellimer Capital Limited  traded shares worth N7.94 billion, representing 4.57% of total value traded.
  • Other firms that made the list include  Meristem Stockbrokers Limited  (N7.0 billion, 4.03%), CSL Stockbrokers Limited  (N6.47 billion)  and Coronation Securities Limited  makes the 10th on the list with N5.71 billion traded shares.

[READ MORE: These were the top 10 stockbrokers on the NSE in 2018]

Stanbic IBTC reports 2.7% increase in H1 gross earnings

 Top 10 stockbrokers by volume   

  • In terms of value, EFG Hermes Nig. Limited comes top spot with 1.48 billion worth of shares, representing 10.64% of the total value of traded shares in the month.
  • APT Securities and Funds Stockbrokers Limited ranks 2nd and traded 1.25 billion shares or 9.01% of the total volume traded.
  • Stanbic IBTC Limited traded 848.8 million shares during the quarter, representing 7.69% of the total volume traded on the NSE.
  • FBN Quest Securities Limited  is next on the list with 655.5 million or 4,70% of the total value traded.
  • Rencap Securities (Nig) Limited  ranks the 4th with 652.9 million shares traded, thereby accounting for 4.68% of the total share volume traded.
  • Cardinalstone Securities Limited an estimated share traded volume of 626.5 million or 4.49%.
  • Chapel Hill Denham Securities Limited  traded 610.9 billion shares, which accounted for 4.38% of the total volume traded.
  • Other firms that made the list include  Cordros Securities Limited  with 510.9 million traded volume of shares, Apel Asset Limited  (478.7 million shares) and  Coronation Securities Limited with 454.6 million (3.26%) traded volume of shares.

About the NSE

The Nigerian Stock Exchange 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 November 30, 2019, it had 170 listed companies with the All-Share Index and Market Capitalization closing at 27,002.15 and N13.043 trillion respectively.

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