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Markets

Top 10 Stockbroking firms trade shares worth N138.1 billion in January 

The Nigerian Stock Exchange (NSE) enjoyed a bullish start in January 2020 as the all-share index closed at 28,843.53 index points.

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Ecobank, Nigerian Stock Exchange, Beta Glass, Forte Oil, Transcorp lead gainers chart on Wednesday, Law Union, AIICO, Honeywell top gainers’ chart on Wednesday, Investors lose N9.14 billion to bearish trades on Wednesday , Dangote, Cadbury, Flourmills regains bullish momentum run at Nigeria’s Stock Market, AIRTEL, NESTLE, NB lead the Bulls a home win, Investors party with N106.3 Billion 

Nigerian Stock Exchange (NSE) enjoyed a bullish start in January 2020, as the all-share index closed at 28,843.53 index points, 7.46% increase compared to 26,842.07 recorded on 31st December 2019.

The top ten stockbroking firms traded on stocks worth N138.1 billion, accounting for 58.8% of the total value of shares traded in the month. This is according to the Broker Performance Report for the month ended 31st January 2020.

Also, the report showed that the top ten stockbrokers on the stock exchange accounted for 49.15% of the total unit of shares transacted in the month, trading 8.29 billion units.

Stockbrokers by value

  • Stanbic IBTC is top on the list with trades worth N35.76 billion representing 15.24% of the total value.
  • EFG Hermes Nigeria Limited followed with transactions worth N20.76 billion. 8.82% of the total value of transactions.
  • Rencap Securities traded in stocks worth N18.49 billion, accounting for 7.88% of the total value.
  • Chapel Hill made transactions worth N12.54 billion (5.34%) to rank fourth on the list.
  • CSL Stockbrokers Limited transacted in stocks valued at N11.82 billion.
  • While other stockbrokers like Cardinalstone Securities, Tellimer Capital, Imperial Asset Managers, Meristem Stockbrokers and Coronation Securities (in the order listed above), pulled transactions valued at N9.43 billion, N8.12 billion, N7.76 billion, N7.06 billion and N6.41 billion.

Top 10 Stockbroking firms traded on stocks worth N138.1 billion in January 

[READ MORE: Top 10 stockbroking firms trade N1.35 trillion on stocks in 2019)

Stockbrokers by volume of shares 

  • Mainstreet Bank Securities topped the list with 1.41 billion units of shares, representing 8.38% of the total volume of shares sold during the month.
  • Cardinalstone Securities came second with 1.04 billion units of shares representing 6.16%.
  • Coronation Securities followed with 851.95 million units of shares which accounted for 5.05% of the total.
  • CSL Stockbrokers ranked fourth with transactions in 794.49 million units of shares. 4.71% of the total unit of shares traded in January.
  • Morgan Capital Securities pulled transactions in 792.33 million units of shares to rank fifth.
  •  EFG Hermes; Chapel Hill Denham; Edgefield Capital Management; Rencap Securities and Stanbic IBTC Stockbrokers. They all transacted in 763.48 million shares, 751.73 million shares, 716.41 million shares, 613.55 million shares and 559.32 million shares respectively.

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Markets

Nigerian stock market soars as UNITYBNK and JAPAULGOLD plummet

The All-Share Index increased by +0.29% to close at 39,312.74 from 39,198.75.

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

The Nigerian stock market maintained a bullish recovery as the trading session began this week. This surge was bolstered by gains made by UBN and AFRIPRUD amongst others. The All-Share Index increased by +0.29% to close at 39,312.74 from 39,198.75.

  • The Nigerian stock exchange market value currently stands at N20.44 trillion. Its Year-to-Date (YTD) returns currently stand at -2.38%.
  • The market breadth closed positive with the bulls as REGALINS led 28 Gainers and UNITYBNK topped the chart of 15 Losers showing a hint of consolation.

Top gainers

1. REGALINS up +9.68% to close at N0.34

2. ABCTRANS up +9.68% to close at N0.34

3. UBN up +9.26% to close at N5.90

4. LINKASSURE up +8.70% to close at N0.75

5. MBENEFIT up +8.11% to close at N0.40

Top losers

1. UNITYBNK down -8.33% to close at N0.55

2. JAPAULGOLD down -6.67% to close at N0.56

3. NEIMETH down -6.04% to close at N1.71

4. FLOURMILL down -4.84% to close at N29.50

5. NAHCO down -4.55% to close at N2.10

Outlook

The stock market maintained the recovery as Union bank and LINKASSURE made an appearance for the second consecutive time, pushing the NGX ASI upwards at the end of the trading session today.

Jaiz bank
  • Market sentiments were bullish as the NGX ASI closed with 28 Gainers and 15 Losers.
  • Nairametrics advises cautious buying in this era of growing uncertainties.

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Markets

Dow hits all-time high as energy stocks surge

The DOW gained 7.5 points, or 0.02%, to open at 34785.27 Index points.

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U.S stocks futures rebound , cryptocurrency, ExxonMobil, JP Morgan Chase, MasterCard Up by over 10%

At the opening bell, the Dow Jones Industrial Index (DOW) hit an all-time high as the commodity and energy markets are bullish.

The DOW gained 7.5 points, or 0.02%, to open at 34785.27 index points. The S&P 500 fell 4.3 points, or 0.10%, to open at 4228.29, while the Nasdaq Composite dropped 64.6 points or 0.47% to open at 13687.595.

This represents an optimism that interest rates would remain lower for longer, while a surge in commodity prices lifted shares of miners, energy and steel companies.

 

More details soon…

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