The Nigeria Stock Exchange (NSE) endured a very bearish performance in the first quarter of 2020. The All-Share Index slumped by 20.6% during the first three months of the year, having moved from 26,842.07 basis points to 21,300.47 points as of March 31st, 2020. The equities cap also dipped by over N3 trillion due to bearish trades.
Despite the bearish market, the top ten stockbroking firms in Nigeria traded a total of N391.9 billion worth of shares between January and March 2020. This is according to the quarterly Broker Performance Report which was recently released by the Nigerian Stock Exchange (NSE).
The report also shows that the top ten stockbroking firms accounted for 47.6% (23.6 billion shares) of the total volume of stocks traded on the NSE, and 62.45% (N391.86 billion) of the total value of traded shares in the first quarter of 2020.
[READ: Top 10 stockbroking firms on the NSE as of August 2019]
Here are the top ten stockbrokers by value
- Stanbic IBTC Stockbroker Ltd was on top of the list with dealings on stocks valued at N93.25 billion, accounting for 14.86% of the total value of shares traded during the period.
- EFG Hermes Nig. Ltd followed with transactions worth N78.28 billion. This represents 12.48% of the total value of shares traded.
- Rencap Securities Nigeria Ltd took the third spot on the list with stock transactions worth N58.34 billion. This represents a 9.3% contribution to the total value of shares traded in the first quarter.
- CSl Stockbrokers, whose transactions in the period were totaled at N38.41 billion, stood in the fourth position having accounted for 5.8% of the total value.
- Cardinal Stone Securities transacted in shares valued at N26.53 billion, thereby representing a 4.23% of the total traded shares during the period under review.
- Other stockbroking firms that contributed to the N391.9 billion include Tellimer Capital Limited (N24.37 billion), Chapel Hill Denham Securities (N24.02 billion), ARM Securities (N17.72 billion), Cordros Securities (N16.75 billion), and Meristem Stockbrokers Limited (16.17 billion).
Top 10 Stockbrokers by volume of shares traded
- EFG Hermes Nig. Ltd stood on top of the list, having traded some 4.22 billion units of shares, thereby accounting for 8.51% of the total shares traded in the period under review.
- Cardinal Stone Securities followed with trades of 3.32 billion units of shares, which represents 6.7% of the total units traded in the first quarter of the year.
- Stanbic IBTC Stockbrokers recorded total trades of 3.09 billion shares, accounting for 6.24% of the total units traded.
[READ: Top 10 stockbroking firms trade N1.35 trillion on stocks in 2019]
- Rencap Securities Nigeria Ltd traded 2.94 billion units of shares to stand in the fourth position, accounting for 5.93% of the total.
- CSL Stockbrokers traded 2.24 billion units of shares which represents 4.52% of the total units traded between January and March 2020.
- Other stockbrokers that made the list include; Morgan Capital Securities (1.96 billion shares), Coronation Securities (1.54 billion shares), Chapel Hill Denham Securities (1.49 billion shares), Mainstreet Bank Securities (1.45 billion shares) and Meristem Stockbrokers rounded off the list with trades in 1.34 billion units of shares.
In the top ten stockbrokers by value list, I guess it should be CSL and not CSI