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Top 10 Stockbrokers trade N391.9 billion in Q1 2020 despite bearish market

Despite bearish market, the top ten stockbroking firms in Nigeria traded a total of N391.9 billion worth of shares between January and March 2020.

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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]

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  • 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.

1 Comment

1 Comment

  1. Docjuli

    April 4, 2020 at 6:12 am

    In the top ten stockbrokers by value list, I guess it should be CSL and not CSI

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ENDSARS

#EndSARS: Lagos State needs N1 trillion to rebuild losses – Gbajabiamila

Gbajabiamila has said that the Lagos State Governor told him that the state would need N1 trillion for the reconstruction of destroyed assets.

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Closing of Nigerian-owned shops in Ghana must be dealt with decisively - Femi Gbajabiamila, Lagos State needs N1 trillion for reconstruction - Femi Gbajabiamila

The Speaker of the House of Representatives, Femi Gbajabiamila has disclosed that Lagos State will need about N1 trillion for the reconstruction and repair of the properties and infrastructure that was vandalized and destroyed by hoodlums.

Gbajabiamila disclosed this while responding to questions from State House Correspondents after the assessment visitation of some of the properties that were destroyed during the protest.

What you should know

The #EndSARS protest which started as a peaceful demonstration by thousands of youths, degenerated into chaos after the protests were hijacked by hoodlums. The distasteful actions of hoodlums and arsonists have seen properties worth billions of naira vandalized, destroyed and razed down.

One of the consequences of these events was reported by Nairametrics as the Lagos State Government revealed that 27 of the burnt Bus Rapid Transit (BRT) vehicles in the Oyingbo and Ojodu Berger areas of the state cost $200,000 each, while 57 of them cost $100,000 each, which gives a total of N3.9 billion.

(READ MORE: Lagos to support owners of looted, vandalised stores)

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What they are saying

According to information gathered by The Punch, the Speaker said, “The House of Representatives will do all it can to compensate all those who suffered brutality, including policemen that lost their lives in the process.

“However, we want to know what exactly happened at the Lekki Toll Gate. The judicial panel must reveal this. However, I want to encourage Nigerians to allow peace to reign.

“I learnt from the governor of Lagos State that it will take N1trn to rebuild what had been lost and asked him what’s the budget size of the state, he said about N1trn. You can see we are moving backwards.

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“Hence, we must consider the consequences of our actions before embarking on any venture. I, therefore, appeal to the youth to allow peace to reign henceforth. I still believe in the unity of Nigeria.

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ENDSARS

#EndSARS: NBC fines AIT, Channels and Arise TV over use of “unverifiable” footages

The NBC has sanctioned three major Nigerian television stations over their reportage of recent unrest across the country.

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NBC slams N5 million fine on Nigeria Info over Mailafia's inciting comments

The National Broadcasting Commission, NBC, has fined Nigerian media houses including AIT, Channels TV and Arise News, claiming they used unverifiable video footages from social media to cover the #EndSARS protests.

This was disclosed in a report by AIT on Monday afternoon. According to media reports, the regulators imposed various fines on Arise TV, African Independent Television (AIT) and Channels Television between N2million and N3million.

“The National Broadcasting Commission has sanctioned Africa Independent Television, AIT, Arise TV and Channels for what it calls, a gross violation of the broadcast code, top of which is the use of unverifiable online video footages on the social media,” AIT said.

The Acting Director-General of the commission, Armstrong Idachaba, warned that further sanctions will be harsher and announced that the owners of AIT, DAAR Communications would be fined separately for alleged reports of a fire incident at the National Christian Centre.

The sanction according to Idachaba, will be a fine of not less than N2 million.

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The NBC had warned last week that broadcasters must “perform the role of a peace agent by adhering to the principle of responsibility, accuracy and neutrality” in reporting the protests.

More details later..

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Economy & Politics

Why Okonjo-Iweala should win the WTO DG role – Prof. Moghalu

Professor Kingsley Moghalu has thrown support behind Dr. Ngozi Okonjo-Iweala to win the World Trade Organization top job.

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Why Okonjo-Iweala should win the WTO DG role- Prof. Moghalu

A former Deputy Governor of the Central Bank of Nigeria, Professor Kingsley Moghalu, has publicly canvassed support for Dr. Ngozi Okonjo Iweala to win the World Trade Organization (WTO) top job.

The former professor of public policy at Fletcher School, Tufts University, made the disclosure via his official Twitter handle, as seen by Nairametrics

Prof. Moghalu made a strong case for why Africa’s candidate should be considered for the top shot, noting that the need for Africa to get a better deal in the world trading system should be a major criterion in selecting the next WTO DG. He also believed that correcting this negatively skewed trade deal will help tackle poverty and underdevelopment in Africa.

What you should know

Nairametrics had earlier reported that Nigeria’s Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee have emerged as the last two candidates for the top WTO job.

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Prof. Moghalu also disclosed that the final selection decision is expected this week or very early next week.

(READ MORE:WTO DG: Okonjo-Iweala gets the backing of 79 countries so far)

Prof. Moghalu said, “The dynamics of world trade are rigged against Africa, keeping the continent poor and undeveloped. In this piece for Project Syndicate @ProSyn, I make a strong case for why Africa’s candidate, @NOIweala, should be selected as the next Director-General of @wto.

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“The final selection decision is expected this week or very early next. Alongside the case for why the African candidate Okonjo-Iweala is best placed to lead WTO, I make the case for the continent more broadly as to how and why it must get a better deal in the world trading system.”

What this means

If finally selected for the top job, the opportunity will present Dr. Okonjo the platform to solve some global trade-related issues, one of which is Africa’s trade position with the rest of the world.

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