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Top 10 stockbrokers trade a total of N597.4 billion in H1 2020 despite COVID-19 Pandemic 

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NSE, IFC to Host Virtual Seminar on the Impact of COVID-19 on Women in the Workplace

Despite the economic impact of the Covid-19 pandemic, the top ten stockbroking firms in Nigeria traded a total of N597.4 billion worth of shares between January and June 2020. 

The top ten stockbroking firms in Nigeria according to the Broker Performance Report released by the Nigerian Stock Exchange (NSE), traded a total of N597.4 billion and a total volume of 39.6 billion units of shares over the period of January to June. 

The report also revealed that the top ten stockbrokingfirmsaccountedfor 59.31of the total value of shares traded year to date and 47.22% of the total volume of shares traded on the NSE in the same period.  

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

Top 10 Stockbrokers by Value 

  • Stanbic IBTC Stockbrokers Ltd.Top on the list with the most value of stocks traded is Stanbic IBTC Stockbrokers Ltd with a value of N128.3 billion, accounting for 12.73% of the total value of shares traded during the period. 
  • EFG Hermes Nig. Ltd.Next on the list is EFG Hermes having transactions to the value of N118.5 billion, thereby representing 11.77% of the total value of shares traded.  
  • Rencap Securities Nigeria Ltd.: Rencap took the third spot with the value of its transactions to the tune of N82.2 billion, making an 8.16% contribution to the total value of shares traded over the course of the period. 
  • CSL Stockbrokers Ltd.: The total value of transactions made by CSL Stockbrokers stood at N63.5 billion and this accounted for 6.30% of the total value of shares traded in the period. 
  • Cardinal Stone Securities Ltd.: Cardinal Stone Securities transacted in shares valued at N50.5 billion as well, representing a 5.02% of the total traded shares during the period under review. 

READ MORE: NSE: Bears reign continues as ASI shed 4.91% on Tuesday

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Other stockbroking firms that made the top ten list include Chapel Hill Denham Securities (N34.2 billion), Tellimer Capital Limited (N33.5 billion), Cordros Securities (N31.4 billion), Meristem Stockbrokers Limited (N28.9 billion) and FBN Quest Securities Ltd (N26.2 billion.) 

 

Top 10 Stockbrokers by Volume of shares traded 

  • Cardinal Stone Securities Ltd.: Cardinal Stone came tops with trades of 6.2 billion units of shares which represents 7.37% of the total units traded in the first half of the year. 
  • EFG Hermes Nig. Ltd.Next on the list was EFG Hermes which traded 6.1 billion units of shares, thereby accounting for 7.28% of the total shares traded in the period under review. 
  • Morgan Capital securities Ltd.: Third on the ranking is Morgan Capital which traded 5.7 billion units of shares in the period from January to June 2020 and this came to a total contribution of 6.76%. 
  • Stanbic IBTC Stockbrokers Ltd.: Stanbic IBTC Stockbrokers traded 4.7 billion units of shares over the course of the period and this contributed 5.57% to the overall volume of shares traded in the period. 
  • Rencap Securities Nigeria Ltd.: Rencap traded 4.5 billion units of shares to stand in the fifth position, accounting for 5.34% of the total volume of shares.  

 

Other stockbrokers that made the list include: CSL Stockbrokers Ltd (3.9 billion units), Meristem Stockbrokers Ltd (2.9 billion units), Chapel Hill Denham Securities Ltd (1.9 billion units), Coronation Securities Ltd (1.8 billion units), and APEL Asset Ltd (1.8 billion units.) 

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Stock Market

AIRTEL, SEPLAT, GUINNESS record impressive gains, investors gain N134.5 billion

Market breadth closed positive as SEPLAT led 18 Gainers as against 10 Losers topped by CHAMPION

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Nigerian Stock Exchange

Nigerian Stock market ended Wednesday’s trading session on an impressive note.

The All Share Index gained 1.04% to close at 25,141.48 basis points as against -0.58% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.34%. Investors gained N134.5 billion.

Trading turnover, however, closed negative as volume moved plunged by -0.84% as against +17.84% gain recorded on Tuesday. GUARANTY, ACCESS, and ZENITHBANK were the most active to boost market turnover.

Market breadth closed positive as SEPLAT led 18 Gainers as against 10 Losers topped by CHAMPION at the end of today’s session – an improved performance when compared with the previous outlook.

AIRTELAFRI leads the list of active stocks that recorded an impressive volume spike at the end of today’s session.

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Top gainers

  • SEPLAT up 10.00% to close at N385
  • AIRTELAFRI up 9.20% to close at N380
  • PRESCO up 7.29% to close at N51.5
  • GUINNESS up 6.21% to close at N15.4
  • OKOMUOIL up 3.90% to close at N80

Top losers

  • CHAMPION down 9.30% to close at N0.78
  • ACCESS down 2.29% to close at N6.4
  • BUACEMENT down 0.64% to close at N38.7
  • ETI down 1.20%to close at N4.1
  • ZENITHBANK down 0.59% to close at N16.75

 

Outlook

Nigerian bourse rallied up on Wednesday as blue-chip stocks that include GUINNESS, AIRTELAFRI, turned the All-Share index green, coupled with soaring crude oil prices triggered oil stocks like SEPLAT to appreciate in value. Nairametrics envisages you seek the advise of a certified financial advisor on buying stocks.

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Stock Market

U.S Stocks set to surge higher, on hopes of a stimulus package deal

The massive price increase in recent weeks has lured many speculators into profit-taking.

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U.S Stocks set to surge higher, on hopes of a stimulus package deal

U.S stocks seem set to surge higher, rebounding after Tuesday’s trading losses as stock traders still remain optimistic about a stimulus package from U.S Congress.

Checks by Nairametrics revealed that the US 500 Stock Futures was up 0.7%. Also, the Dow Jones Index Futures contract gained by 0.9%, just as the Nasdaq 100 Futures rose by 0.9% as at the time this report was drafted.

At the close of Tuesday’s trading session, the Dow Jones Industrial Average lost 0.4%. Also, the S&P 500 index lost 0.8%, registering its first decline in eight sessions, even as the NASDAQ Composite index lost 1.7%.

Although negotiations between the Democrats and Republicans in Washington DC are currently on hold, most stock traders remain hopeful and expect Congress to find a compromise.

READ ALSO: XRP plunges more than 10%, biggest daily percentage drop since March 12

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In the meantime, investors have been mindful of the increasing tensions between the US and China. So far, Beijing has refrained from tough countermeasures and struck a more conciliatory note.

As investors increase their bets in risker assets like equities Milan Cutkovic, Market Analyst at AxiCorp in a note told Nairametrics, why stock traders seems to be bullish. He said;

While equity markets have remained relatively stable, volatility in precious metals has increased sharply. Gold has lost more than $200 in value since Friday and remains under pressure.

READ ALSO: NLC hastens House of Reps to criminalise casualization of workers

The massive price increase in recent weeks has lured many speculators into profit-taking.

Furthermore, stock markets are rising again, decreasing the demand for safe havens, while the US Dollar is recovering from its recent sell-off.

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Quick fact: The NYSE, commonly referred to as the New York Stock Exchange, is the biggest stock exchange in the world, with a market capitalization of over $25 trillion as of April 2020. It is followed by the following top three exchanges – the NASDAQ, London Stock Exchange, and the Tokyo Stock Exchange. Interestingly, their combined market capitalization size is still lower than that of the NYSE.

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Stock Market

DANGOTE CEMENT, GUINNESS drops lower, as investors lose N75.07 billion

Nigerian bourse recorded its second trading loss for the week.

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The Nigerian Stock Exchange on Tuesday closed bearish. The All Share Index dropped by 0.58% to close at 24,883.70 basis points as against -0.06% drop recorded on Monday.

Its Year-to-Date (YTD) returns currently stands at -7.30%. Nigerian bourse’s market capitalization presently stands at N12,981 trillion. Investors’ losses recorded today stood at N75.07 billion.

Trading volume turnover closed positive as volume moved up by +17.84% as against +4.90% uptick recorded in the previous session. ACCESS, FIDELITYBK, and GUARANTY were the most active to boost market turnover.

Market breadth closed negative as CADBURY led 16 Gainers as against 17 Losers topped by PRESTIGE.

READ: How Nike rejection birthed sportswear industry in Nigeria

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Top gainers

  • CADBURY up 6.82% to close at N7.05
  • NB up 6.25% to close at N34
  • ARDOVA up 4.94% to close at N12.75
  • VALUEFUND up 1.37% to close at N115.05
  • GUARANTY up 1.02% to close at N24.8

Top losers

  • IKEJAHOTEL down 9.82% to close at N1.01
  • MANSARD down 8.23% to close at N1.45
  • DANGCEM down 4.09% to close at N136
  • GUINNESS down 3.33% to close at N14.5
  • UCAP down 3.09% to close at N3.14

Outlook

Nigerian bourse recorded its second trading loss for the week, triggered by high selling pressures notable in DANGCEM and GUINNESS.

Nairametrics, however, recommend you seek the counsel of a certified financial advisor when buying stocks.

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