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Stock Market

Value of shares traded by top 10 stockbrokers up 133% despite COVID-19

The total volume of shares also witnessed an increase of over 600 million shares.

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Value of shares traded by top 10 stockbrokers up 133% despite COVID-19, investors, Raging Bulls lift Brent Crude price by 10%

It appears that more investors are really confident in the Nigerian Stock market despite the pandemic. This is because, between July 20 and July 24, the top 10 stockbroking firms in the country traded a total volume of shares valued at N21.95 billion.

This represents 73.75% of the total value traded within the period, according to the Broker Performance Report that was released by the Nigerian Stock Exchange over the weekend.

The document also disclosed the top 10 stockbrokers by volume of shares traded within the same period. These stockbrokers traded 1.86 billion shares, which represents 68.93% of the total volume of shares traded last week.

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

What it means

The value and volume of shares traded last week are really indicative of investors’ confidence in the market. It should be noted that the value of shares traded by the top 10 stockbrokers increased from N9.42 billion in the previous week (July 13 – 17) to N21.95 billion last week. This represents an increase of 133%.

The total volume of shares also witnessed an increase of over 600 million shares, having risen from 1.26 million shares to 1.86 billion shares within the same period under review.

Top 10 Stockbrokers by Value

EFG HERMES NIG. LTD: Top on the list with the most value of stocks traded is EFG Hermes Nigeria Limited. The value is N6.10 billion, accounting for 20.5% of the total value of shares traded during the period.

Stanbic IBTC Stockbrokers Limited: Next on the list is Stanbic IBTC Stockbrokers which recorded transactions valued at N5.74 billion, thereby representing 19.28% of the total value of shares traded.

• FBNQUEST Securities Limited: FBNQuest took the third spot with the value of its transactions standing at N2.50 billion. This marked an 8.40% contribution to the total value of shares traded over the course of the period.

Meristem Stockbrokers Limited: The total value of transactions by Meristem Stockbrokers stood at N1.68 billion, accounted for 5.63% of the total value of shares traded in the period.

Cardinal Stone Securities Ltd: Cardinal Stone Securities transacted in shares valued at N1.48 billion as well, representing 4.96% of the total traded shares during the period under review.

Other stockbroking firms that made the top ten list include Cordros Securities Limited (N1.05 billion), A.R.M Securities Limited (N989.10 million), Nigerian International Securities Limited (N875.18 million), CSL Stockbrokers (N845.18 million) and Reading Investment Limited (N692.20 million.)

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

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Top 10 Stockbrokers by Volume of shares traded

• FBNQUEST Securities Limited: FBNQuest carried out total trades of 322.86 million units of shares which represents 11.95% of the total units traded in the week.

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• EFG Hermes Nig. Ltd.: Next on the list is EFG Hermes which traded 292.96 million units of shares, thereby accounting for 10.85% of the total shares traded in the period under review.

• Stanbic IBTC Stockbrokers Ltd.: Third on the ranking is Stanbic IBTC which traded 267.94 million units of shares last week and this came to a total contribution of 9.92%.

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Meristem Stockbrokers Limited: Meristem Stockbrokers traded 263.88 million units of shares over the course of the period and this contributed 9.77% to the overall volume of shares traded in the period.

READ MORE: Seplat reveals new shareholder with over 5% equity 

• Cordros Securities Limited: Cordros Securities traded 184.97 million units of shares to stand in the fifth position, accounting for 6.85% of the total volume of shares.

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Other stockbrokers that made the list include: Cardinalstone Securities Limited (121.75 million units), PSL Capital Limited (115.97 million units), Heritage Capital Ltd (100.70 million units), United Capital Securities Limited (96.17 million units), and A.R.M Securities Limited (94.56 million units.)

Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

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Stock Market

Rising bond yields hit U.S stock markets

The fear of higher U.S. bond yields undermined riskier assets like U.S stocks and other global equities.

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U.S stocks

Resurgent worries about rising U.S. bond yields hit U.S stocks heavily at its most recent trading session. global investors are currently waiting anxiously on what the most powerful monetary policymaker, Jerome Powell will say on the risk of a rapid rise in long-term borrowing costs.

The fear of higher U.S. bond yields undermined riskier assets like U.S stocks and other global equities.

Stock traders are treading cautiously on a macro that revealed the Benchmark 10-year U.S. Treasuries surged to 1.477% as investors anticipate U.S. inflation could pick up as economic recovery gathers momentum driven by government stimulus and further progress in the rollout of COVID-19 vaccines.

Stock bears took a grip on the world’s biggest and most liquid equity markets as HealthcareTechnology, and Consumer Services sectors drifted lower

  • At the close in New York Stock Exchange, the Dow Jones Industrial Average plunged by 0.39%, while the S&P 500 index lost about 1.31%, and the NASDAQ Composite index dipped by 2.70%
  • Stocks that recorded significant losses outnumbered advancing ones on the New York Stock Exchange by 1717 to 1512 and 67 ended unchanged; on the Nasdaq Stock Exchange, 2152 fell and 1175 advanced, while 57 ended unchanged.

Stephen Innes, Chief Global Market Strategist at Axi in a note to Nairametrics spoke on the rationality behind the recent sell-offs observed in U.S equity markets

Innes said, “The sell-off in global fixed income markets is revving up again, spilling over to unseat equities and other relatively heavily positioned risk-sensitive assets.

“Chicago Federal Reserve Bank, President Evans today did not push back on the rise in yields. He said he does not see a risk of inflation rising too quickly and does not think the Fed will need to change the duration of QE purchases.

“To my mind, the only thing left that might influence the Fed’s decision-making process would be whether financial conditions were to tighten or markets were deemed dysfunctional.”

What to expect: That being said, some stock market experts however share the opinion that it seems too early to raise the alarm as financial conditions seem loose, Fed intervention’s hurdle is high and will be higher always when activity and inflation data come in very strong through Q2.

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Spotlight Stories

Bears take a grip on Nigerian stocks, investors lose N92 billion

The market breadth closed negative as SEPLAT led 16 Gainers as against 29 Losers topped by JAPAULOIL at the end of today’s session

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market's, Bears clawing down on the naira, hits N425 to $1

Nigerian bourse ended the mid-week trading session on a bearish note. The All Share Index plunged by 0.44% to close at 39,697.62 index points as against the -0.59% drop observed on Tuesday its Year-to-Date (YTD) returns currently stands at -1.86%.

Investors’ losses on Wednesday stood at N91.86 billion. The Nigerian Stock Exchange market capitalization stood at N20.7 billion

The market turnover closed positive as volume moved up by +9.78% as against the -59.08% downtick recorded in the previous session. ZENITHBANK, GUARANTY, and UCAP were the most active to boost market turnover.

The market breadth closed negative as SEPLAT led 16 Gainers as against 29 Losers topped by JAPAULOIL at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. SEPLAT up 10.00% to close at N583
  2. AIICO up 5.22% to close at N1.21
  3. CORNERST up 5.17% to close at N0.61
  4. UAC-PROP up 5.00% to close at N0.84
  5. CUTIX up 4.21% to close at N2.23

Top losers

  1. JAPAULGOLD down 10.00% to close at N0.54
  2. NEM down 9.91% to close at N1.91
  3. CHAMPION down 9.76% to close at N1.85
  4. NPFMCRFBK down 9.47% to close at N1.72
  5. LINKASSURE down 8.93% to close at N0.51

Outlook

Nigerian stocks ended the mid-week trading session of the week on a negative note amid soaring oil prices prevailing at the U.S trading session.

  • Downtrend was driven by price depreciation medium and small capitalized stocks amongst which are; NEM, JAPAUL GOLD, CHAMPION.
  • Nairametrics expects intending buyers to seek the advice of certified stockbrokers.

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