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Spotlight Stories

Top 10 Stockbroking firms trade shares worth N112.84 billion in January 2021

The top ten stockbroking firms traded stocks worth N112.8 billion, accounting for 48.37% of the total value of shares traded in the month.

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SEPLAT, GUINNESS break Nigerian bourse support levels, investors lose N49 billion  , Nigerian Stock market records sixth consecutive loss, Investors lose N15.55 Billion,Nigerian Stock market records sixth consecutive loss, Investors lose N15.55 Billion

Nigerian Stock Exchange (NSE) enjoyed a bullish start in January 2021, as the all-share index closed at 42,412.66 index points, 5.32% increase compared to 40,270.72 points recorded as of 31st December 2020.

The top ten stockbroking firms traded stocks worth N112.8 billion, accounting for 48.37% of the total value of shares traded in the month. This is according to the Broker Performance Report for the month ended 31st January 2021.

The value of shares traded by the top firms in January 2021, represents an 18.3% decline when compared to N138.1 billion recorded in the corresponding period of 2020.

READ: NSE Exchange Traded Funds (ETF) market capitalization hits N24.51 billion


Stockbrokers by value

  • Stanbic IBTC Stockbrokers limited stands top on the list having traded on stocks valued at N21.66 billion and accounting for 9.28% of the total recorded trades. It however represents a decline of 39.4% when compared to N35.76 billion recorded in January 2020.
  • Cardinalstone Securities Limited followed with trades on stocks worth N14.89 billion representing 6.39% of the total trades.
  • Absa Securities Nigeria Limited traded in stocks worth N14.6 billion, accounting for 6.26% of the total value.
  • Rencap Securities Nigeria Limited made transactions worth N13.5 billion (5.79%) to rank fourth on the list.
  • EFG Hermes Nigeria Limited transacted in stocks valued at N11.74 billion.
  • Others on the list include; Inter State Securities (N8.58 billion), Cordros Securities (N7.21 billion), Apel Asset  (N7.17 billion), APT Securities (N7.11 billion), and Morgan Capital with N6.36 billion.

READ: Deputy Managing Director of UBA Plc purchases additional 3.22 million shares


Stockbrokers by volume of shares

  • Stanbic IBTC also topped the list with 2.58 billion units of shares, representing 9.41% of the total volume of shares traded in the month of January.
  • GTI Securities came second with 2.29 billion units of shares representing 8.35%.
  • Morgan Capital Securities followed with 2.24 billion units of shares which accounted for 8.18% of the total.
  • Inter State Securities ranked fourth with transactions in 1.52 billion units of shares. 5.56% of the total unit of shares traded in the month.
  • Atlass Portfolios Limited pulled transactions in 1.52 billion units of shares to rank fifth.
  • Others include; Meristem Stockbrokers (1.43 billion), Cardinalstone Securities (1.37 billion), APT Securities (523.1 million), CSL Stockbrokers (436 million), and FBN Quest with trades in 408.3 million units of shares.

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


What you should know

  • The All-share index of the NSE posted impressive gains in the month of January, growing by 5.32% to close at 42,412.66 points while the NSE Insurance index recorded the highest gain of 29.77%.
  • The NSE Oil and Gas index also grew by 12.43% to close at 254.31 points while the Banking index recorded positive growth of 7.89%.
  • Of all sub-indices captured by the Nigerian Stock Exchange, only the NSE Growth index recorded a decline in the month of January 2021.

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Macro-Economic News

Transport fare watch: Motorcycle “Okada” commuters paid less in January 2021

Commuters on motorcycle per drop (Okada) paid less in January 2021 than they did in December 2020.

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Transport fare for motorcycle "Okada" more than doubled in 2020, Lagos State bans Gokada, ORide, MaxNG, others from 15 local governments 

The average fare paid by commuters for journey by motorcycle per drop decreased by 11.60% month-on-month and increased by 95.22% year-on-year to N259.33 in January 2021 from N293.36 in December 2020, according to the National Bureau of Statistics (NBS) report for the month of January 2021.

According to the report, commuters in  Taraba (N400.80), Yobe (N400.15) and Rivers (N400.00) paid the highest journey fare by motorcycle per drop while commuters in Adamawa (N84.22), Katsina (N134.90) and Kebbi (N152.05) paid the lowest journey fare by motorcycle per drop.

Other key highlights

  • The average fare paid by commuters for bus journey intercity decreased by 0.25% month-on-month and increased by 39.55% year-on-year to N2,346.41 in January 2021 from N2,352.19 in December 2020.
  • Commuters in Abuja FCT (N4,482.24), Lagos (N3,300.23) and Sokoto (N3,300.00) paid the highest bus journey fare intercity while commuters in Bayelsa (N1,600.45), Bauchi (N1,640.20) and Enugu (N1,687.45) paid the lowest bus journey fare within city.
  • The average fare paid by commuters for bus journey within the city decreased by 0.66% month-on-month and increased by 74.75% year-on-year to N352.15 in January 2021 from N354.49 in December 2020.
  • Commuters in Zamfara (N600.00), Bauchi (N522.75) and Ekiti (N458.77) paid the highest bus journey fare within city while commuters in Oyo (N189.46), Abia (N205.22) and Borno (N240.79) paid the lowest bus journey fare within city.
  • The average fare paid by air passengers for specified routes single journey increased by 0.02% month-on-month and by 18.27% year-on-year to N36,463.65 in January 2021 from N36,454.59 in December 2020.
  • Passengers in Anambra (N38,600.00), Cross River/Jigawa/Lagos (N38,500.00), Bauchi (N38,400.00) paid the highest airfare while States with lowest airfare were Akwa Ibom (N32,450.00), Sokoto (N33,700.00), and Gombe (N35,000.00).
  • The average fare paid by passengers for water way passenger transport increased by 3.68% month-on-month and by 38.58% year-on-year to N786.19 in January 2021 from N758.27 in December 2020.
  • Passengers in Rivers (N2,280.00), Delta (N2,250.45) and Bayelsa (N2,200.10) paid the highest fare by water while states with lowest fare by waterway passenger transport were Borno (N245.10), Gombe (N290.77) and Kebbi (N340.00).

Why this matters

Transportation cost takes a huge portion of budget for most lower/middle-class Nigerians and as well takes not less than 20% of their take-home pay packages.

The drop in fares paid by the commuters on motorcycle per drop (Okada) is a welcome development.

Transport by motorcycle (Okada) has been popularly adopted in most cities by businessmen, government workers, and students to overcome traffic congestion, and for the advantage that it can navigate roads that are inaccessible to automobiles and buses, particularly in villages and urban slums.

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Business

Bandits kidnap students at Girls Secondary School in Zamfara State

Armed bandits have attacked and abducted students of a secondary school in Zamfara State.

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Armed bandits have kidnapped an unspecified number of students at the Girls Secondary School, Talata Mafara Local Government Area of Zamfara State.

This was disclosed by the state media agency, NTA in a statement on Friday morning.

“Armed bandits kidnapped an unspecified number of Students at Government Girls Secondary School, Jangebe in Talata Mafara Local Government Area of Zamfara State,” they said.

More details shortly…

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