The Nigerian equities market ended the first half of the year bearish, due to large sell-offs in the local bourse as investors move their monies into fixed income and less volatile investments.
The All-share index of the Nigerian Exchange Group contracted by 5.87% between January and June 2021, moving from 40,270.72 points recorded as of 31st December 2020 to 37,907.28 as of 30th June 2021.
Meanwhile, the top stockbroking firms in the country must have raked in a fortune from fees and commission charges as they processed trades of 39.34 billion units of shares valued at N541.21 billion in the first half of the year.
This is according to the Broker Performance Report, released by the Nigerian Exchange Group for the half-year period of 2021.
The volume of shares traded in the review period represented 42.78% of the total trades registered. In terms of value, it accounted for 52.11% of the total.
In contrast to the corresponding previous periods, the value of N541.21 billion represents a decline as against N597.44 billion and N772.15 billion recorded in H1 2020 and H1 2019 respectively.
According to the report, Cardinalstone and Morgan Capital led the list by volume while Stanbic IBTC and Investment One stood top by value.
Stockbrokers by value
Accounting for 52.11% of the total value of shares traded in the bourse, the top 10 stockbroking firms traded in shares valued at N541.21 billion.
- Stanbic IBTC Stockbrokers led the list, with trades valued at N112.09 billion, having led the same category in the corresponding periods of 2019 and 2020. The firm accounted for 10.79% of the total value of traded stocks in the half-year period.
- Investment One followed in second place with trade valued at N72.41 billion, representing 6.97% of the total recorded trades.
- Cardinalstone Securities, having led the list by volume, stands third by value with trades in stocks valued at N70.65 billion, 6.8% of the total trades.
- Rencap Securities also recorded trades in stocks valued at N65.49 billion, while EFG Hermes follows with N46.22 billion.
- Others include Absa Securities (N43.16 billion), Meristem Stockbrokers (N42.64 billion), FBN Quest Securities (N33.33 billion), WSTC Securities (N29.48 billion), and Apel Asset (N25.76 billion).
Stockbrokers by volume
The top 10 performing stockbroking firms by value traded a total of 39.34 billion units of shares, accounting for 42.78% of the total traded stocks in H1 2021.
- Cardinalstone Securities led the list with a total of 7.32 billion units of shares traded, representing 7.96% of the total, while Morgan Capital followed closely, having traded 6.93 billion units of shares.
- Meristem Stockbrokers stands third on the list with 5.45 billion units of shares traded during the period, accounting for 5.93% of the total.
- Stanbic IBTC Stockbrokers traded in 4.55 billion units of shares, to stand in fourth place, while Atlass Portfolios in the fifth position traded 3.73 billion units of shares.
- Others on the list include GTI Securities (3.18 billion), Greenwich Trust (2.21 billion), Lighthouse Capital (2.18 billion), FBN Quest Securities (1.89 billion), and CSL Stockbrokers (1.88 billion).
What you know
The NGX All-Share Index dipped by 5.87% in H1 2021, characterised by negative consecutive quarterly performances, Q1 2021 (-3.04%), and Q2 2021 (-2.91%).
As of 25th June 2021, the oil/gas index was the best performing sub-indices at 39.07%, while the NGX Sovereign bond index declined by 20.71%.
