10 Stockbroking Firms Control 47.29% Equities Transaction In H1

By Nse Anthony-Uko

(Sundiata Finance) – Ten stockbroking firms operating on the floor of the Nigerian Stock Exchange (NSE) accounted for 47.29 per cent in the first half of the year.  Most quoted equities closed the first half of the year at their four-year best performance with double-digit returns.

Most investors saw their portfolios rising by almost a quarter, while others garnered more than double the average benchmark. Specifically, the NSE market capitalisation, which represents total value of shares on the Exchange, went up by  N2.205 trillion to N11.5 trillion at the close of trading on  June 30, 2017, against N9.246 trillion at the end of December 2016.

It was as a result of improved   foreign exchange inflow, oil price rebound, increased foreign investment inflow among others. The figure, which was contained in the NSE Brokers Performance Report for January to June 2017 showed that the top 10 firms transacted N652.19 billion during the period under review.

On the volume side, 10 stock broking firms accounted for 47.29 per cent or 41.81 billion shares during the  period. The 10 top on the rank are Capital Assets traded 7.147 billion shares or 8.08 per cent of the total transaction for the period. Stanbic IBTC followed, traded 6.757 billion shares, while Rencap Securities transacted 4.95 billion shares.

CSL Stockbrokers also traded 4.262 billion shares, A.R.M Securities handled 3.911 biliion shares, Meristem Securities pulled 3.295 billion shares, while Cardinalstone Securities traded 3.062 billion shares. Others are Morgan Capital Securities, FBN Securities and Cordros Securities with a transaction of 3.026 billion, 2.757 billion and 2.648 billion shares, respectively.

While in terms of value, Cordros Securities, Stanbic IBTC Stockbrokers and Rencap Securities accounted for N414.59 billion translating to 44.27 per cent of the total cash value traded on the NSE in H1. Other firms on the top 10 list are CSL Stockbrokers, A.R.M securities, FBN Securities, EFCP, Chapel Hill Denham Securities,Cardinalstone Securities and APEL Asset.

Capital market analysts said the recovery seen in the stock market was a response to positive changes in the polity, noting that the stock market performance usually aligns with macroeconomic outlook. They noted that the changes in the foreign exchange management and improvement in macroeconomic coordination contributed to market growth.

Leave a Reply

Your email address will not be published. Required fields are marked *


Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143

Washington Office: 1245 Delafield PI NE, Washington DC 20017, USA.
Tel: 0092404216156

About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate