Stanbic IBTC Stockbrokers, Rencap Securities, EFCP, seven other stockbroking houses have dominated transactions at the Nigerian Stock Exchange, NSE.
These 10 brokers emerged leaders in Nigerian Stock Market equtransactions in the 11 months from January 4th and November 30, 2016 where only 10 out of 220 active stockbrokers were responsible for N619.4 billion or 62.04 percent value of business, according to the NSE’s stockbrokers’ performance report.
Stanbic IBTC Stockbrokers Limited traded N144.6 billion or 14.48 percent while Rencap Securities (Nig) Limited traded N112.1 billion or 11.22 percent worth of equities in the eleven months of 2016, the report reveals.
EFCP Limited came in third after trading N95.5 billion or 9.56 percent in the period under review, CSL Stockbrokers occupied the fourth position after trading N83.2 billion or 8.33 percent while FBN Securities Limited came fifth, trading N47.3 billion or 4.74 percent value in the nation’s equities market for eleven months.
Others on the list of NSE’s 10 top stockbrokers for the eleven months under review include Greenwich Trust Limited with N36.3 billion or 3.64 percent, Chapel Hill Denham Securities Limited N32.7 billion or 3.27 percent and ARM Securities limited with 22.6 billion or 2.36 percent.
Cardinalstone Securities and African Alliance Stockbrokers Limited carried out transactions valued at N22.6 billion or 2.27 percent and N21.6 billion or 2.16 percent respectively.
In terms of volume traded, top 10 stockbrokers traded approximately 98 billion or 70.9 percent worth of transaction in eleven months of 2016.
Greenwich Trust Limited that was ranked 6th in top value traded led the volume movers with a total volume of 34.6 billion or 25.06 percent, followed by Stanbic IBTC Stockbrokers Limited that transacted 9.1 billion or 6.56 percent of volume transaction in the equities market from January to November.
Capital Asset Management-Nig Limited exchanged 8.5 billion or 6.13 percent; CSL Stockbrokers, 8.3 billion or 6.02 percent; Global Asset Management traded 7.9 billion or 5.77 percent and Vetiva Capital Management came sixth with 7.6 billion or 5.47 percent as volume traded.
Rencap Securities (Nig) Limited and FBN Securities limited traded 7.1 billion or 5.15 percent and 5.1 billion or 3.71 percent in terms of volume respectively.
The other two include EFCP Limited 5.07 billion or 3.67 percent while PAC Securities limited 4.64 billion or 3.36 percent volume of transaction traded in the equities market, Worldstage reports.
Inflow from Foreign Portfolio Investors (FPIs), local institutional investors and equity exposure in mutual funds, were responsible for transactions from these firms, with major clients as foreign portfolio investors, while a few of them have significant equity exposure through their collective Investment Schemes (CIS) through which they access trading volumes and values weekly.
