10 Nigerian stockbrokers trade N597bn shares in six months

Despite the economic impact of the Coronavirus Disease in Nigeria, 10 stockbroking firms traded a total of N597.4bn worth of shares between January and June this year.

The firms, according to the brokers’ performance report released by the Nigerian Stock Exchange, traded 39.6bn units of shares over the period.

They, however, accounted for 59.31 per cent of the total value of shares traded year to date and 47.22 per cent of the total volume of shares traded on the floor of the NSE in the period under review.

Further analysis of the report showed that the 10 stockbrokers by value are: Stanbic IBTC Stockbrokers with a value of N128.3bn, accounting for 12.73 per cent of the shares traded during the period.

Next on the list is EFG Hermes with transactions to the value of N118.5bn, representing 11.77 per cent of the total value of shares.

Rencap Securities followed with the value of transactions to the tune of N82.2bn, making 8.16 per cent contribution to the total value of shares traded over the period.

The total value of transactions made by CSL Stockbrokers stood at N63.5bn and this accounted for 6.30 per cent of the same.

Cardinal Stone Securities accounted for N50.5bn as well, representing 5.02 per cent.

Other stockbroking firms that made the list include Chapel Hill Denham Securities (N34.2bn), Tellimer Capital Limited (N33.5bn), Cordros Securities (N31.4bn), Meristem Stockbrokers Limited (N28.9bn) and FBN Quest Securities Ltd (N26.2bn)

By volume, Cardinal Stone Securities came tops with 6.2bn units of shares which represents 7.37 per cent, FG Hermes traded 6.1bn (7.28 per cent), Morgan Capital traded 5.7bn (6.76 per cent), StanbicIBTC Stockbrokers 4.7bn (5.57 per cent) and Rencap Securities 4.5bn (5.34 per cent) of the total volume of shares.

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