Economy
Qualinvest Capital Emerges Most Active Stockbroker in June, Q2 2019
By Dipo Olowookere
A wholly-owned subsidiary of Wema Bank Plc, Qualinvest Capital Limited, has topped the best performing stockbroking companies in the month of June 2019 and second quarter of 2019, Business Post is reporting.
Last month, the company transacted the highest volume of shares in the country, contributing 48.62 percent to the 81.37 percent the top 10 firms added to the total volume of equities traded on the floor of the Nigerian Stock Exchange (NSE). The company traded 10.6 billion shares in the period under review.
Taking the second position was Stanbic IBTC Stockbrokers Ltd, which traded 2.1 billion units or 9.55 percent, while the third was EFG Hermes Nigeria Ltd, which sold 1.4 billion equities or 6.34 percent.
Occupying the fourth spot was APT Securities and Funds, which exchanged 1 billion shares or 4.67 percent, while the fifth was Rencap Securities Nigeria Ltd, transacting 693.4 million shares or 3.19 percent.
CSL Stockbrokers Ltd traded 640.6 million or 2.94 percent, Chapel Hill Denham Securities Ltd exchanged 394.6 million units or 1.81 percent, Quantum Zenith Securities and Investment Ltd transacted 341.7 million or 1.57 percent, Cardinalstone Securities Ltd sold 299.9 million shares or 1.38 percent, while Tellimer Capital Ltd traded 284.1 million equities or 1.31 percent.
In all, these 10 brokerage firms transacted a total of 17.7 billion shares in the month of June 2019.
On the value side, it was Stanbic IBTC Stockbrokers that claimed the top spot, recording transactions worth N87.6 billion or 29.67 percent of the trades last month.
APT Securities and Funds followed with N64 billion transactions or 21.69 percent, EFG Hermes recorded N30.1 billion trades or 10.18 percent, Rencap exchanged stocks valued at N24 billion or 8.14 percent, while CSL Stockbrokers sold equities worth N12.1 billion or 4.10 percent.
Tellimer Capital traded equities worth N6.9 billion or 2.32 percent, Chapel Hill Denham Securities sold shares valued at N6.8 billion or 2.29 percent, Qualinvest Capital exchanged stocks worth N6.7 billion or 2.28 percent, Quantum Zenith Securities and Investment sold shares valued at N6.6 billion or 2.22 percent, with Cordros Securities Ltd transacting N4.2 billion equities or 1.43 percent.
Business Post reports that from June 1 to 28, 2019, shares valued at N249 billion were transacted by these 10 companies and they contributed 84.33 percent of the total trades on the NSE.
In the second quarter of this year, Qualinvest Capital topped the best performing stockbrokers’ table, with 10.7 billion shares traded by the firm, contributing 20.85 percent to the total volume of trades.
Stanbic IBTC Stockbrokers sold 4.6 billion shares or 9.06 percent, Greenwich Trust executed 3.2 billion equities or 6.28 percent, Cardinalstone Securities exchanged 2.7 billion stocks or 5.24 percent, while EFG Hermes transacted 2.3 billion equities or 4.59 percent.
Rencap Securities transacted 2.2 billion shares or 4.34 percent of the total volume in Q2 2019, CSL Stockbrokers traded 1.9 billion shares or 3.76 percent, Morgan Capital Securities sold 1.8 billion equities or 3.61 percent, APT Securities traded 1.4 billion stocks or 2.79 percent, while Chapel Hill Denham transacted 1.3 billion or 2.66 percent.
In the period under consideration, the above companies traded a total of 32.3 billion shares, contributing 63.18 percent of the total volume of shares sold at the NSE.
In value terms, Stanbic IBTC Stockbrokers claimed the number one spot, trading stocks worth N148.2 billion or 22.39 percent of the total value of shares sold on the NSE from April 1, 2019 to June 28, 2019.
APT Securities and Funds occupied the second spot with N68.7 billion or 10.38 percent, while Rencap Securities claimed the third position for the N64.9 billion shares or 9.81 percent it recorded.
Coronation Securities sold N51.6 billion equities or 7.80 percent, EFG Hermes traded N43.7 billion stocks or 6.60 percent, CSL Stockbrokers transacted N37.6 billion shares or 5.68 percent, Chapel Hill Denham exchanged N25 billion shares or 3.77 percent, Tellimer Capital sold N19.2 billion equities or 2.90 percent, Cardinalstone Securities traded N18.8 billion shares or 2.84 percent, while FBN Quest Securities transacted N17.4 billion equities or 2.63 percent.
In all, the total value of stocks transacted by investors through these stockbrokers was N495 billion, contributing 74.80 percent of the total value of trades in Q2 2019.
By Dipo Olowookere
The local stock market firmed up by 1.13 per cent on Friday as appetite for Nigerian stocks remained strong.
Investors reacted well to the 2026 budget presentation of President Bola Tinubu to the National Assembly yesterday, especially because of the more realistic crude oil benchmark of $64 per barrel compared with the ambitious $75 per barrel for 2025. This year, prices have been between $60 and $65 per barrel.
Business Post observed profit-taking in the commodity and energy sectors as they respectively shed 0.14 per cent and 0.03 per cent.
But, bargain-hunting in the others sustained the positive run, with the consumer goods index up by 3.82 per cent.
Further, the industrial goods space appreciated by 1.46 per cent, the banking counter improved by 0.08 per cent, and the insurance industry gained 0.04 per cent.
As a result, the All-Share Index (ASI) increased by 1,694.33 points to 152,057.38 points from 150,363.05 points and the market capitalisation chalked up N1.080 trillion to finish at N96.937 trillion compared with Thursday’s closing value of N95.857 trillion.
A total of 34 shares ended on the advancers’ chart, while 24 were on the laggards’ log, representing a positive market breadth index and bullish investor sentiment.
Austin Laz gained 10.00 per cent to close at N2.42, Union Dicon also jumped 10.00 per cent to N6.60, Tantalizers increased by 9.80 per cent to N2.69, Aluminium Extrusion improved by 9.78 per cent to N12.35, and Champion Breweries grew by 9.71 per cent to N16.95.
Conversely, Sovereign Trust Insurance dipped by 7.42 per cent to N3.87, Royal Exchange lost 6.84 per cent to trade at N1.77, Omatek slipped by 6.84 per cent to N1.09, Eunisell depreciated by 5.88 per cent to N80.00, and Eterna dropped 5.63 per cent to close at N28.50.
Yesterday, traders transacted 1.5 billion units worth N21.8 billion in 25,667 deals compared with the 839.8 million units sold for N32.8 billion in 23,211 deals in the preceding session, showing a surge in the trading volume by 76.61 per cent, an uptick in the number of deals by 10.58 per cent, and a shrink in the trading value by 33.54 per cent.
By Adedapo Adesanya
Three stocks stretched the bearish run of the NASD Over-the-Counter (OTC) Securities Exchange by 1.21 per cent on Friday, December 19, with the market capitalisation giving up N26.01 billion to close at N2.121 billion compared with the N2.147 trillion it ended a day earlier, and the NASD Unlisted Security Index (NSI) dropping 43.47 points to 3,546.41 points from 3,589.88 points.
The trio of FrieslandCampina Wamco Nigeria Plc, Central Securities Clearing System (CSCS) Plc, and NASD Plc overpowered the gains printed by four other securities.
FrieslandCampina Wamco Nigeria Plc lost N6.00 to sell at N54.00 per unit versus N60.00 per unit, NASD Plc shrank by N3.50 to N58.50 per share from N55.00 per share, and CSCS Plc depleted by N2.91 to N33.87 per unit from N36.78 per unit.
On the flip side, Air Liquide Plc gained N1.01 to close at N13.00 per share versus N11.99 per share, Golden Capital Plc appreciated by 70 Kobo to N7.68 per unit from N6.98 per unit, Geo-Fluids Plc added 39 Kobo to sell at N5.50 per share versus N5.11 per share, and IPWA Plc rose by 8 Kobo to 85 Kobo per unit from 77 Kobo per unit.
During the trading day, market participants traded 1.9 million securities versus the previous day’s 30.5 million securities showing a decline of 49.3 per cent. The value of trades went down by 64.3 per cent to N80.3 million from N225.1 million, but the number of deals jumped by 32.1 per cent to 37 deals from 28 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc finished the session as the most active stock by value on a year-to-date basis with 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units traded for N4.9 billion.
The most active stock by volume on a year-to-date basis was still InfraCredit Plc with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.7 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Adedapo Adesanya
It was not a good day for the Nigerian Naira at the two major foreign exchange (FX) market on Friday as it suffered a heavy loss against the United States Dollar at the close of transactions.
In the black market segment, the Naira weakened against its American counterpart yesterday by N10 to quote at N1,485/$1, in contrast to the N1,475/$1 it was traded a day earlier, and at the GTBank forex counter, it depreciated by N2 to settle at N1,467/$1 versus Thursday’s closing price of N1,465/$1.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX) window, which is also the official market, the nation’s legal tender crashed against the greenback by N6.65 or 0.46 per cent to close at N1,464.49/$1 compared with the preceding session’s rate of N1,457.84/$1.
In the same vein, the local currency tumbled against the Euro in the spot market by N2.25 to sell for N1,714.63/€1 compared with the previous day’s N1,712.38/€1, but appreciated against the Pound Sterling by 73 Kobo to finish at N1,957.30/£1 compared with the N1,958.03/£1 it was traded in the preceding session.
The market continues to face seasonal pressure even as the Central Bank of Nigeria (CBN) is still conducting FX intervention sales, which have significantly reduced but not remove pressure from the Naira. Also, there seems to be reduced supply from exporters, foreign portfolio investors and non-bank corporate inflows.
President Bola Tinubu on Friday presented the government’s N58.47 trillion budget plan aimed at consolidating economic reforms and boosting growth.
The budget is based on a projected crude oil price of $64.85 a barrel and includes a target oil output of 1.84 million barrels a day. It also projects an exchange rate of N1,400 to the Dollar.
President Tinubu said inflation had plunged to an annual rate of 14.45 per cent in November from 24.23 per cent in March, while foreign reserves had surged to a seven-year high of $47 billion.
Meanwhile, the cryptocurrency market was dominated by the bulls but it continues to face increased pressure after million in liquidations in previous session over accelerating declines, with Dogecoin (DOGE) recovering 4.2 per cent to trade at $0.1309.
Further, Ripple (XRP) appreciated by 3.9 per cent to $1.90, Cardano (ADA) rose by 3.5 per cent to $0.3728, Solana (SOL) jumped by 3.4 per cent to $126.23, Ethereum (ETH) climbed by 2.9 per cent to $2,982.42, Binance Coin (BNB) gained 2.0 per cent to sell for $853.06, Bitcoin (BTC) improved by 1.7 per cent to $88,281.21, and Litecoin (LTC) soared by 1.2 per cent to $76.50, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
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