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
A 1.08 per cent growth was further printed by the Nigerian Exchange (NGX) Limited on Friday on improved appetite for Nigerian stocks.
Data showed that the insurance sector lost 0.61 per cent yesterday due to profit-taking as the energy space gave up 0.08 per cent, while the commodity counter closed flat.
However, the industrial goods landscape appreciated by 2.06 per cent, the banking index improved by 1.31 per cent, and the consumer goods sector expanded by 0.83 per cent.
At the close of business on Customs Street, the All-Share Index (ASI) increased by 1,563.92 points to 147,040.07 points from 145,476.15 points and the market capitalisation went up by N996 billion to N93.722 trillion from N92.726 trillion.
UAC Nigeria led the advancers’ log yesterday after it grew by 10.00 per cent to N96.80, Transcorp Hotels jumped by 9.71 per cent to N172.80, Royal Exchange appreciated by 8.89 per cent to N1.96, Ikeja Hotel soared by 8.74 per cent to N31.10, and Veritas Kapital leapt by 8.07 per cent to N1.74.
On the flip side, Union Dicon declined by 10.00 per cent to N6.30, ABC Transport slipped by 9.88 per cent to N3.10, AXA Mansard depreciated by 7.19 per cent to N12.90, FTN Cocoa lost 4.62 per cent to trade at N4.75, and Guinea Insurance dropped 3.36 per cent to finish at N1.15.
A total of 38 stocks ended on the gainers’ table and 17 stocks finished on the losers’ table, representing a positive market breadth index and strong investor sentiment.
Traders transacted 361.6 million equities for N14.8 billion in 21,051 deals yesterday versus the 1.9 billion equities worth N19.2 billion traded in 23,369 deals a day earlier, showing a decline in the trading volume, value, and number of deals by 80.97 per cent, 22.92 per cent, and 14.20 per cent, respectively.
The busiest stock for the session was Zenith Bank with 59.5 million units worth N3.6 billion, Access Holdings traded 46.1 million units valued at N973.0 million, Fidelity Bank exchanged 29.4 million units for N560.4 million, FCMB transacted 27.9 million units worth N293.9 million, and Tantalizers sold 13.0 million units valued at N29.8 million.
By Adedapo Adesanya
Energy stocks influenced the 4.76 per cent loss recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, December 5.
The culprits were the duo of 11 Plc and Nipco Plc,with the former shedding N32.17 to end at N291.83 per share compared with the previous day’s N324.00 per share, and the latter down by N21.00 to sell at N195.00 per unit versus the previous session’s N216.00 per unit.
Consequently, the NASD Unlisted Security Index (NSI) slumped by 170.16 points to 3,401.37 points from 3,571.53 points and the market capitalisation lost N101.81 billion to close at N2.035 billion from the N2.136 trillion quoted in the preceding session.
The OTC securities exchange suffered the decline yesterday despite the share prices of three companies closing green.
Central Securities Clearing System (CSCS) Plc was up by N1.80 to close at N39.80 per share compared with Thursday’s price of N38.00 per share, Air Liquide Plc appreciated by N1.09 to N11.99 per unit from N10.90 per unit, and FrieslandCampina Wamco Nigeria Plc grew by 78 Kobo to N56.57 per share from N55.79 per share.
During the session, the volume of transactions rose by 6,885.3 per cent to 18.2 million units from 4.3 million units, the value of transactions ballooned by 10,301.7 per cent to N389.7 million from N347.2 million, but the number of deals declined by 29.7 per cent to 26 deals from 37 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc ended the day as the most traded stock by value on a year-to-date basis with 5.8 billion units worth N16.4 billion, followed by Okitipupa Plc with 170.4 million units valued at N8.0 billion, and Air Liquide Plc with 507.5 million units worth N4.2 billion.
InfraCredit Plc also finished the day as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units worth N524.9 million.
By Adedapo Adesanya
The Naira depreciated further against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, December 5, as FX demand pressure mounts.
The Nigerian currency lost N2.60 or 0.18 per cent against the greenback to close at N1,450.43/$1 compared with the previous day’s N1,447.83/$1.
Equally, the domestic currency declined against the Pound Sterling in the official forex market during the session by N4.48 to trade at N1,935.45/£1, in contrast to Thursday’s closing price of N1,930.97/£1 and shrank against the Euro by 43 Kobo to end at N1,689.17/€1 versus the preceding session’s rate of N1,688.74/€1.
Similarly, the local currency performed badly against the US Dollar at the GTBank FX counter by N2 to close at N1,455/$1 versus Thursday’s N1,453/$1 but traded flat at the parallel market at N14.65/$1.
As the country gets into the festive period, pressure mounted on the local currency reflecting higher foreign payments and lower FX inflows.
However, there are expectations that the Nigerian currency will be stable, supported by interventions by to the Central Bank of Nigeria (CBN) in the face of steady dollar Demand and inflows from Detty December festivities that will give the Naira a boost after it depreciated mildly last month.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450/$1 next week, buoyed by improved FX interventions by the apex bank.
As for the crypto market, it was down yesterday due to profit-taking associated with year-end trading. However, the December 1-Year Consumer Inflation Expectation by the University of Michigan fell to 4.1 per cent from 4.5 per cent previously and 4.5 per cent expected. The 5-Year Consumer Inflation Expectation fell to 3.2 per cent from 3.4 per cent previously and 3.4 per cent expected.
With the dearth of official economic data of late, these private surveys have taken on a new level of significance and the market banks of them to make decisions.
Cardano (ADA) depreciated by 5.7 per cent to $0.4142, Dogecoin (DOGE) slid by 5.1 per cent to $0.1394, Ethereum (ETH) dropped by 3.9 per cent to $3,039.75, Solana (SOL) declined by 3.8 per cent to $133.24, and Litecoin (LTC) fell by 3.7 per cent to $80.59.
Further, Bitcoin (BTC) went down by 2.6 per cent to sell at $89,683.72, Binance Coin (BNB) slumped by 2.2 per cent to $883.59, and Ripple (XRP) shrank by 2.1 per cent to $2.04, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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