10 Stockbroking Firms Trade 85.5bn Shares Worth N1.4trn in 2019

By Modupe Gbadeyanka

A total of 85.5 billion shares worth N1.4 trillion were transacted by 10 stockbroking companies in Nigeria last year, data from the Nigerian Stock Exchange (NSE) has indicated.

The equities were traded by the prominent brokerage firms from January to December 2019, with Stanbic IBTC Stockbrokers Limited emerging as the most active both by volume and value of the transactions.

The league of 10 biggest brokers on NSE contributed 53.84 percent to the total volume of shares transacted at the nation’s bourse in the year under review and 70.14 percent of the total value.

An analysis by Business Post showed that by volume, Stanbic IBTC Stockbrokers traded 13.9 billion units accounting for 8.75 percent of the total volume of shares, while Qualinvest Capital recorded 12.4 billion units (7.81 percent).

RenCap Securities traded 9.1 billion shares (5.74 percent), EFG Hermes Nigeria exchanged 8.8 billion equities (5.52 percent), CSL Stockbrokers sold 7.8 billion stocks (4.91 percent), while Cardinalstone Securities traded 7.5 billion shares (4.75 percent).

In addition, Greenwich Trust transacted 7.5 billion stocks (4.74 percent), Morgan Capital Securities traded 6.8 billion equities (4.30 percent), Chapel Hill Denham Securities transacted 6.8 billion shares (4.28 percent), while FBN Quest Securities exchanged 4.8 billion stocks (3.04 percent).

By value, Stanbic IBTC Stockbrokers traded shares worth N337.0 billion accounting for 17.49 percent of the total traded value, while RenCap Securities trailed with N239.4 billion contributing 12.42 percent.

EFG Hermes Nigeria sold N188.6 billion stocks (9.79 percent), CSL Stockbrokers exchanged N119.5 billion shares (6.20 percent), Tellimer Capital traded N103.7 billion worth of stocks (5.38 percent), while Chapel Hill Denham transacted N83.1 billion equities (4.31 percent).

Furthermore, APT Securities and Funds traded N77.6 billion shares (4.03 percent), FBN Quest Securities exchanged N72.2 billion (3.75 percent), Coronation Securities transacted N66.5 billion equities (3.45 percent), while Meristem Stockbrokers traded N64.0 billion stocks (3.32 percent).