Economy
EFG Hermes Emerges Most Active Stockbroker for March
By Dipo Olowookere
The role of stockbrokers in the capital market can never be pushed aside because they are a very critical part of the ecosystem.
In fact, investors, both retail and institutional cannot transact securities available at the market without going through them. They are just like the part of the Bible which says no one gets to the Father except through Me.
However, the choice of stockbrokers by investors at the equity market is swayed by different factors. Some traders prefer those who offer lower commission, while others like stockbrokers who are customer friendly.
Every brokerage firm wants to be the most preferred, pulling the highest volume and value of transactions and due to this, many try to position themselves before investors to be able to maintain leadership position in the business.
Data gathered by Business Post showed that in March 2020, EFG Hermes Nigeria Limited emerged the most active stockbroker both by volume and value.
During the period under consideration, the brokerage company traded a total of 2.693 billion units of shares, accounting for 12.33 percent of the market’s turnover for the month.
Rencap Securities, which occupied the second position, managed 1.468 billion units, accounting for 6.72 percent, while Stanbic IBTC Stockbrokers, which was the most active for February 2020, dropped to the third place in March after transacting 1.409 billion stocks, accounting for 6.45 percent.
Cardinalstone Securities traded 1.232 billion securities (5.64 percent), CSL Stockbrokers Ltd traded 907.8 million stocks (4.16 percent), Morgan Capital exchanged 767.3 million units (3.51 percent), Quantum Zenith Securities and Investment Ltd traded 729.5 million shares (3.34 percent), ARM Securities transacted 665.3 million equities (3.05 percent), FCSL Asset Management Company exchanged 662.6 million shares (3.03 percent), while Coronation Securities Ltd transacted 644.9 million stocks (2.95 percent).
The above 10 brokerage firms pulled a total of 11.180 billion units of stocks traded at the Nigerian Stock Exchange (NSE) last month, resulting in 51.18 percent of the total volume.
By value, as earlier stated, EFG Hermes Nigeria Ltd was the most active stockbroking firm last month, pulling stocks worth N39.651 billion in the month, accounting for 16.30 percent of the total value of transactions for the month.
Stanbic IBTC Stockbrokers, which came second, traded shares worth N30.163 billion to account for 12.40 percent of the overall transaction value, while Rencap Securities transacted stocks valued at N20.721 billion to account for 8.52 percent of the trades.
CSL Stockbrokers exchanges equities worth N12.996 billion (5.34 percent), Tellmer Capital Ltd transacted N11.298 billion shares (4.65 percent), ARM exchanged N10.155 billion stocks (4.18 percent), Cardinalstone Securities transacted N9.187 billion equities (3.78 percent), Cordros Securities Ltd traded N7.520 billion shares (3.09 percent), Chapel Hill Denham Securities transacted N6.723 billion stocks (2.76 percent), while Quantum Zenith Securities and Investment Ltd traded N6.463 billion equities (2.66 percent).
In all, these 10 stockbroking firms traded shares worth N154.9 billion in the month under review, contributing 63.68 percent to the total value of transactions recorded in March.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.65 per cent gain on Friday, December 13, boosted by three equities admitted on the trading platform.
On the last trading session of the week, Okitipupa Plc appreciated by N2.70 to settle at N29.74 per share versus Thursday’s closing price of N27.04 per share, FrieslandCampina Wamco Nigeria Plc added N2.49 to end the session at N42.85 per unit compared with the previous day’s N40.36 per unit, and Afriland Properties Plc gained 50 Kobo to close at N16.30 per share, in contrast to the preceding session’s N15.80 per share.
Consequently, the market capitalisation added N6.89 billion to settle at N1.062 trillion compared with the preceding day’s N1.055 trillion and the NASD Unlisted Security Index (NSI) gained 19.66 points to wrap the session at 3,032.16 points compared with 3,012.50 points recorded in the previous session.
Yesterday, the volume of securities traded by investors increased by 171.6 per cent to 1.2 million units from the 447,905 units recorded a day earlier, but the value of shares traded by the market participants declined by 19.3 per cent to N2.4 million from the N3.02 million achieved a day earlier, and the number of deals went down by 14.3 per cent to 18 deals from 21 deals.
At the close of business, Geo-Fluids Plc was the most active stock by volume on a year-to-date basis with a turnover of 1.7 billion units worth N3.9 billion, followed by Okitipupa Plc with the sale of 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 million.
In the same vein, Aradel Holdings Plc remained the most active stock by value on a year-to-date basis with the sale of 108.7 million units for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with a turnover of 297.3 million units worth N5.3 billion.
By Adedapo Adesanya
The Naira appreciated further against the United States Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N1.50 or 0.09 per cent to close at N1,533.00/$1 on Friday, December 13 versus the N1,534.50/$1 it was transacted on Thursday.
The local currency has continued to benefit from the Electronic Foreign Exchange Matching System (EFEMS) introduced by the Central Bank of Nigeria (CBN) this month.
The implementation of the forex system comes with diverse implications for all segments of the financial markets that deal with FX, including the rebound in the value of the Naira across markets.
The system instantly reflects data on all FX transactions conducted in the interbank market and approved by the CBN.
Market analysts say the publication of real-time prices and buy-sell orders data from this system has lent support to the Naira in the official market and tackled speculation.
In the official market yesterday, the domestic currency improved its value against the Pound Sterling by N12.58 to wrap the session at N1,942.19/£1 compared with the previous day’s N1,954.77/£1 and against the Euro, it gained N2.44 to close at N1,612.85/€1 versus Thursday’s closing price of N1,610.41/€1.
At the black market, the Nigerian Naira appreciated against the greenback on Friday by N30 to sell for N1,650/$1 compared with the preceding session’s value of N1,680/$1.
Meanwhile, the cryptocurrency market was largely positive as investors banked on recent signals, including fresh support from US President-elect, Mr Donald Trump, as well as interest rate cuts by the European Central Bank (ECB).
Ripple (XRP) added 7.3 per cent to sell at $2.49, Binance Coin (BNB) rose by 3.5 per cent to $728.28, Cardano (ADA) expanded by 2.4 per cent to trade at $1.11, Litecoin (LTC) increased by 2.3 per cent to $122.56, Bitcoin (BTC) gained 1.9 per cent to settle at $101,766.17, Dogecoin (DOGE) jumped by 1.2 per cent to $0.4064, Solana (SOL) soared by 0.7 per cent to $226.15 and Ethereum (ETH) advanced by 0.6 per cent to $3,925.35, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
By Dipo Olowookere
For the fourth consecutive trading session, the Nigerian Exchange (NGX) Limited closed higher on Friday by 0.63 per cent on sustained renewed buying pressure.
Apart from the energy and industrial goods sectors which closed flat, every other sector ended in the green territory, according to data obtained from the bourse.
Business Post reports that the insurance index appreciated by 1.52 per cent, the banking space improved by 0.63 per cent, and the consumer goods counter expanded by 0.46 per cent.
As a result, the All-Share Index (ASI) gained 617.47 points to settle at 99,378.06 points compared with the preceding day’s 98,760.59 points and the market capitalisation went up by 375 billion to close at N60.242 trillion, in contrast to Thursday’s closing value of N59.867 trillion.
The volume of transactions on Customs Street yesterday grew by 11.13 per cent to 544.2 million shares from the 489.7 million shares transacted a day earlier.
The value of transactions increased during the session by 49.30 per cent to N10.6 billion from N7.1 billion and the number of deals went up by 1.93 per cent to 8,464 deals from the 8,304 deals posted in the previous trading session.
The busiest equity for the trading day was Japaul with the sale of 71.7 million units valued at N158.0 million, eTranzact exchanged 70.7 million units worth N477.5 million, Tantalizers sold 57.3 million units for N101.2 million, FCMB traded 33.0 million units worth N297.3 million, and Universal Insurance transacted 27.1 million units valued at N9.6 million.
A total of 36 stocks ended on the gainers’ chart, while 15 stocks finished on the losers’ table, indicating a positive market breadth index and strong investor sentiment.
The trio of Aradel Holdings, Ikeja Hotel and Caverton gained 10.00 per cent each to trade at N550.00, N8.80, and N1.98, respectively, as Africa Prudential rose by 9.87 per cent to N17.25 and Golden Guinea Breweries soared by 9.64 per cent to N8.64.
On the flip side, Austin Laz lost 10.00 per cent to close at N1.62, ABC Transport crashed by 8.00 per cent to N1.15, Royal Exchange slumped by 7.69 per cent to 60 Kobo, Secure Electronic Technology plunged by 5.26 per cent to 54 Kobo, and The Initiates crumbled by 4.26 per cent to N2.25.
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