Dipo Olowookere
By Dipo Olowookere
One of the leading brokerage firms in Nigeria, Stanbic IBTC Stockbrokers Limited, relegated another major player in the sector, Morgan Capital Securities Limited, on the activity chart last week.
In the previous week, Morgan Capital was the most active brokerage company, but last week, Stanbic IBTC took over that juicy spot from the former after trading 207.3 million units of stocks in the five-day trading week, contributing 11.49 per cent to the total volume of shares transacted in the week by all the authorised stockbrokers.
Occupying the second spot was Cardinalstone Securities, which traded 163.8 million shares (9.08 per cent), while EFG Hermes transacted 159.6 million equities (8.85 per cent), with Morgan Capital in the fourth position with 116.7 million stocks (6.47 per cent) and Meristem Stockbrokers, which traded 99.1 million shares (5.49 per cent).
Furthermore, Growth and Development Asset Management exchanged 58.8 million stocks (3.26 per cent), Rencap Securities transacted 53.8 million shares (2.98 per cent), Coronation Securities traded 51.2 million equities (2.84 per cent), Nigerian International Securities exchanged 41.5 million shares (2.30 per cent), while CSL Stockbrokers traded 39.7 million stocks (2.20 per cent).
Business Post reports that these top 10 stockbroking companies, which traded a total of 991.4 million shares between Monday, July 6, 2020, to Friday, July 10, 2020, contributed 54.97 per cent of the total volume of trades in the week.
In terms of value of transactions, Stanbic IBTC Stockbrokers also claimed the first position, trading shares worth N5.6 billion in the week, responsible for 17.57 per cent of the N23.2 billion worth of stocks transacted in last week.
Rencap Securities traded N3.1 billion worth of shares (9.65 per cent), Cordros Securities transacted N2.9 billion shares (9.08 per cent), ABSA Securities exchanged N2.4 billion equities (7.52 per cent), Meristem Stockbrokers traded N2.2 billion shares (7.03 per cent), while EFG Hermes transacted 1.9 billion stocks (6.02 per cent).
Also, during the week, investors bought and sold N1.4 billion shares through CSL Stockbrokers, contributing (4.47 per cent) to the stock value of trades.
Nigerian International Securities traded N1.3 billion shares (4.13 per cent), Cardinalstone Securities exchanged N1.2 billion equities (3.79 per cent), while Growth and Development Asset Management transacted N1.2 billion stocks (3.79 per cent).
