Top 10 Stockbroking firms trade shares worth N112.84bn in Jan 2021

NIGERIAN Stock Exchange (NSE) enjoyed a bullish start in January 2021, as the all-share index closed at 42,412.66 index points, 5.32% increase compared to 40,270.72 points recorded as of 31st December 2020.

The top ten stockbroking firms traded stocks worth N112.8 billion, accounting for 48.37% of the total value of shares traded in the month. This is according to the Broker Performance Report for the month ended 31st January 2021.

The value of shares traded by the top firms in January 2021, represents an 18.3% decline when compared to N138.1 billion recorded in the corresponding period of 2020.

Stockbrokers by value

• Stanbic IBTC Stockbrokers limited stands top on the list having traded on stocks valued at N21.66 billion and accounting for 9.28% of the total recorded trades. It however represents a decline of 39.4% when compared to N35.76 billion recorded in January 2020.
• Cardinalstone Securities Limited followed with trades on stocks worth N14.89 billion representing 6.39% of the total trades.
• Absa Securities Nigeria Limited traded in stocks worth N14.6 billion, accounting for 6.26% of the total value.
• Rencap Securities Nigeria Limited made transactions worth N13.5 billion (5.79%) to rank fourth on the list.
• EFG Hermes Nigeria Limited transacted in stocks valued at N11.74 billion.
• Others on the list include; Inter State Securities (N8.58 billion), Cordros Securities (N7.21 billion), Apel Asset  (N7.17 billion), APT Securities (N7.11 billion), and Morgan Capital with N6.36 billion.

Stockbrokers by volume of shares

• Stanbic IBTC also topped the list with 2.58 billion units of shares, representing 9.41% of the total volume of shares traded in the month of January.
• GTI Securities came second with 2.29 billion units of shares representing 8.35%.
• Morgan Capital Securities followed with 2.24 billion units of shares which accounted for 8.18% of the total.
• Inter State Securities ranked fourth with transactions in 1.52 billion units of shares. 5.56% of the total unit of shares traded in the month.
• Atlass Portfolios Limited pulled transactions in 1.52 billion units of shares to rank fifth.
• Others include; Meristem Stockbrokers (1.43 billion), Cardinalstone Securities (1.37 billion), APT Securities (523.1 million), CSL Stockbrokers (436 million), and FBN Quest with trades in 408.3 million units of shares.

What you should know

• The All-share index of the NSE posted impressive gains in the month of January, growing by 5.32% to close at 42,412.66 points while the NSE Insurance index recorded the highest gain of 29.77%.
• The NSE Oil and Gas index also grew by 12.43% to close at 254.31 points while the Banking index recorded positive growth of 7.89%.
• Of all sub-indices captured by the Nigerian Stock Exchange, only the NSE Growth index recorded a decline in the month of January 2021.

https://nairametrics.com/2021/02/02/top-10-stockbroking-firms-trade-shares-worth-n112-84-billion-in-january-2021/