H1: 10 broking firms trade N597.4bn shares

DESPITE the downtrends in the economy as a result of  the novel Coronavirus and the decrease in oil price globally, ten stockbroking firms in Nigeria traded a total of N597.4 billion worth of shares between January and June 2020.

The top ten stockbroking firms  according to the Broker Performance Report released by the Nigerian Stock Exchange (NSE), traded a total of N597.4 billion and a total volume of 39.6 billion units of shares over the period of January to June, thus accounting for 59.31 per cent of the total value of shares traded year to date and 47.22 per cent of the total volume of shares traded on the NSE in the same period.

Stanbic IBTC Stockbrokers Ltd top the list with the most value of stocks traded with a value of N128.3 billion, accounting for 12.73 per cent of the total value of shares traded during the period.

EFG Hermes followed having transacted N118.5 billion worth of shares, thereby representing 11.77 per cent of the total value of stocks traded.

Rencap Securities Nigeria Ltd took the third place with the value of its transactions to the tune of N82.2 billion, making an 8.16 per cent contribution to the total value of shares traded over the course of the period.

CSL Stockbrokers made a total value of transactions of N63.5 billion and this accounted for 6.30 per cent of the total value of shares traded in the period, while Cardinal Stone Securities transacted N50.5 billion worth of shares representing a 5.02 per cent of the total traded shares during the period under review.

Chapel Hill Denham Securities traded N34.2 billion worth of shares, Tellimer Capital Limited, N33.5 billion; Cordros Securities, N31.4 billion; Meristem Stockbrokers Limited, N28.9 billion and FBN Quest Securities Ltd, N26.2 billion.

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