A Review of the Nigerian Energy Industry

10 stockbroking firms account for 68.51% of NSE value

08 December 2014, Abuja – Top 10 stockbroking firms accounted for 68.51 percent of total value traded in the stock market during the month ended November 28, 2014, data from the Nigerian Stock Exchange, NSE, has shown.

According to the data, the top 10 dealing member firms netted N138.19 billion of total transactions carried out in the market during the period, representing 68.51 percent.

Nigerian-Stock-Exchange.NSECSL Stockbrokers Limited crossed shares worth N31.53 billion, which translated to 15.63 percent of the total market value to come top on the list. This was followed by Rencap Securities Nig. Ltd with total transactions worth N23.15 billion, representing 11.48 percent.

Stanbic IBTC Stockbrokers trailed behind with transactions valued at N22.51 billion or 11.16 percent of the total market value; FBN Securities closed as the fourth top stockbrking house in the month, accounting N16.16 billion or 8.01 per cent, while Chapel Hill Denham Management closed as the fifth with transactions worth N13.91 billion, translating to 6.90 per cent.

Others were Primera Africa Securities, which traded shares valued at N7.21 billion; Cordos Capital with N7.15 billion value or 3.54 percent; Vetiva Capital, N5.89 billion or 2.92 percent; while Meristem Securities and Apel Asset Limited traded shares valued at N5.67 billion and N4.997 billion respectively to close the list of the top 10 stockbroking firms in the month.

On the hand, the top 10 stockbroking firms in terms of volume traded were responsible for 60.94 per cent of shares traded within the same period.

Specifically, the firms, which include CSL Stockbrokers, Stanbic IBTC Stockbrokers, Rencap Securities (Nig.), FBN Securities and Readings Investment Ltd among others, accounted for 11.08 billion of the volume traded in the month of November.

CSL Stockbrokers again emerged the first with 1.05 billion or 10.75 percent of the total volume traded in the market, followed by Stanbic IBTC Stockbroker that accounted for 1.90 billion or 10.47 percent of the market volume. Rencap Securities (Nig.) Ltd closed as the third on the list with 1.63 billion or 8.96 percent, while FBN Securities and Readings Investment Ltd were the last two with 992.08 million shares and 949.58 million, representing 5.46 percent and 5.22 percent of the total market value respectively.

Meanwhile, statistics from the Exchange for the period under review showed that the market capitalisation dropped by N1.18 trillion, closing at N11.404 trillion against N12.579 trillion achieved in October.

Similarly, the All-Share Index lost 3436.94 basis points or 9.04 per cent to close at 34,543.05 as against 37,979.99 posted the previous month, situation market operators attributed the persistent market downturn to uncertainties surrounding the 2015 general elections and exit of foreign investors.

A total of 9.08 billion shares worth N100.4 billion were transacted by investors in 93,875 deals as against the 7.02 billion shares valued N73.56 billion traded which changed hands in 85,372 deals in October.

The financial services sector emerged the toast of investors during the period, accounting for 7.37 billion shares worth N52.24 billion traded in 50,692 deals, trailed by conglomerates sector which accounted for 542.61 million shares valued N2.62 billion exchanged by investors in 5,903 deals.


– Vanguard

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