Ten Nigerian stockbroking companies trade shares worth 534 billion in five months

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In the first five months of the year, ten stockbrokers traded 39.09 billion shares, worth 537.966 billion naira, representing or 55.31 percent of the total shares traded on the Nigerian Stock Exchange (NSE).

The broker performance report by NSE for January 1, to May 31, 2019, showed that the top ten stockbrokers on the bourse traded 68.60 per cent of the total value of shares transacted in the period under review.

Stanbic IBTC Stockbrokers Limited recorded transactions worth 134.99 billion naira, which represent 17.21 percent of the total value during the period.

RenCap Securities followed with a transactions worth 95.54 billion naira, representing 12.18 per ent of the total value of transactions, while CSL Stockbrokers pulled transaction worth 59.08 billion naira. The NSE report also showed that Coronation Securities sold stocks valued at 52.84 billion naira, while EFCP Limited’s transaction was valued at 52.7 billion naira in five months.

Chapel Hill Denham Securities, EFG Hermes, FBN Quest Securities, CardinalStone Securities and Meristem Stockbrokers in that order pulled transactions valued at 34.78 billion naira, 33.96 billion naira, 30.44 billion naira, 28.56 billion naira and 15.06 billion naira.

However, in terms of the volume of shares sold, Greenwich Trust came tops, with 6.95 billion shares, representing a 9.83 percent of the total volume of shares sold during the period. Stanbic IBTC Stockbrokers followed with volume of 6.77 billion shares, while CardinalStone Securities handled 4.19 billion shares.

RenCap Securities pulled 4.08 billion; CSL Stockbrokers transacted 4.06 billion shares, while Chapel Hill Denham Securities also pulled 3.44 billion shares from January to May 2019.

Others are Morgan Capital, FBN Quest Securities, Meristem Stockbrokers and EFG Hermes Nigeria transacted 3.15 billion shares, 2.27 billion shares, 2.16 billion shares and 2.03 billion shares.

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