• Sunday, November 03, 2024
businessday logo

BusinessDay

Investors’ N109.613bn bet goes through 10 stockbrokers

businessday-icon

Investors at the Nigerian Stock Exchange (NSE) last month staked N109.613 billion in the market through only 10 stockbroking firms evidenced in the value of deals (purchases and sales) the firms accounted for last month.

Stanbic IBTC Stockbrokers Limited, Rencap Securities (Nigeria) Limited, FBN Securities Limited, CSL Stockbrokers Limited, Chapelhill Denham Securities Limited, Cordros Capital Limited, BGL Securities Limited, Partnership Investment Company Limited, Zenith Securities Limited, and ARM Securities Limited, were the major benefactors of this investments as they accounted for 57.24 percent of the total value of stocks traded between February 1, 2013, and February 28, 2013.

Analysts say out of over 200 stockbroking firms at the Nigerian bourse, these 10 stockbroking firms are those whose clientele-base are mainly foreign investors, and are benefiting from this largesse of foreign investors who still control over 50 percent of market liquidity flows.

Our check reveals that investors staked N39.093 billion or 20.41 percent of the said N109.613 billion through Stanbic IBTC Stockbrokers Limited, while N25.935 billion or 13.54 percent was invested through Rencap Securities (Nigeria) Limited. FBN Securities Limited accounted for N8.328 billion or 4.35 percent.

CSL Stockbrokers Limited accounted for N8.273 billion or 4.32 percent. Chapelhill Denham Securities Limited accounted for 2.89 percent or N5.543 billion. Cordros Capital Limited (N4.894bn or 2.56%). BGL Securities Limited (N4.816bn or 2.525). Partnership Investment Company Limited (N4.562bn or 2.385). Zenith Securities Limited (N4.215bn or 2.20%), and ARM Securities

Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp