Meristem, Stanbic, CSL, Rencap, ChapelHill account for 51% transactions on NSE in 2014  

As the management of the Nigerian Stock Exchange (NSE) presents the score card of the market for 2014 today, data obtained from it has shown that five top stockbroking firms accounted for 51 percent equity transactions valued N1.362 trillion during the period.

The companies are Stanbic IBTC Stockbroking Limited, CSL Stockbrokers Limited, Rencap Securities Limited, Chapel Hill Denham and Meristem Securities Limited.

Analysis of the data which reflects trading statistics on the Nigerian bourse between January 2 and December 31, 2014, showed that the five firms traded 71 billion ordinary shares valued N1.362 trillion.

Stanbic IBTC Stockbroking Limited led the pack with N472.415 billion or 17.5 percent, followed by CSL Stockbrokers Limited with transactions worth N262.988 billion or 9.7 percent, Rencap Securities Limited traded equities worth N246.98 billion or 9.2 percent, Chapel Hill Denham Management Limited accounted for N223.849 billion or 8.3 percent while Meristem Securities Limited traded shares valued N156.210 billion or 5.8 percent.

In volume terms, Stanbic IBTC stockbrokers maintained the lead, recording 24.781 billion shares which represented 11.42 percent, while CSL Stockbrokers traded 15.339 billion shares or 7.1 percent. Chapel Hill Denham Management accounted for 14.849 billion shares or 6.8 percent just as Rencap Securities Limited traded 12.252 billion shares or 5.5 percent while Meristem Securities Limited accounted for 3.783 billion shares or 1.7 percent.

The Nigerian stock market ended the reviewed year on a negative note as its index dropped by 16.1 percent compared with a growth of 47.2 percent in 2013.

Some market operators attributed the lackluster performance of the market to the security situation, the falling oil price and the devaluation of the national currency as well as against the backdrop of the next month’s general elections.