CSL Stockbrokers Limited, Stanbic IBTC Stockbrokers Limited, RenCap Securities Nigeria Limited and seven other stockbroking firms accounted for 7,069,375,866 units of stocks traded on the Nigerian Stock Exchange (NSE) in January 2019.
The other seven stockbroking firms are: Meristem Stockbrokers Limited, FBN Quest Securities Limited, Cardinalstone Securities Limited, Primera Africa Securities Limited, Morgan Capital Securities Limited, EFCP Limited, and Chapel Hill Denham Securities Limited.
This record volume of stocks they traded from January 2nd to 31st, 2019 represents 56.63percent of the total volume of stocks traded on the NSE in the review month, according to broker performance report at the Bourse.
CSL Stockbrokers Limited topped the league with a record 1,352,302,029 units of traded equities, representing 10.83percent; Stanbic IBTC Stockbrokers Limited followed after a record 1,053,504,885 units which it traded in January alone representing 8.44percent; while Rencap Securities (Nigeria) Limited accounted for 825,283,681units or 6.61percent.
Others are: Meristem Stockbrokers Limited (710,192,753 units or 5.69percent); FBN Quest Securities Limited (621,045,304units or 4.97percent); and Cardinalstone Securities Limited (588,768,282units or 4.72percent).
Also on the top ten list include Primera Africa Securities Limited (532,265,694units or 4.26percent); Morgan Capital Securities Limited (508,141,112units or 4.07percent); EFCP Limited (440,166,706units or 3.53percent); and Chapel Hill Denham Securities Limited (437,705,420units or 3.51percent).
Despite that the performance gauge of Nigerian stock market showed a decline of about 2.78percent in January 2019, many investors still made money because of their decisions to either hold or buy some stocks.
The stock market opened this year with record value of N11.721trillion but stood at N12.057trillion at the close of trading on Wednesday February 13. Ahead of the expected recovering in second-half (H2) of 2019, many smart investors are strategically buying value stocks following the bear reign in the market which pushed many equities to new lows.
These investors positive outlook for the stock market in H2 comes on the heels of many analysts reiterating their bearish outlook for this H1 amid political uncertainties which cloud investors’ sentiment as the election draws nearer.
As value-investing strategy remains the key to approaching on Custom Street in 2019, investors are seen selecting companies that are in good business with sound fundamentals, whose share prices are trading below their fair values. Also considered are in the investors’ stock picks are equities with history of dividend payment.
Amid this record loss, investors made money from stocks like C&I Leasing Plc which gained 407.87percent in January. Also in the review month that just ended, Cement Company of Northern Nigeria Plc was up by 23.71percent; Julius Berger Nigeria Plc (+29.35percent) and Sterling Bank Plc (+25.79percent).
Our trend watch also showed others stocks which investors who never sold till January 31 made money from. They are: ABC Transport Plc (+17.24percent); Africa Prudential Plc (+6.98percent); AGLeventis Plc (+7.41percent); AIICO Insurance Plc (+1.59percent); Carverton Plc (+14.58percent). Cornerstone Insurance Plc advanced by 10 percent, Custodian & Allied Plc (+9.73percent); Cutix Plc (+9.76percent); Dangote Cement Plc (+0.16percent); Diamond Bank Plc (+3.21percent); and FCMB Group Plc (+4.23percent).
Fidelity Bank Plc gained 8.37percent last month; Forte Oil Plc (+2.79percent); John Holt Plc (9.09percent); Learn Africa Plc (+0.74percent); Livestock Feeds Plc (+8.16percent); AXA Mansard Plc (+3.83percent); Mutual Benefit Plc (+4.76percent); Okomu Oil Palm Plc (+7.61percent); Prestige Assurance Plc (+4percent); RedStar Express Plc (+19.05percent); and Regency Alliance Plc (4.76percent); and Royal Exchange Plc (+31.82percent).
Sunu Assurance Plc stock price advanced last month by 10 percent; Total Nigeria Plc (+10percent); Transnational Express Plc (+6.15percent); Union Bank of Nigeria Plc (+11.61percent); United Capital Plc (+12.41percent); Union Dicon Plc (+20percent); Vita Foam Plc (+9.09percent); Lafarge Africa Plc (+0.40percent); and Wema Bank Plc (+3.17percent).
