Stanbic, RenCap, EFCP account for over N350bn equities deal in eleven months

Only three stockbroking firms –Stanbic IBTC Stockbrokers Limited, Rencap Securities (Nig) Limited, and EFCP Limited accounted for N352billion worth of equities transaction in the eleven months period ended November 30, 2016.

The Nigerian Stock Exchange (NSE) which tracks the stockbrokers performance said between January and November, Stanbic IBTC Stockbrokers Limited accounted for over N144.6billion worth of equities trading; Rencap Securities (Nig) Limited accounted for equities deal valued at N112.074billion; while EFCP Limited accounted for N95.450billion.

Cumulatively, only ten stockbroking firms accounted for N619.423billion, representing 62.04percent of the total value of stocks traded on the Nigerian Stock Exchange within that period. Some of these stockbroking firms have foreign and institutional investors as their major clientele.

NSE data shows that over eleven months, stocks transactions by CSl Stockbrokers Limited were valued at N83.165billion; FBN Securities Limited (N47.311billion); while Greenwich Trust Limited accounted for N36.326billion worth of equities transaction in eleven months to November.

Chapel Hill Denham Securities Limited accounted for N32.680billion; A.R.M Securities Limited (N23.588billion); Cardinalstone Securities Limited (N22.620billion); and African Alliance Stockbrokers Limited (N21.589billion).

In volume terms, ten stockbrokers were responsible for 97,980,659,870 units or 70.91 percent of the total volume of traded stocks between January and November 2016.  Details show Greenwich Trust Limited accounted for 34,631,833,711 units, Stanbic IBTC Stockbrokers Limited accounted for 9,062,694,022 units, and Capital Assets Limited accounted for 8,464,081,851 units.

Also, CSL Stockbrokers Limited accounted for 8,323,375,452 units; Global Asset Management-Nigeria Limited 7,975,958,600 units;  Vetiva Capital Management Limited (7,556,707,255 units);  Rencap Securities (Nig) Limited (7,122,943,373 units); FBN Securities limited (5,132,749,322 units) EFCP Limited (5,074,224,428 units); and PAC Securities Limited (4,636,091,856 units).

Iheanyi Nwachukwu