Only ten (10) stockbroking firms in Nigeria’s capital market traded equities worth N1.170trillion in year 2020. This amount represents 53.87percent of the value of stocks exchanged in the review year.
This is even as only ten (10) stockbroking firms exchanged 94.527billion shares or 48.75percent of the entire equities exchanged in 2020.
In the review year, Nigeria’s equities market surged 50percent– its best performance in over a decade and well above its global peers – as local investors shifted from risk-free to riskier assets. Despite that stocks rose to record highs last year, the positive sentiment is expected to be carried on as scarcity of investment alternatives continues to present equities as a worthwhile choice.
Stanbic IBTC Stockbrokers Limited led other firms in the value of stocks it traded which amounted to N218.140billion or 10.04percent of the total value of stocks traded in 2020, according to broker performance report at Nigerian Stock Exchange (NSE) which covered from January 1 to December 31, 2020.
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Other stockbroking firms and the value of stocks they traded are: EFG Hermes Nigeria Limited (N208.857billion or 9.61percent); Rencap Securities (Nig) Limited (N183.662billion or 8.45percent); and Cardinalstone Securities Limited (N126.635billion or 5.83percent); CSL Stockbrokers Limited (N96.011billion or 4.42percent); and Chapel Hill Denham Securities Limited (N88.030billion or 4.05percent).
The Top Ten league by value of equities transacted last year includes Cordros Securities Limited (N69.268billion or 3.19percent); and Meristem Stockbrokers Limited (N67.705billion or 3.12percent); FBN Quest Securities Limited (N61.638billion or 2.84percent); and ABSA Securities Nigeria Limited (N50.384billion or 2.32percent).
In terms of volume of shares traded last year, Inter State Securities Limited led others, accounting for 19.291billion units of traded equities or 9.95percent of the entire stocks exchanged on the Nigerian Bourse in 2020.
Others are: Cardinalstone Securities Limited (14.008billion units or 7.22percent); EFG Hermes Nigeria Limited (10.871billion units or 5.61percent); Morgan Capital Securities Limited (10.312billion units or 5.32percent); and Stanbic IBTC Stockbrokers Limited (8.148billion units or 4.20percent).
The list of Top Ten stockbroking firms in terms of quantity of stocks they traded also includes Rencap Securities (Nigeria) Limited (7.262billion units or 3.75percent); Meristem Stockbrokers Limited (7.080billion units or 3.65percent); Chapel Hill Denham Securities Limited (6.700billion or 3.46percent); CSL Stockbrokers Limited (5.924billion units or 3.06percent); and Apel Asset Limited (4.924billion units or 2.54percent).
