Business News of Friday, 2 April 2021
Source: nairametrics.com
The Nigerian Stock market ended the first quarter of 2021 bearish as the All-Share Index dipped by 3.04% from 40,270.42 points recorded as of December 31st, 2020 to close at 39,045.13 points at the end of Q1 2021.
Meanwhile, the top-performing stockbroking firms in the Nigerian Stock Exchange, traded about 30.16 billion units of shares with a value of N357.48 billion, accounting for 52.63% of the total value of shares traded in the period.
This is according to the Broker performance Report, released by the Nigerian Stock Exchange for the first quarter of 2021.
According to the report, Cardinalstone Securities led the list of stockbroking firms by volume of shares while Stanbic IBTC Stockbrokers traded the highest in monetary terms for the period under review.
Stockbrokers by value
The top ten Stockbrokers were responsible for 52.63% of the total amount of shares traded in Q1 2021, trading a total of N357.48 billion worth of shares.
Stanbic IBTC Stockbroker retains the top position in this category, having traded in stocks worth N88.2 billion between January and March 2021, representing 12.99% of the total value of shares traded during this period.
Cardinalstone Securities stood at second on the list with trades in stocks valued at N47.36 billion, accounting for 6.97% of the total value of shares traded in the first quarter of the year.ABSA Securities Nigeria followed closely with its total trades valued at N41.53 billion in the period under review. This represents 6.12% of the total value recorded in the Stock Exchange market.
Rencap Securities also traded in stocks worth N35.81 billion, to stand fourth on the list as it accounted for 5.27% of the recorded trades in monetary terms.EFG Hermes traded a sum of N31.1 billion worth of stocks, which accounted for 4.58% of the total value for the period.
Others include; ESTC Securities (N26.4 billion), Meristem Stockbrokers (24.35 billion), FBN Quest Securities (N24.05 billion), Apel Asset Limited (20.56 billion), and Cordros Securities (18.11 billion).