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Business News of Monday, 11 October 2021

Source: tribuneonlineng.com

10 brokers traded 60.01% shares in September

The top ten stockbroking firms accounted for 60.01 per cent of the total value of shares The top ten stockbroking firms accounted for 60.01 per cent of the total value of shares

According to the Broker’s Performance Report published by the Nigerian Exchange Group (NGX), the top 10 performing stockbroking firms for the month of September 2021 traded a total of 7.27 billion units of shares valued at N71.41 billion in the review month.

The top ten stockbroking firms accounted for 60.01 per cent of the total value of shares traded within the period under review.

Stanbic IBTC Brokers Limited led the list of top stockbroking firms with a total trade valued at N14.55 billion in September 2021. This represents 12.23 per cent of the total value of shares traded during the period under review.

Meristem Stockbrokers Limited stands second on the list with its trade valued at N13.42 billion which represents 11.28 per cent of the total value of shares traded during the period.

FBN Quest Securities Limited followed in third place with their trade valued at N11.42 billion. This represents a 9.59 per cent contribution to the total value of shares traded in the market for the month of September.

United Capital Securities Limited in the review month, had their trade valued at N7.11 billion leading to a 5.98 per cent share in the total value of stocks traded in the market.

Cardinal Stone Securities Limited saw its trade valued at N6.97 billion representing 5.86 per cent of the total value of shares traded in the Stock exchange for the period.

Other performing stockbroking firms include EFG Hermes Nig. Limited whose trade was valued at N4.99 billion, Rencap Securities (NIG) Limited valued at N4.31 billion, Chapel Hill Denham Securities Limited valued at N3.05 billion, CSL Stockbrokers Limited valued at N2.82 billion and Investment One Stockbrokers Intl Limited valued at N2.79 billion.

The top ten stockbroking firms in terms of volume traded in 7.27 units of shares and contributed 57.05 per cent to the total volume traded on the Nigerian Exchange Group.

FBN Quest Securities Limited tops the list of top-performing stockbroking firms in terms of the volume of trade carried out. They traded in 1.84 billion units of shares representing 14.45 per cent of the total volume traded in the market.

United Capital Securities Limited came in second on the list with their volume of trade at 1.66 billion units which represented 13.06 per cent of the total volume of securities traded in the market.

Meristem Securities Limited recorded trades in 1.14 billion units of shares, accounting for 8.98 per cent of the total volume of traded shares in the market.

Cardinal Stone Securities Limited traded in 663.4 million units of shares in September 2021. This represents 5.21 per cent of the total stocks trade recorded in the local bourse.

Morgan Capital Securities Limited in fifth place on the list of top performers recorded 642.4 million units representing 5.04 per cent of the total volume recorded in the market.

Others include APT Securities and Funds whose volume of trade stood at 336.9 million units, Global Asset Management Nig. Limited with trade in 264.2 million units, Networth Securities & Finance Limited (262.5 million), Stanbic IBTC brokers Limited (242.96 million), and EFG Hermes Nig. Limited with 206.96 million units of traded stocks.