Value of shares traded by top 10 stockbrokers up 133% despite COVID-19

It appears that more investors are really confident in the Nigerian Stock market despite the pandemic. This is because, between July 20 and July 24, the top 10 stockbroking firms in the country traded a total volume of shares valued at N21.95 billion.

This represents 73.75% of the total value traded within the period, according to the Broker Performance Report that was released by the Nigerian Stock Exchange over the weekend.

The document also disclosed the top 10 stockbrokers by volume of shares traded within the same period. These stockbrokers traded 1.86 billion shares, which represents 68.93% of the total volume of shares traded last week.

What it means

The value and volume of shares traded last week are really indicative of investors’ confidence in the market. It should be noted that the value of shares traded by the top 10 stockbrokers increased from N9.42 billion in the previous week (July 13 – 17) to N21.95 billion last week. This represents an increase of 133%.

The total volume of shares also witnessed an increase of over 600 million shares, having risen from 1.26 million shares to 1.86 billion shares within the same period under review.

Top 10 Stockbrokers by Value

 EFG HERMES NIG. LTD: Top on the list with the most value of stocks traded is EFG Hermes Nigeria Limited. The value is N6.10 billion, accounting for 20.5% of the total value of shares traded during the period.

• Stanbic IBTC Stockbrokers Limited: Next on the list is Stanbic IBTC Stockbrokers which recorded transactions valued at N5.74 billion, thereby representing 19.28% of the total value of shares traded.

• FBNQUEST Securities Limited: FBNQuest took the third spot with the value of its transactions standing at N2.50 billion. This marked an 8.40% contribution to the total value of shares traded over the course of the period.

• Meristem Stockbrokers Limited: The total value of transactions by Meristem Stockbrokers stood at N1.68 billion, accounted for 5.63% of the total value of shares traded in the period.

 Cardinal Stone Securities Ltd: Cardinal Stone Securities transacted in shares valued at N1.48 billion as well, representing 4.96% of the total traded shares during the period under review.

Other stockbroking firms that made the top ten list include Cordros Securities Limited (N1.05 billion), A.R.M Securities Limited (N989.10 million), Nigerian International Securities Limited (N875.18 million), CSL Stockbrokers (N845.18 million) and Reading Investment Limited (N692.20 million.)

Top 10 Stockbrokers by Volume of shares traded

• FBNQUEST Securities Limited: FBNQuest carried out total trades of 322.86 million units of shares which represents 11.95% of the total units traded in the week.

• EFG Hermes Nig. Ltd.: Next on the list is EFG Hermes which traded 292.96 million units of shares, thereby accounting for 10.85% of the total shares traded in the period under review.

• Stanbic IBTC Stockbrokers Ltd.: Third on the ranking is Stanbic IBTC which traded 267.94 million units of shares last week and this came to a total contribution of 9.92%.

 Meristem Stockbrokers Limited: Meristem Stockbrokers traded 263.88 million units of shares over the course of the period and this contributed 9.77% to the overall volume of shares traded in the period.

• Cordros Securities Limited: Cordros Securities traded 184.97 million units of shares to stand in the fifth position, accounting for 6.85% of the total volume of shares.

Other stockbrokers that made the list include: Cardinalstone Securities Limited (121.75 million units), PSL Capital Limited (115.97 million units), Heritage Capital Ltd (100.70 million units), United Capital Securities Limited (96.17 million units), and A.R.M Securities Limited (94.56 million units.)



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