Stanbic, Rencap Dwarf Others As Nigerian Stockbrokers Trade Over N50 Billion In August

The All-share index of the Nigerian Exchange recorded a 1.74% growth in the month of August 2021 to close at 39,219.61 index points from 38,547.08 recorded as of the end of July 2021. The bourse had endured a significant downturn earlier in the year as the year-to-date performance stood at -2.61%.

Meanwhile, the top 10 best performing stockbroking firms for the month of August, traded a total of 4.99 billion units of shares valued at N50.73 billion. This is according to broker performance report, released by the Nigerian Exchange Group (NGX).

The value of shares traded represents a 6.38% increase compared to N47.69 billion recorded in the previous month and a 6.5% decline compared to N54.26 billion recorded in June 2021. On a year-on-year basis, it declined by 11.71% compared to N57.46 billion recorded in the corresponding period of 2020.

According to the report, Stanbic IBTC Stockbrokers led the list by value of shares traded with N15.77 billion, while Morgan Capita; Securities with 998.91 million shares traded led the elite list for the month by volume.

Top stockbrokers by value

The top 10 performing stockbroking firms in August traded a total of N50.73 billion worth of shares, accounting for 55.53% of the total value of shares traded in the month.

• Stanbic IBTC Stockbrokers Limited led the list, having traded in stocks worth N15.77 billion. This represents 17.27% of the entire value of shares traded on the floor of the exchange in August 2021. It also leads in terms of year-to-date volume with N136.45 billion.
• Rencap Securities Limited with a total value of N6.79 billion worth of shares traded in August, stands in second position, accounting for 7.44% of the total shares traded at the exchange. The firm however, seats in third position, in terms of year-to-date performance with N77.98 billion worth of shares.
• • EFG Hermes NIG Limited traded stocks worth N5.66 billion and accounted for 6.19% of the total value of shares traded in the month of August 2021. The stockbroking firm has traded N51.18 billion worth of shares year-to-date.
  • Cardinalstone Securities accounted for 5.19% of the value of shares recorded in the period with N4.74 billion worth of shares traded. Year-to-date trade stands at N81.34 billion in second place.
  • APT Securities and Funds traded in stocks worth N3.45 billion in August, accounted for 3.77% of the total value of stocks traded in the review month.
  • Others on the list include, Cordros Securities with N3.35 billion (3.67%), Imperial Asset Managers N3.13 billion (3.43%), Meristem Stockbrokers N3.03 billion (3.32%), Stonex Financial Nigeria N2.63 billion (2.88%), and Chapel Hill Denham Securities with N2.17 billion (2.38%).

  Top stockbrokers by volume

  The top performing stockbrokers by volume, traded in 46.95 billion units of shares in the month, representing 41.74% of the total shares traded in the stock market in the review period.

  • Morgan Capital Securities tops the list with 998.9 million units of shares, which represents 9.57% of the total volume traded in the month.
  • Second on the list is Stanbic IBTC Stockbrokers with trades in 852.41 million units of share, accounting for 8.16% of the total shares traded in the stock market in August.
  • Regency Assets Management followed closely with 816. 6 million units of shares traded, representing 7.82% of the total volume recorded.
  • Cardinalstone Securities Limited traded in 582.71 million units of shares, to stand in fourth position and accounted for 5.58% of the total volume.
  • Meristem Stockbrokers accounted for 4.56% of the total volume having traded a total of 476.08 million units of shares to stand in fifth position.
  • Others on the list include, APT Securities and fund (415.54 million), Greenwich Trust Limited (243.74 million), CSL Stockbrokers (232.35 million), Global Asset Management (186.48 million), and Futureview Securities (184.41 million).

  What you should know

  The stock market is beginning to pick up momentum from the downturn recorded in the first half of the year, as the All-share index grew by 1.74% in the month of August reducing the year-to-date performance to -2.61% as of 31st August 2021.