Top Ten Stockbroking Firms Traded Stocks Worth N541.2 billion in H1 2021

In the first half of the year, ten top stockbroking firms dominated, handling equities transactions valued at about N541.2billion.

This was achieved despite a bearish first half on the Nigerian Exchange — a selloff that occurred mostly due to investors moving their funds into fixed income and less volatile investments.

According to the Broker Performance Report released by the Nigerian Exchange Group for the half-year period of 2021, these to ten firms have raked in a fortune from fees and commission charges as they processed trades of 39.34 billion units of shares valued at N541.21 billion in the said period.

The volume of shares traded in the review period represented 42.78% of the total trades registered. In terms of value, it accounted for 52.11% of the total.

In contrast to the corresponding previous periods, the value of N541.21 billion represents a decline as against N597.44 billion and N772.15 billion recorded in H1 2020 and H1 2019 respectively.

According to the report, Cardinalstone and Morgan Capital led the list by volume while Stanbic IBTC and Investment One stood on top by value.

Stockbrokers by value

Accounting for 52.11% of the total value of shares traded in the bourse, the top 10 stockbroking firms traded in shares valued at N541.21 billion.

• Stanbic IBTC Stockbrokers led the list, with trades valued at N112.09 billion, having led the same category in the corresponding periods of 2019 and 2020. The firm accounted for 10.79% of the total value of traded stocks in the half-year period.
• Investment One followed in second place with trade valued at N72.41 billion, representing 6.97% of the total recorded trades.
• Cardinalstone Securities, having led the list by volume, stands third by value with trades in stocks valued at N70.65 billion, 6.8% of the total trades.
• Rencap Securities also recorded trades in stocks valued at N65.49 billion, while EFG Hermes follows with N46.22 billion.
• Others include Absa Securities (N43.16 billion), Meristem Stockbrokers (N42.64 billion), FBN Quest Securities (N33.33 billion), WSTC Securities (N29.48 billion), and Apel Asset (N25.76 billion).

Stockbrokers by volume

The top 10 performing stockbroking firms by value traded a total of 39.34 billion units of shares, accounting for 42.78% of the total traded stocks in H1 2021.

• Cardinalstone Securities led the list with a total of 7.32 billion units of shares traded, representing 7.96% of the total, while Morgan Capital followed closely, having traded 6.93 billion units of shares.
• Meristem Stockbrokers stands third on the list with 5.45 billion units of shares traded during the period, accounting for 5.93% of the total.
• Stanbic IBTC Stockbrokers traded in 4.55 billion units of shares, to stand in fourth place, while Atlass Portfolios in the fifth position traded 3.73 billion units of shares.
• Others on the list include GTI Securities (3.18 billion), Greenwich Trust (2.21 billion), Lighthouse Capital (2.18 billion), FBN Quest Securities (1.89 billion), and CSL Stockbrokers (1.88 billion).