19 February 2013

Nigeria: 10 Stockbroking Firms Account for N25.312 Billion

Lagos — Ten of the 269 stockbroking firms operating on the floor of the Nigerian Stock Exchange (NSE) accounted for N25.312 billion trading activities, representing 54.60 per cent of the total value traded between February 11 and 15.

According to an NSE data obtained by Daily Trust, Stanbic IBTC Stockbrokers Limited, Zenith Securities Limited and Cordros Capital Limited led other stock broking firms.

The three stockbrokers accounted for N14.712 billion translating to 31.73 per cent of the total cash value traded on the Exchange last week.

Stanbic IBTC traded N12.412 billion representing 26.78 per cent; Zenith Securities Limited traded N1.224 billion or 2.64 per cent while Cordros Capital Limited traded N1.076 billion representing 2.32 per cent.

Other firms are FBN Securities Limited, Meristem Securities Limited, ARM Securities Limited, Rencap Securities Limited, CSL Stockbroker Limited, BGL Securities Limited and Partnership Investment Coy Limited.

However, ten stockbroking firms traded 2.652 billion shares transforming to 31.21 per cent of the entire trading activities done on the floor of the Exchange last week.

NSE data shows that Stanbic IBTC Stockbroking firm also led the volume traded with 585.545 million shares representing 6.89 per cent of market activities followed by BGL Securities Limited with 447.929 million or 5.27 per cent and CSL Stockbroking Limited which accounted for 340.061 million or 4 per cent of the entire market trading.

Other firms on the top ten are Meristem Securities Limited, Resort Securities & Company Limited, Cashcraft Asset Management Limited, Peace Capital Market Limited, APT Securities and Funds Limited, Rencap Securities Limited and Marina Securities Limited.

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