BY BUSAYO SAMUEL
Ten leading stockbroking firms (investment and stockbroking) in the Nigerian stock market were responsible for about 51 percent of business dealings in the equities segment of the market in the first 10 months of the year ending October 30, 2021.
The top stockbrokers as known in the stock exchange parlance crossed deals worth about N787billion in the period with Stanbic IBTC Stockbrokers Limited, a whole subsidiary of the Stanbic IBTC Group, leading the pack with 10.53 percent of transaction value.
The market makers accounted for about 42 percent of trade in terms of volume in the review period as total volume of equities transacted on behalf of their clients (corporate and individual) stood at about 60.01billion units.
Morgan Capital Securities Limited, MCSL, emerged the biggest driver of volume as it accounts for 7.36 percent of trade with 10.36billion units of equities.
Stanbic IBTC Stockbrokers Limited which has maintained its leading position over the years among the top 10 dealing firms listed on the Nigerian Exchange Limited (NGX) as it traded 6.44billion units of shares worth about N163.42billion year to date (January-October 2021).
Cardinalstone securities Limited emerged second largest deal broker as t accounted for over N100.99billion, representing 6.51 percent of total turnover value.
The firm equally was bullish in volume with over 10.40billion units of shares traded in 10 months, accounting for 7.2 percent of volume. Cardinal stone was the second largest volume driver in the market in the review period.
After Cardinal stone emerged Rencap Securities (Nig) Limited on the value table with N89.18billion representing 5.74 percent of total value. The securities firm did not have a place on the volume chart as it did not appear on the top 10 league.
Investment One Stockbrokers International Limited which recently made its way into the league of the leading stockbroking firms in Nigeria occupied the fourth position on the turnover value table with N80.93billion representing 5.21 percent of gross value but was nowhere to be found on the volume side among the top 10 players.
Among the top five value drivers in the market was Meristem Stockbrokers Limited which accounted for 4.75 percent of value with about N73.68billion. On the volume side, the company occupied the third position among the 10 leading volume drivers, accounting for 5.96 percent of turnover volume or 8.61billion units while Stanbic IBTC Stockbrokers Limited accounted for 4.46 percent of volume with about 6.44billion units of shares.
Among the top 10 value drivers in the period is EFG Hermes Nigeria Limited with N69.84billion representing 4.5 percent of total value, occupying the 6th position while FBN Quest Securities Limited ranked 7th with N69.2billion or 4.33 percent of value.
Others are Cordros Securities Limited, N49.32billion accounting for 3.18 percent of value; Apel Asset Limited, N48.12billion or 3.10 percent and ABSA Securities Nigeria Limited with N44.03billion accounting for 2.84 percent of value.
On the flipside was FBN Quest Securities Limited on the 5th position on the volume chart with 5.26billion or 3.64 percent while APT Securities and Funds followed with 4.34billion.
Others on the top 10 league of volume drivers are Atlass Portfolios Limited, 4.21billion; GTI Securities Limited, 3.75billion; United Capital Securities Limited, 3.25billion and Apel Asset Limited, 3.22billion accounting for 2.23 percent of turnover volume.
