By Chinwendu Obienyi
Stanbic IBTC Stockbrokers Limited, Cardinalstone Securities Limited and eight other stockbroking firms traded stocks worth N112.8 billion, accounting for 48.37 per cent of the total value of shares traded in the month of January 2021.
This is according to the Broker Performance Report obtained from the Nigerian Stock Exchange (NSE)’s website yesterday. The NSE enjoyed a bullish start in January 2021, as the All-Share Index (ASI) closed at 42,412.66 index points, 5.32 per cent increase compared to 40,270.72 points recorded as of 31st December 2020.
The value of shares traded by the top firms in January 2021 represents an 18.3 per cent decline when compared to N138.1 billion recorded in the corresponding period of 2020. Stanbic IBTC Stockbrokers Limited stands top on the list having traded on stocks valued at N21.66 billion and accounting for 9.28 per cent of the total recorded trades. It however represents a decline of 39.4 per cent when compared to N35.76 billion recorded in January 2020.
Cardinalstone Securities Limited followed with trades on stocks worth N14.89 billion representing 6.39 per cent of the total trades. Absa Securities Nigeria Limited traded in stocks worth N14.6 billion, accounting for 6.26 per cent of the total value.
Rencap Securities Nigeria Limited made transactions worth N13.5 billion (5.79 per cent) to rank fourth on the list while EFG Hermes Nigeria Limited transacted in stocks valued at N11.74 billion. Others on the list include; Inter State Securities (N8.58 billion), Cordros Securities (N7.21 billion), Apel Asset (N7.17 billion), APT Securities (N7.11 billion), and Morgan Capital with N6.36 billion.
For stockbrokers by volume of shares, Stanbic IBTC topped the list with 2.58 billion units of shares, representing 9.41 per cent of the total volume of shares traded in the month of January. GTI Securities came second with 2.29 billion units of shares representing 8.35 per cent while Morgan Capital Securities followed with 2.24 billion units of shares which accounted for 8.18 per cent of the total. Inter State Securities ranked fourth with transactions in 1.52 billion units of shares. 5.56% of the total unit of shares traded in the month while Atlass Portfolios Limited pulled transactions in 1.52 billion units of shares to rank fifth.
Others include; Meristem Stockbrokers (1.43 billion), Cardinalstone Securities (1.37 billion), APT Securities (523.1 million), CSL Stockbrokers (436 million), and FBN Quest with trades in 408.3 million units of shares.
Meanwhile, the market continued to drive towards bearish sentiments as price depreciation in the shares of Ardova, Wapco and Zenith Bank drove the ASI down by 0.74 per cent to close at 42,043.79 points on Tuesday.