Ten stockbroking firms on the Nigerian Stock Exchange (NSE) traded N334.92 billion shares in the month of August.
However, the bullish outlook of the Nigerian stocks market softened in August on profit-taking activities majorly by the domestic investors. The NSE All Share Index dropped by 0.96 per cent compared to a gain of 8.24 per cent in July
The figure, which was contained in the NSE Brokers Performance Report for the month of August showed the 10 top stockbrokers were responsible for 84.38 per cent of the total value between August 1 to August 31, 2017.
Also, in the review month, top 10 stockbrokers traded a total of 8.36 billion shares, accounting 55.88 per cent of the total volume of the shares traded.
The report revealed that Stanbic IBTC traded 2.17 billion shares, which accounted for 14.48 per cent of the exchange’s total trading volume. It was followed by CSL Stockbrokers Limited with 1.1 billion shares and Meristem Stockbrokers with 1.03 billion shares, representing 7.02 per cent and 6.86 per cent of total volume, respectively.
Also, Coronation Securities, traded 997.94 million shares, accounted for 6.67 per cent of the total while Rencap Securities, followed with 964.51 million shares represented 6.45 per cent of the total.
Others are Newdevco Finance with 563.95 million shares, FBN Securities Limited with 449.17 million shares, Greenwich Trust with 435.28 million shares, Cardinalstone Securities with 357.77 million shares and ARM Securities Ltd with 345.16 million.
Topping the table of top 10 brokers by value, Stanbic IBTC Stockbrokers Limited traded shares valued at N132.67 billion, representing 33.42 per cent of the value of month’s value. Closely followed, Meristem Stockbrokers traded N90.49 billion, accounting for 22.80 per cent of the total value.
Rencap Securities, which ranks number three on the table of top 10 brokers, traded shares valued at N48.71 billion, representing 12.27 per cent of total while CSL Stockbrokers Limited with N15.14 billion value of trading.
Others are, ARM Securities with N10.03 billion, EFCP with N9.12 billion, Coronation Securities with N8.79 billion, FBN Securities with N7.96 billion, Chapel Hill Denham Securities with N7.04 billion and Cardinalstone Securities with N4.98 billion.
Analysts at APT Securities and Funds Limited said, “We expect NSEASI outing in September to stage an uptick as investors are most likely going to take advantage of the current valuations to position. We also expect some actions by the government to impact the equities market.”