10 Brokers Traded N98.430 Billion Shares in June

•   Rencap, Stanbic IBTC led volume , value tables respectively

Kunle Aderinokun

Activities on the floors of the Nigerian Stock Exchange (NSE) 2016 as measured by volume of trading by the top 10 stockbrokers for the month of June, totalled 7.218 billion shares . The volume of trading by these top 10 brokers represented 46.79 per cent of the total volume traded in the month under review.

Also, in the review month, top 10 stockbrokers traded a total of N98.430 billion worth of shares, accounting 62.95 per cent of the total value of the shares traded.

This NSE, which revealed this in its Broker Performance Report, showed that Rencap Securities (Nig) Limited traded 1.287 billion shares, which accounted for 8.34 per cent of the exchange’s total trading volume. It was followed by CSL Stockbrokers Limited with1.199 billion shares and Stanbic IBTC Stockbrokers Limited with 1.170 billion shares, representing 7.77 per cent and 7.59 per cent of total volume, respectively.

Ranking a distant fourth on the top 10 table, Morgan Capital Securities Limited, which traded 666.444 million shares, accounted for 4.32 per cent of the total while TRW Stockbrokers Limited, which followed with 553.006 million shares represented 3.58 per cent of the total.

Others are Primera Africa Securities Ltd with 540.710 million shares (3.51 per cent); FBN Securities Limited with 502.757 million shares (3.26 per cent); Cardinalstone Securities Limited with 482.540 million shares (3.13 per cent); Investment One Stockbrokers Intl Ltd with 475.665 million shares (3.08 per cent); and ARM Securities Ltd with 340.779 million (2.21 per cent).

Topping the table of top ten brokers by value, Stanbic IBTC Stockbrokers Limited traded shares valued at N22.480 billion, representing 14.38 per cent of the value of month’s value. Closely followed, Rencap Securities traded N22.420 billion, accounting for 14.34 per cent of the total value.

EFCP Limited, which ranks number three on the table of top 10 brokers, traded shares valued at N15.546 billion, representing 9.94 per cent of total while CSL Stockbrokers Limited with N13.852 billion value of trading (8.86 per cent) followed.

Others are: FBN Securities Limited with N5.148 billion (3.29 per cent); Investment One Stockbrokers Intl Ltd with N4.999 billion (3.20 per cent); African Alliance Stockbrokers Ltd with N4.679 billion (2.99 per cent); Primera Africa Securities Ltd with N3.456 billion (2.21 per cent); Cardinalstone Securities Limited with N3.055 billion (1.96 per cent); and Securities Africa Financial Limited with N2.790 billion (1.78 per cent).

Meanwhile, analysts at Dunn Loren Merrifield Asset Management Ltd in their assessment of activities at the stock exchange for the last week, which ended on Friday noted that, “for the most part of the week, profit-taking was at play as risk sentiment persists.”

According to them, “The two major factors that influenced overall market sentiments were: Britain’s decision to leave the European Union and uncertainty about the new CBN FX policy which is keeping foreign investors on the side-line.” “That said, we are of the view that the ability of listed companies to maximise revenues to boost their bottom lines at a period of slow economic growth appears to be presenting dark cloud for the market, prompting some investors to avoid risk,” they added.

The DLM analysts who stated that, “the index heavyweights finished on the downside,” pointed out that, “it was banking, consumer, and industrial goods sectors that grabbed the headlines as these sectors fell sharply by 5.38 per cent, 5.07 per cent and 4.50 per cent respectively.”

The NSE-ASI delivered -4.39 per cent week on week, while market capitalisation fell by N461.69billion. Activity level was also on the downside as value of traded equities on the bourse fell by 35.31 per cent.

Overall, 21 stocks recorded gains while 51 stocks recorded a decline during the week.

Julius Berger emerged as the best-performing stock rising by 15.75 per cent to close the week at N50.93 per share.