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About 55.31 percent of the total shares traded on the Nigerian Stock Exchange (NSE) between January May 2019, was carried out by 10 stockbroking companies. The stockbrokers traded about 39.09 billion units of shares, valued at N537.966 billion.

The Broker Performance Report by the NSE for the period under review showed that the top ten stockbrokers on the stock exchange traded 68.60 percent of the total value of shares transacted in that period.

Breakdown: Stanbic IBTC Stockbrokers Limited is on top of this list, with transactions worth about N134.99 billion. This represents 17.21 percent of the total value of transactions.

This is followed by RenCap Securities with about N95.54 billion worth of transactions. This also represents 12.8 percent of the total value of transactions.

CSL Stockbrokers followed next with transactions worth N59.08 billion, while Coronation Securities performed transactions worth about N52.84 billion.

EFCP Limited, pulled transactions worth N52.7 billion, while other stockbrokers like namely Chapel Hill Denham Securities, EFG Hermes, FBN Quest Securities, CardinalStone Securities, and Meristem Stockbrokers (in the order listed above), pulled transactions valued at N34.78 billion, N33.96 billion, N30.44 billion, N28.56 billion and N15.06 billion.

The volume of shares sold: For the volume of shares sold, Greenwich Trust tops the list with 6.95 billion shares, representing 9.83 percent of the total volume of shares sold during the period.

Stanbic IBTC Stockbrokers comes second with 6.77 billion shares, while Cardinal Stone Securities came third place with 4.19 billion shares.

Others are RenCap SecuritiesCSL StockbrokersChapel Hill Denham Securities, Morgan Capital, FBN Quest Securities, Meristem Stockbrokers, and EFG Hermes Nigeria. they all transacted about 4.08 billion shares, 4.06 billion shares, 3.44 billion shares, 3.15 billion shares, 2.27 billion shares, 2.16 billion shares, and 2.03 billion shares, respectively.

About the NSE: The Nigerian Stock Exchange (NSE) was established in 1960 as the Lagos Stock Exchange. In 1977, its name was changed from the Lagos Stock Exchange to the Nigerian Stock Exchange. As of May 31, 2018, it has 169 listed companies with a total market capitalization of over ₦13 trillion. All listings are included in the Nigerian Stock Exchange All Shares index.

In terms of market capitalization, the Nigerian Stock Exchange is the second largest stock exchange in Africa.

Source: See the top 10 stockbroking firms on the NSE as of May 31st, 2019

By Adaobi Nnadiukwu

Techylawyer nor its authors claim to have written this article, we acknowledge the works of the original author

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