Out of the 321 stockbroking firms
operating in the Nigerian capital market accounted for N15.203 billion of total
transactions value carried out in the market for the week ended August 22,
2014, data from the Nigerian Stock Exchange, NSE, has shown.
According to the data obtained by
Vanguard, their contribution represented 61.59 percent of total value traded
within the period.
Breakdown of their individual
contributions indicate that Rencap Securities (Nig.) Limited pooled the highest
transaction, posting N4.74 billion total transaction or 19.20 percent of value
traded in the market.
CSL Stockbrokers followed with
N2.880 billion or 11.67 percent; Stanbic IBTC Stockbrokers was the next with
N2.131 billion transactions, which represents 8.64 percent of the total value
traded in the week, while FBN Securities and Partnership Securities accounted
for N1.74 billion or 7.06 percent and N768.501 million or 3.11 percent of the
total value respectively.
Others were Chapel Hill Denham Mgt.
Limited, which posted N750.715 million or 3.04 percent of the transaction
value; Vetiva Capital Mgt. Ltd with N724.199 million emerged seventh on the
list; Cardinalstone Securities Limited pooled N538.336 million, while Marina
Securities Stockbroking Serv Ltd and Cordos Capital emerged ninth and 10th in
the list, accounting for N485.364 million or 1.97 percent and N441.048 million
or 1.79 percent transaction value respectively.
On the other hand, the top 10
dealing member firms also accounted for 48.57 percent or 1.001 million units of
the total volume traded within the same period with CSL Stockbrokers topping
other with 196.670 million units or 9.54 percent of the total volume traded
within the week.
Renacp Securities placed second with
136.769 million units or 6.64 percent of the total volume; Stanbic IBTC
Stockbrokers followed with 118.867 million units; FBN Securities accounted for
117.865 million shares; CardinalStone Securities accounted for 102.586 million
units, while Resort Securities & Trust accounted for 86.868 million units.
The duo of Vetiva capital and Chapel
Hill Denham were responsible for 142.63 million units traded within the week,
while Marina Securities Stockbroking Services and Meristem Securities Limited
were the last on the top 10 dealing firms in volume terms with 51.046 million
units and 48.051 million units respectively.
However, there is a general feeling
in the market that most of the stockbroking firms listed by the NSE as top 10
either value or volume terms are the ones that have foreign affiliates and are
favoured by foreign and institutional investors.
Vanguard
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