Despite the economic impact of the Covid-19 pandemic, the top ten stockbroking firms in Nigeria traded a total of N597.4 billion worth of shares between January and June 2020.
The top ten stockbroking firms in Nigeria according to the Broker Performance Report released by the Nigerian Stock Exchange (NSE), traded a total of N597.4 billion and a total volume of 39.6 billion units of shares over the period of January to June.
Stanbic IBTC Stockbrokers Ltd.: Top on the list with the most value of stocks traded is Stanbic IBTC Stockbrokers Ltd with a value of N128.3 billion, accounting for 12.73% of the total value of shares traded during the period.
EFG Hermes Nig. Ltd.: Next on the list is EFG Hermes having transactions to the value of N118.5 billion, thereby representing 11.77% of the total value of shares traded.
Rencap Securities Nigeria Ltd.: Rencap took the third spot with the value of its transactions to the tune of N82.2 billion, making an 8.16% contribution to the total value of shares traded over the course of the period.
CSL Stockbrokers Ltd.: The total value of transactions made by CSL Stockbrokers stood at N63.5 billion and this accounted for 6.30% of the total value of shares traded in the period.
Cardinal Stone Securities Ltd.: Cardinal Stone Securities transacted in shares valued at N50.5 billion as well, representing a 5.02% of the total traded shares during the period under review.
Other stockbroking firms that made the top ten list include Chapel Hill Denham Securities (N34.2 billion), Tellimer Capital Limited (N33.5 billion), Cordros Securities (N31.4 billion), Meristem Stockbrokers Limited (N28.9 billion) and FBN Quest Securities Ltd (N26.2 billion.)
Cardinal Stone Securities Ltd.: Cardinal Stone came tops with trades of 6.2 billion units of shares which represents 7.37% of the total units traded in the first half of the year.
EFG Hermes Nig. Ltd.: Next on the list was EFG Hermes which traded 6.1 billion units of shares, thereby accounting for 7.28% of the total shares traded in the period under review.
Morgan Capital securities Ltd.: Third on the ranking is Morgan Capital which traded 5.7 billion units of shares in the period from January to June 2020 and this came to a total contribution of 6.76%.
Stanbic IBTC Stockbrokers Ltd.: Stanbic IBTC Stockbrokers traded 4.7 billion units of shares over the course of the period and this contributed 5.57% to the overall volume of shares traded in the period.
Rencap Securities Nigeria Ltd.: Rencap traded 4.5 billion units of shares to stand in the fifth position, accounting for 5.34% of the total volume of shares.