FBN Quest and Stanbic IBTC topped 10 largest brokerage firms in September 2021 – Nairametrics
The Nigerian stock market closed its trading activities on a bullish note in September 2021 as the All-Share Index (ASI) appreciated 2.55% to close at 40,221.17 basis points compared to 39,219.61 recorded as of August 31, 2021. Market capitalization also increased to reach 20.96 trillion naira.
According to the broker’s performance report released by the Nigerian Exchange Group (NGX), the top 10 performing brokerage firms for the month of September 2021 traded a total of 7.27 billion share units valued at 71 , 41 billion naira during the month of the review.
According to the report, FBN Quest Securities Limited was at the top of the list of best brokerage firms in terms of volume, as it traded around 1.84 billion units, while Stanbic IBTC Stockbrokers Limited was at the top of the list in terms of volume. of monetary value, as it traded for 14.55 billion naira. actions.
Stockbrokers in value
The top ten brokerage firms represented 60.01% of the total value of shares traded during the period under review. They are as follows:
Stanbic IBTC Brokers Limited topped the list of top brokerage firms with a total trade valued at N14.55 billion in September 2021. This represents 12.23% of the total value of shares traded during the period under review.
Meristem Stockbrokers Limited ranks second on the list with its trade valued at 13.42 billion naira, representing 11.28% of the total value of shares traded during the period.
FBN Quest Securities Limited followed in third place with their trade valued at 11.42 billion naira. This represents a 9.59% contribution to the total value of shares traded in the market for the month of September.
United Capital Securities Limited During the review month, their trade was valued at 7.11 billion naira, which represents a 5.98% share of the total value of shares traded in the market.
Cardinal Stone Securities Limited saw its trade valued at 6.97 billion naira representing 5.86% of the total value of shares traded on the stock exchange for the period.
Other successful brokerage firms include EFG Hermes Nig. Limited whose trade was valued at 4.99 billion naira, Rencap Securities (NIG) Limited valued at 4.31 billion naira, Chapel Hill Denham Securities Limited valued at 3.05 billion naira, CSL Stockbrokers Limited valued at 2, 82 billion naira and Investment One Stockbrokers Intl Limited valued at 2.79 billion naira.
Brokerage firms in volume
The top ten brokerage firms by volume traded 7.27 share units and contributed 57.05% of the total volume traded on the Nigerian Exchange Group.
FBN Quest Securities Limited at the top of the list of the best performing brokerage firms in terms of volume of trades carried out. They traded 1.84 billion share units representing 14.45% of the total volume traded in the market.
United Capital Securities Limited comes second with its trading volume of 1.66 billion units, which represents 13.06% of the total volume of securities traded on the market.
Meristem Securities Limited recorded transactions in 1.14 billion share units, representing 8.98% of the total volume of shares traded in the market.
Cardinal Stone Securities Limited traded in 663.4 million share units in September 2021. This represents 5.21% of the total shares registered on the local stock exchange.
Morgan Capital Securities Limited in fifth place on the list of top performers recorded 642.4 million units representing 5.04% of the total volume recorded in the market.
Others include APT Securities and Funds with trading volume of 336.9 million units, Global Asset Management Nig. Limited with trading of 264.2 million units, Networth Securities & Finance Limited (262.5 million), Stanbic IBTC brokers Limited (242.96 million) and EFG Hermes Nig. Limited to 206.96 million share units traded.
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The NGX ASI appreciated by 2.55% in September 2021, bringing the cumulative performance to a decrease of -0.21%.
Some of the sub-indices that have performed exceptionally well during the review period include the Industrial Goods Index (+ 7.23%), the Premium Index (+ 6.9%) and the NGX 30 Index ( 3.57%).