Ten Stockbroking Firms Facilitate Trading of $709 million in One Month

The Nigerian equities market is set for another impressive performance in terms of turnover value, as 10 stockbroking firms traded securities worth N254.4 billion in the month of January 2018.

According to the NSE report, the value is 64.4per cent of the total transactions between January 2 and January 31, 2018. Market operators said considering the high value of trading recorded in the first month of the year, the Nigerian bourse would end up with an impressive performance. The NSE had recorded a jump of 120 per cent in terms of trading value in 2017, rising to N1.271 trillion from N573 billion in 2016.

Meanwhile, an analysis of the top 10 performance in January showed that Stanbic IBTC Stockbrokers Limited, accounted for N67.1 billion or 17 per cent to lead the other stockbrokers in value terms. Also on the volume table, Stanbic IBTC Stockbrokers ended second position selling 3.97 billion shares or seven per cent of the total volume in the period under review.

CSL Stockbrokers Limited accounted for N56.995 billion or 14.4 per cent, while Rencap Securities Limited traded N29.376 billion or 7.4 per cent. United Capital Plc traded N28.449 billion or 7.2 per cent, just as FBN Quest Securities Limited accounted for 20.646 billion or 5.2 per cent.

Other top performers included: EFCP Limited (N19.755 billion or 5.0 per cent); Cardinalstone Securities Limited (N9.891 billion or 2.5 per cent); Chapel Hill Denham (N7.589 billion or 1.9 per cent); Investment One Stockbrokers International Limited (N7.463 billion or 1.9 per cent).

In terms of volume, the 10 stockbrokign firms accounted for 23.764 billion shares or 54.7 per cent.

Commenting on the performance, Chief Executive, Stanbic IBTC Stockbrokers Limited, Mrs. Titi Ogungbesan, said that the most important characteristics that have endeared the firm to clients are integrity, professionalism and painstaking execution capabilities.

“For us, ensuring optimal value to clients is the first consideration in our service delivery. We pride ourselves in the high quality of our equities research backed up by a dynamic sales team. We also leverage on the expertise and experience of Stanbic IBTC Group and the relationship with our parent company, the Standard Bank Group,” she said.

According to Ogungbesan, the firm does not only seek to execute transactions, it builds quality relationships with clients and other stakeholders, which is why investors naturally gravitate towards it.

Equally important, she stated, is the fact that the broker continues to deploy cutting-edge technology to provide innovative products and excellent services in a way to boost investor confidence in the market.

In 2016, it launched an online stockbroking service, the Stanbic IBTC e-Trade, which provides investors with real-time market information to enable them act quickly to give real-time mandates to buy or sell shares on the NSE. And through its yearly Standard Bank West Africa Investors’ Conference, which connects both local and foreign institutional investors to leading corporates across the region, it continues to showcase investment opportunities in the capital market as well as in the economy. Ogungbesan assured that the company will continue to strive for excellence to create value for investors and rebuild retail investor confidence using technology to drive it.

Source: Asoko