By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-The top 10 brokers at the Nigerian Stock Exchange (NSE) has contributed 63.43 percent to total market value in the month of August according to the NSE’s broker performance report for the review period.

The 63.43 percent represents N86.199 billion in terms of cash value to the Nigerian bourse between August 01 to August 29, 2014.

Top on the list of the 10 top brokers in the review period include: Stanbic IBTC Stockbrokers Limited contributing 19.11 percent worth N25.969 billion to market value.

Coming second on the list is RENCAP Securities Nigeria Limited contributing 11.34 percent valued at N15.408 billion; the third position was occupied by CSL Stockbrokers Limited contributing 10.70 percent valued at N14.669 billion.

Others on the list of the NSE’s 10 top brokers for the month of August are FBN Securities Limited N7, 989 billion, Chapel Hill Denham Management Limited N5, 114 billion and Marina Securities Stockbroking Services Limited N4, 074.

While African Alliance Stockbrokers Limited recorded N3,986 billion, Partnership Securities Limited N3,518 billion, WSTC Securities Limited N2,986 billion and INVESTMENT ONE Stockbrokers International Limited reporting N2,482 billion to market value for the month of August at the Nigerian bourse.

Similarly, Stanbic IBTC, Rencap Securities and CSL Stockbrokers led the NSE’s top 10 brokers in volume in the review period; all 10 contributed 54.54 percent of the total market volume.

In the period, the 10 top brokers in volume were responsible for 5.940 billion units of shares that exchanged hands at the Nigerian bourse.

Stanbic IBTC, Rencap Securities and CSL Stockbrokers brokered on 1.194 billion 957 million and 937 million unit of shares contributing 10.37 percent, 8.79 percent and 8.61 percent respectively to total volume of transactions at the Nigerian equities market in the month of August.