By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Stanbic IBTC Stockbrokers Ltd, CSL Stockbrokers Ltd and Rencap Securities Nigeria Ltd emerged the top three (3) stockbroking firms responsible for 41.84 percent out of 72.51 percent of the total value between February 02 and 27, 2015 by the top 10 Stockbrokers, the Nigerian Stock Exchange (NSE) said in its broker performance report.
The review shows that the 72.51 percent which accounted for N133.435 billion by the top 10 brokers, the trio accounted for N77.0 billion.
In terms of percentage, Stanbic IBTC reported 17.53 percent amounting to N32.268 billion; CSL Stockbrokers had 12.29 percent which amounted to N22.968 billion and Rencap Securities 11.82 percent amounting to N21.754 billion.
A breakdown of the other seven (7) top brokers in terms of value in the review period showed that EFCP Ltd had 10.39 percent, African Alliance Stockbrokers 5.03 percent, FBN Securities 4.34 percent and Apel Asset 3.36 percent all accounting for N19.117 billion, N9.248 billion, N7.982 billion and N6.183 billion respectively.
The others are Chapel Hill Denham 3.07 percent, Vetiva Capital Management 2.55 percent and Partnership Securities Ltd 1.94 percent all amounting to N5.646 billion, N4.694 billionN3.562 billion respectively.
In terms of top 10 stockbrokers responsible for 58.23 percent of the total volume in the month of February, Rencap, CSL and Stanbic IBTC also emerged the top three (3) accounting for 35.77 percent of the total volume in the review period.
A breakdown of these shows that Rencap had 15.05 percent, CSL Stocbrokers 11.09 percent and Stanbic IBTC 9.63 percent; all amounting to 5.534 billion shares out of 9.009 billion recorded in the review period of February.
The other top 7 brokers accounted for 3.475 billion, a breakdown of which shows that EFCP Ltd had 5.75 percent, A.R.M Securities 3.66 percent, FBN Securities 2.86 percent and African Alliance 2.85 percent; all amounting to 890 million, 567 million, 443 million and 441 million unit of shares respectively.
The others are Cordros Capital Ltd 2.76 percent, Partnership Securities 2.43 percent and Apel Asset 2.14 percent accounting for 427 million, 376 million and 332 million unit of shares respectively.
