Greenwich, Stanbic IBTC Lead As 10 Brokers Trade N686.22bn in 2016

Ten stock broking firms on the Nigerian Stock. Exchange (NSE) has showed a total transaction valued at N686.22 billion in 2016.
The top 10 stockbrokers accounted for 62.69 percent of the total value traded between January 3, 2016 and December 12, 2016.
Also, they traded 103.63 billion shares, representing 69.40 per cent of the total volume traded on the stock market for the year.
Meanwhile, the market closed the year with negative market turnover as volume and value turnover declined by 19.61 per cent and 42.63 per cent to close at 149.32 billion units and N1.09 trillion.
Market watchers attributed the level of transaction in 2016, to current market trend on the state of political, economic and financial situations in the country.
On the outlook for 2017, they said, the developments in the global oil market, liquidity level in the foreign exchange markets, and realignments in fiscal and monetary policies would dictate trading pattern and performance of stock market in 2017.
According to the data on the performance of stockbrokers between January and December, 2016, obtained from the website of the stock exchange, yesterday, Stanbic IBTC Stockbrokers Limited topped traded shares valued at N168.72 billion, representing 15.41 per cent of the value of the year. Closely followed, Rencap Securities traded N123.65 billion, accounting for 11.30 per cent of the total value.
EFCP Limited traded shares valued at N100.5 billion, representing 9.18 per cent of total while CSL Stockbrokers Limited with N86.82 billion.
Others are, FBN Securities Limited with N57.43 billion, Chapel Hill with N39.12, Greenwich Trust with N37.98 billion, A.R.M. Securities with N25.43 billion, Cardinalstone Securities with N24.56 billion and African Alliance Stockbrokers with N22.01 billion.
For the volume traded for the year, Rencap Securities topped with 37.02 billion shares, which accounted for 24.79 per cent of the exchange’s total trading volume. It was followed by Stanbic IBTC Stockbrokers with 11.18 billion shares and CSL Stockbrokers with 8.54 billion shares, representing 7.49 per cent and 5.72 per cent of total volume, respectively.
Also, Capital Asset traded 8.47 billion shares, while Global Asset and Vetiva Capital followed with 7.98 billion shares and 7.66 billion shares, respectively.
Others are Rencap Securities with 7.51 billion shares, EFCP with 5.26 billion shares, FBN Securities with 5.23 billion shares and Cardinalstone. Securities with 4.77 billion shares.
Receiving the award for the ‘Best Dealing Member on the Nigerian Stock Exchange’, the chief executive, Stanbic IBTC Stockbrokers Limited, Mrs. Titi Ogungbesan, said the award reflects the company’s consistent performance over the years, a feat made possible from a robust strategy to set clear values, objectives and processes to ensure that investors derive optimal value from their investments.
The company, she said, will continue to leverage on the stellar reputation and expertise of the Standard Bank Group, to which Stanbic IBTC belongs, to provide robust services in the capital market.

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