BY BAMIDELE FAMOOFO
Top 10 stockbrokers in the Nigerian Exchange Limited were responsible for over N1 Trillion investment from investors in the equities market in 2021.
The stockbroking firms led by Stanbic IBTC Stockbrokers Limited accounted for 52.92% of total turnover value recorded in the market in the review period.
The top 10 Stockbrokers are responsible for 43.77% of the total volume between 02/01/2021 and 31/12/2021 led by Cardinalstone Securities Limited.
Stanbic IBTC Stockbrokers Limited, a member of the Stanbic IBTC Holdings Plc, sealed deals worth N211.93billion representing 11.11% of turnover value in the period. Cardinalstone Securities Limited apart from being the largest driver of turnover volume emerged the second leading revenue driver in the market with N143.60billion, accounting for 7.53% of total market turnover in the space of 12 months covering between January and December 2021.
Rencap Securities (Nig) Limited and EFG Hermes Nigeria Limited are two stockbroking companies and members of the top 10 stockbroking firms which contributed over 5% to turnover value in the review period. Specifically, Rencap Securities (Nig) Limited accounted for 5.61% of turnover value of the top dealing firms, attracting about N107.02billion from investors while EFG Hermes Limited also sealed deals worth N105.14billion, accounting for 5.51% of total turnover value.
Among the top revenue drivers in the Nigerian equities market in the period is Meristem Stockbrokers Limited, 89.46billion, representing 4.69% of total turnover value. Investment One Stockbrokers International Limited accounted for 4.41% of turnover value with about N84.14billion.
Other top revenue drivers in the top 10 list include APT Securities and Funds, N73.34billion or 3.84%; FBN Quest Securities Limited, N71.55billion representing 3.75%; APEL Asset Limited and Cordros Securities Limited, N68.95billion and N54.51billion representing 3.61% and 2.86% of value respectively.
On top of the turnover volume chart was Cardinalstone Securities Limited with 15.23billion units of shares representing 8.74% of turnover volume. The top 10 dealings firms collectively accounted for 76.27billion units of shares which represents 43.77% of the total volume transacted on the Exchange in 2021.
Morgan Capital Securities Limited emerged second largest volume driver in the year with 12.19billion shares representing 6.99% of total turnover volume traded by the top 10 top dealing firms.
Meristem Stockbrokers Limited and APT Securities and Funds occupied the third and fourth positions on the volume table with about 10billion and 8.76billion units of shares respectively. Stanbic IBTC Stockbrokers Limited which was the largest value driver occupied the fifth position on the volume table with about 7.5billion units of shares sold, accounting for 4.3% of total turnover volume.
Other dealing firms which featured on the top 10 volume cadre in 2021 are FBN Quest Securities Limited, 5.53billion representing 3.18%; APEL Asset Limited, 4.88billion or 2.8%; ATLASS Portfolios Limited, 4.56billion or 2.62%. GTI Securities Limited and EFG Hermes Nigeria Limited accounted for 2.24% and 2.13% of turnover volume at about 3.90billion and 3.72billion units of shares
respectively.
