…Stanbic IBTC, Meristem lead the pack
BY OMODELE ADIGUN
As the management of the Nigerian Stock Exchange (NSE) presented its score card for 2014 , data obtained from the bourse showed that five top stocbroking firms accounted for 51 per cent equity transactions valued at N1.362 trillion during the period.
The companies are Stanbic IBTC Stockbroking Limited, CSL Stockbrokers Limited, Rencap Securities Limited, Chapel Hill Denham and Meristem Securities Limited.
Analysis of the data, which reflects trading statistics on the Nigerian bourse between January 2 and December 31, 2014, showed that the five firms traded 71 billion ordinary shares valued at N1.362 trillion
Stanbic IBTC Stockbroking Limited led the pack with N472.415 billion or 17.5 per cent, followed by CSL Stockbrokers Limited with transactions worth N262.988 billion or 9.7 per cent, Rencap Securities Limited, traded equities worth N246.98 billion or 9.2 per cent, Chapel Hill Denham Management Limited accounted for N223.849 billion or 8.3 per cent while Meristem Securities Limited traded shares valued N156.210 billion or 5.8 per cent.
In volume terms, Stanbic IBTC Stockbrokers maintained the lead, recording 24.781 billion shares which represented 11.42 per cent, while CSL Stockbrokers traded 15.339 billion shares or 7.1 per cent. Chapel Hill Denham Management accounted for 14.849 billion shares or 6.8 per cent just as Rencap Securities Limited traded 12.252 billion shares or 5.5 per cent while Meristem Securities Limited accounted for 3.783 billion shares or 1.7 per cent.
The Nigerian stock market ended the reviewed year on a negative note as its index dropped by 16.1 per cent compared with a growth of 47.2 per cent in 2013.
Some market operators attributed the lackluster performance of the market to the security situation in parts of the country, the falling oil price and the devaluation of the national currency as well as concerns over next month’s general elections.
Source : SunOnline