NSE: Five firms account for 51% transactions in 2014


…Stanbic IBTC, Meristem lead the pack


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

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