Shares transactions from top dealing firms hit N683b in 9 months

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Factual Pursuit of Truth for Progress

 

Ten top dealing firms in the Nigerian capital market ended the first nine months of the year 2021 (January-September) with an exchange of 52.578 billion shares worth N683.285 billion.

It was also revealed that the 10 stockbrokers were responsible for 51.03 per cent of the total value between January 4, 2021 and September 30, 2021.

Also, the stockbrokers were responsible for 41.98 per cent of the total volume during the period under review.

Analysis of the transactions revealed that Stanbic IBTC Stockbrokers Limited dominated with 11.28 per cent or N151.000 billion exchanged in 6.117 billion shares.

Cardinal Stone Limited followed with a record of N88.312 billion or 6.59 per cent in 9.094 billion shares. Rencap Securities Limited accounted for N82.288 billion or 6.15 per cent. Investment One Stockbrokers Limited traded N77.913 billion or 5.82 per cent, while Meristem Stockbrokers Limited accounted for N65.299 billion or 4.88 per cent traded in 7,579 billion shares.

EFG Hermes Nigeria Limited traded N58.169 billion or 4.34 per cent. FBN Quest Securities Limited traded N47.498 billion or 3.55 per cent exchanged in 3,988 shares while ABSA Securities Limited exchanged N43.628 billion or 3.26 per cent.

WSTC Securities Limited staked shares worth N37.238 billion or 2.78 per cent while Cordros Securities Limited traded N31.935 billion or 2.38 per cent.

Market operators have continued to express concerns over low positive sentiment in the nation’s bourse.

As the Nigerian and global investment climate continues to be challenged, foreign investments have continued to dwindle and foreign investors, whose countries are also economically challenged, move their funds back home where earnings are rising.

According to Managing Director, Cowry Asset Management Limited,Nkoli Edoka,to encourage more retail investors to come back to the market, the returns matrix must favour equities against fixed income. “This means that interest rates must be significantly below their current levels. Lower interest rates should however be preceded by lower inflation rates and more stable exchange rates.

There is also the need to allow credits back to the capital market. The current CBN policy, which has made lending for capital market activities unprofitable for banks, should be amended to allow for responsible lending to market operators.

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