The Nigerian Stock Exchange (NSE) ended 2019 bearish as All-Share index posted a loss of 14.09%. This marks the second year straight of losses after it ended 2018 with a loss of 17.81%.
However, the top ten stockbroking firms on the NSE traded N1.35 trillion worth of shares in full-year 2019 (January and December).
The report, which was obtained from the Stock Exchange by Nairametrics, disclosed that top 10 stockbroking firms accounted for 53.85% (85.5 billion shares) of the total volume of stocks traded on the NSE and N1.35 trillion (70.14%) of the total value of traded shares in 2019.
Top 10 stockbrokers by value
- Stanbic IBTC Stockbrokers Limited led the pack of the stockbrokers. On the Exchange, the firm traded the largest volume of shares worth N336.9 billion that represent 17.49% of the total value traded in the year.
- Rencap Securities (Nig) Limited pulled shares worth N239.4 billion, representing 12.42% of total traded shares.
- EFG Hermes Nig. Limited traded N188.5 billion (9.97%) worth of shares.
- CSL Stockbrokers Limited ranks 4th, trading N119.5 billion (6.20%) worth of stocks.
- Tellimer Capital Limited traded shares worth N103.6 billion, representing 5.38% of total value traded.
- Chapel Hill Denham Securities Limited traded N83.08 billion shares, representing 4.31% of total traded shares.
- APT Securities and Funds traded N77.6 billion, representing 4.03% of total share value traded.
- FBN Quest Securities Limited is next on the list with N72.2 billion, amounting to 3.75% of the total value of traded shares on the NSE.
- Coronation Securities Limited is 9th on the list with N66.5 billion traded shares.
- Last on the list is Meristem Stockbrokers Limited, with N63.99 billion or 4.03% of total stocks traded in 2019.
Top 10 stockbrokers by volume
- In terms of volume, Stanbic IBTC Limited also comes top spot with 13.8 billion worth of shares, representing 8.75% of the total value of traded shares in 2019.
- Qualinvest Capital Limited ranks second and traded 12.40 billion stocks or 7.81% of total volume traded.
- Rencap Securities (Nig) Limited comes third with 9.12 billion traded stocks or 5.74% of the total volume traded.
- EFG Hermes Nig. Limited traded 8.77 billion shares in the year, representing 5.52% of the total volume traded on the NSE.
- CSL Stockbrokers Limited traded 7.80 billion stocks or 4.91% of total shares traded to rank 5th.
- Cardinalstone Securities Limited is next on the list with 7.53 billion or 4.75% of the total value traded.
- Greenwich Trust Limited ranks the 7th with 7.53 billion shares traded, thereby accounting for 4.47% of the total share volume traded.
- Morgan Capital Securities traded 6.83 billion (4.30%) volume of stocks in 2019
- Chapel Hill Denham Securities Limited traded 6.79 billion shares, which accounted for 4.28% of the total volume traded.
- Lastly, FBN Quest Securities Limited traded 4.82 billion (3.04%) shares in 2019.
Overall market performance in 2019
Nigerian stocks posted negative returns every month in 2019 except for February +0.92% making the year the worst since 2016.
- Basically, the All-Share Index posted double-digit losses every month from July to December 2019. The worst month for Nigerian Stocks was in November 2019 posting a negative Year to Date return of 16.48%.
- In May 2019, stocks rallied to a month on month gain of 6%, the highest for the year, before falling back into negative territory as investors’ appetite waned.
- The swearing-in of the Buhari led government did little to assuage investors as concerns mounted for the economy.
- Cornerstone Insurance was the best stock posting a return of 125%. This was followed by AG Leventis and Thomas Wyatt with 104% and 65% respectively. Access Bank posted the best amongst banks and Blue Chip stocks with a return of 47%. Zenith, FBNH, UBA, and GTB all closed the year in the red.
- The worst stock for the year was International Breweries posting a negative return of 69%. All brewery stocks also posted losses.