NSE: Top 10 brokers handled N71billion transactions in October

As the nation’s capital market settles to absorb the recent shock largely precipitated by a combination of recent regulatory sanctions on some listed companies and the flow of unimpressive third quarter reports, the Nigerian Stock Exchange has disclosed that the 10 top stockbroking firms were responsible for transactions worth N71 billion in the month of October.

The revelation, which was contained in the Exchange’s Brokers Report for the period under review also showed that the trio of Stanbic IBTC, Rencap Securities and FBN Securities emerged as the top three broking firms in terms of the value of their transactions on the NSE in the month of October.

According to the breakdown given by the NSE, Stanbic IBC topped the trading for the month in terms of value of the shares traded, which was put at N 13,512 billion, representing 12.65 per cent of the total transactions for the month.

In terms of ranking, Rencap Securities came second pulling transactions worth N12.7 billion, amounting to 11.86 per cent of the total value of transactions for the period. It was followed closely by FBN Securities Limited, which handled transactions whose value was put at N12.34 billion, which translates to 11.55 per cent of the deals for the period of October. CSL Securities, which recorded N9, 87billion for the period, representing 9.22 per cent, followed in that order.

[ThisDay]

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