Meristem Stockbrokers’ 6billion Shares Lift NSE By N339bn — Leadership Newspaper
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Meristem Stockbrokers’ 6billion Shares Lift NSE By N339bn

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Meristem Stockbrokers Limited facilitated the trading of  6.978 billion shares worth N338.611 billion on the Nigerian Stock Exchange (NSE) in 2017.

Data released by the NSE have shown that Meristem Stockbrokers’ performance in value terms was the second best among the top stockbroking firms operating in the market.

Analysts have said that last year was a very good year for the Nigerian stocks market and for the first time in three years, the NSE closed the year on the positive note, as the NSE All-Share Index returned 42.30 percent year-on-year. Market capitalisation grew positively to close at N13.61 trillion as opposed to N9.25 trillion recorded at the end of 2016. The volume of transactions appreciated by 6.94 percent and market value by 108.50 percent.

Stanbic IBTC Stockbrokers Limited, a subsidiary of Stanbic IBTC Holdings, which is a member of the Standard Bank Group of South Africa, occupied the first position with N403.491 billion being the value of 15.375 billion shares handled by the firm.

While Stanbic IBTC accounted for 15.8 per cent of the value of shares traded last year, Meristem Stockbrokers accounted for 13.3 per cent.

Market analysts said the performance of Meristem in particular was highly commendable considering the fact that it is company without the backing of any banking group or foreign or foreign affiliation.

The third position was occupied by CSL Stockbrokers Limited, which is subsidiary of FCMB Holdings. The firm traded N312.789 billion, being the worth of 12.871 billion shares. In value terms, CSL accounted for 12.3 per cent.

Rencap Securities Limited,  a subsidiary of Renaissance Group, facilited N2334.624 billion  that was staked on 9.696 billion shares, while Cordros Securities Limited traded N218.409 billion invested in 7 .321 billion shares.

FBN Quest Securities Limited, a subsidiary of First Bank Group, occupied the sixth position, facilitating the investment of N89.159 billion committed to 5.662 billion shares.

A.R.M Securities Limited transacted N84.668 billion that was invested in 5.806 billion shares, just as EFCP Limited traded N84.392 billion .

United Capital Securities Limited facilitated N81.960 billion, staked on 30.392 billion shares. Chapel Hill Denham Securities Limited occupied the 10 th position, recording N66.877 billion.

In all, the top stockbroking firms  accounted for N1.915 trillion being 75.23 per cent of the year’s transactions in value terms. And in volume terms, the top 10 broking firms accounted for  N107.042 billion or 53.2 per cent.





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