The Nigeria Stock Exchange (NSE) endured a very bearish performance in the first quarter of 2020, as the top 10 stockbroking firms accounted for 47.6per cent or 23.6 billion shares of the total volume of stocks traded on the NSE, and 62.45per cent or N391.86 billion of the total value of traded shares in the first quarter of 2020.
Stanbic IBTC Stockbroker Ltd was on top of the list with dealings on stocks valued at N93.25 billion, accounting for 14.86per cent of the total value of shares traded during the period.
EFG Hermes Nig. Ltd followed with transactions worth N78.28 billion. This represents 12.48 per cent of the total value of shares traded.
Rencap Securities Nigeria Ltd took the third spot on the list with stock transactions worth N58.34 billion. This represents a 9.3 per cent contribution to the total value of shares traded in the first quarter.
CSl Stockbrokers, whose transactions in the period were totalled at N38.41 billion, stood in the fourth position having accounted for 5.8 per cent of the total value.
Cardinal Stone Securities transacted in shares valued at N26.53 billion, thereby representing a 4.23 per cent of the total traded shares during the period under review.
Other stockbroking firms that contributed to the N391.9 billion include Tellimer Capital Limited (N24.37 billion), Chapel Hill Denham Securities (N24.02 billion), ARM Securities (N17.72 billion), Cordros Securities (N16.75 billion), and Meristem Stockbrokers Limited (16.17 billion).
EFG Hermes Nig. Ltd stood on top of the list, having traded some 4.22 billion units of shares, thereby accounting for 8.51 per cent of the total shares traded in the period under review.
Cardinal Stone Securities followed with trades of 3.32 billion units of shares, which represents 6.7 per cent of the total units traded in the first quarter of the year.
Stanbic IBTC Stockbrokers recorded total trades of 3.09 billion shares, accounting for 6.24 per cent of the total units traded.
Rencap Securities Nigeria Ltd traded 2.94 billion units of shares to stand in the fourth position, accounting for 5.93 per cent of the total.