In spite of the impact of coronavirus on the Nigerian economy, total transactions executed by the top ten brokers amounted to N463.84 billion in the first four months of this year. The top ten brokers accounted for 61.33 percent of the total market value. This implies that the totality of transactions on the exchange within the first 120 days of this year was N756.30 billion.
Stanbic IBTC Stockbrokers led the transaction value chart, as it traded N109.07 billion worth of transaction to account for 14.42 percent of the total market value. EFG Hermes executed N91.52 billion worth of transactions, representing 12.10 percent. Rencap Securities accounted for 8.87 percent of the market value, having executed N67.06 billion worth of shares. It was followed by CSL Stockbrokers which traded N48.43 billion worth of shares representing 6.40 percent of the entire market value.
Cardinal Stone traded N33.66 billion worth of shares which amounted to 4.45 percent of the market value. Tellmer Capital ranked 6th having traded N27.53 billion worth of transactions, representing 3.64 percent.
ChapelHill Denham was 7th following the execution of N26.77 billion trade which represented 3.54 percent of the market value. FBN Quest executed N19.95 billion worth of shares, amounting to 2.64 percent of the total market value. Cordros Securities and Meristem Stockbrokers are 9th and 10th on the market value table. The former traded N19.94 billion trade while the latter traded N19.93 billion trade representing 2.64 percent and 2.63 percent of the total market trade respectively.
In terms of volume of shares, the top ten stockbrokers traded 30.19 billion shares which amounted to 47.80 percent of the total volume traded on the Nigerian Stock Exchange from January to April 2020.