Stanbic IBTC stockbrokers outperform peers as value of transaction hits N407.15 billion

by | January 16, 2018 2:11 am

Stanbic IBTC Stockbrokers (SISB) Limited has outperformed peer rivals in terms of value as it traded N403.4 billion or 15.85 percent of the total value of shares traded on the Nigerian Stock Exchange (NSE), according brokers performance report.

Data from the report shows the top 10 stockbrokers on the Nigerian Stock Exchange traded 53.24 percent of the total number of shares traded in 2017. They also traded 75.23 percent or N1.9 trillion of the total value of shares traded on the NSE in 2017.

SISB has been Nigeria’s largest Stockbroking firm in terms of transaction value for 11 consecutive years while leading the transaction volume chart in 2013 and 2014.

The firm attributes the stellar performance to its reputation for excellence, excellence in execution, research, sales and in sourcing for block flows amid a tough and volatile macroeconomic environment.

SISB says it will continuously use technology to rebuild the retail investors’ confidence in the Nigerian equity market.

There has been an increase in the level of transaction executed in the equities market since the introduction of the Investors’ and Exporters’ (I and E) window by the central bank.

The liberalization of the foreign exchange market bolstered investor confidence in the economy as foreign portfolio investment into the country increased.

Nigeria Foreign portfolio investment (FPI), year on year witnessed a turn of fortune as it jumped to the highest since 2014 in the third quarter of 2017, rising 200.07 percent to $2.7 billion from $920 million recorded in the third quarter of 2016.

NSE emerged as world second best performing stock market for 2017, Its 41 percent year to date return (YTD) as of Friday- last closing day of the year is behind Argentina’s Buenos Aires Stock Exchange Merval Index (+89% year-to date), and Hong Kong Hang Seng (+34.53).

The main equity index has surged 12 percent this year in dollar terms, the most among 96 major bourses tracked by Bloomberg, pushing it to the highest level since 2008.

Further analysis of the brokers performance report shows Meristem Stock Brokers Limited traded N338.6 billion or 13.30 percent of the total value of shares traded on the NSE. CSL Stockbrokers Limited traded shares valued at N312.7 billion or 12.29 percent of shares of the entire value of shares traded on the NSE.

Stanbic IBTC Stockbrokers Limited (SISL) is a wholly-owned subsidiary of Stanbic IBTC Holdings Plc, and a member of The Standard Bank Group. CSL Stockbrokers Limited is a fully owned subsidiary of FCMB Group and has over 30 years operating history on the Nigeria Stock Exchange.