10 brokers contribut 63.43%market value in August 'As StanbicIBTC Brokers leads chart

The top 10 brokers at the Nigerian Stock Exchange (NSE) contributed 63.43 per cent to total market value in the month of August according to the NSE's broker performance report for the review period.The 63.43 per cent represents N86.20 billion in terms of cash value to the NSE between August 1 and August 29, 2014.Top on the list of the 10 top brokers in the review period include Stanbic IBTC Stockbrokers Limited contributing 19.11 per cent worth N25.97 billion to the market value.Trailing it was RENCAP Securities Nigeria Limited, which contributed 11.34 per cent valued at N15.41 billion; the third position was occupied by CSL Stockbrokers Limited, contributing 10.70 per cent valued at N14.669 billion.Others on the list of the NSE's 10 top brokers for the month of August are FBN Securities Limited N7, 989 billion; Chapel Hill Denham Management Limited, N5, 114 billion and Marina Securities Stockbroking Services Limited, N4, 074.While African Alliance Stockbrokers Limited recorded N3,986 billion, Partnership Securities Limited N3,518 billion; WSTC Securities Limited N2,986 billion and Investment One Stockbrokers International Limited reporting N2,482 billion to the market value for the month of August at the Nigerian bourse.Similarly, Stanbic IBTC, Rencap Securities and CSL Stockbrokers led the NSE's top 10 brokers in volume in the review period; all 10 contributed 54.54 per cent of the total market volume.In the period, the 10 top brokers in volume were responsible for 5.94 billion units of shares that exchanged hands at the Exchange.Stanbic IBTC, Rencap Securities and CSL Stockbrokers brokered on 1.19 billion, 957 million and 937 million unit of shares contributing 10.37 percent, 8.79 percent and 8.61 percent respectively to total volume of transactions at the Nigerian equities market in the month of August.Sent from my BlackBerry smartphone provided by Airtel Nigeria.
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