…THISDAY gathered that most firms\u2019 transactions were inflow from Foreign Portfolio Investors (FPIs), domestic\/institutional investors, Pension Funds Administrations and stock exposure in mutual funds as the stock market continued to rally in the first half of 2023 amid decisive government policies.<\/p>\n
<\/p>\n
Their major clients are foreign portfolio investors, while a few of them have significant stock exposure through collective Investment Schemes (CIS) at which they access a high volume of trading every day.<\/p>\n
<\/p>\n
Before now, analysts have noted that these firms have some of the most diversified portfolios of clients which other firms are envious of.<\/p>\n
<\/p>\n
The activities of these big stockbroking firms have made the stock market tilt towards oligopoly- a market dominated by few buyers and sellers who create room for a sort of imperfect competition, in order to accrue greater revenue and market share.<\/p>\n
<\/p>\n
The Exchange currently has 224 stockbroking firms, including those classified by Securities and Exchange Commission (SEC) as sub-broker.<\/p>\n
<\/p>\n
The NGX stockbrokers\u2019 performance report between January and June of 2023 revealed that top on the list of the 10 top stockbrokers in the review period…<\/p>\n
<\/p>\n
United Capital Securities came fourth after trading N85.5billion or 5.87per cent in the period under review.<\/strong><\/span><\/p>\n <\/p>\n <\/p>\n In terms of volume traded, United Capital Securities Limited and nine others traded 76.345billion or 57.64 per cent volume of transactions in the first six months of 2023.<\/strong><\/em><\/span><\/p>\n <\/p>\n