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Beltone tops EGX monthly rankings for brokerage firms in January

Beltone Securities leads pack in Egyptian stock market's January ranking for brokerage companies, with top-ten firms collectively accounting for more than half of market

Ahram Online, Sunday 3 Feb 2013
Traders work at the Egyptian stock exchange in Cairo January 3, 2013 (Photo: Reuters)
Views: 824
Views: 824

Beltone Securities Brokerage has succeeded in topping the Egyptian Stock Exchange's monthly ranking of brokerage firms. The firm led January rankings in terms of value traded on the main market, having leapt from fifth place in December with LE2.07 billion up to LE568 million in January.

Commercial International Brokerage Company (CIBC) came in second with LE1.56 billion, up from ninth place last December with LE228 million. Hermes Securities Brokerage placed third with LE1.45 billion, down from second place in December with LE736 million, while sister firm Financial Brokerage Group remained in fourth place with LE1.28 billion of value traded in January.

Pioneers Securities, which had topped December's main market ranking with LE918 million, dropped to sixth place this month with LE810 million. Arabeya Online Securities placed seventh, meanwhile, with LE577 million, down from third place last December with LE603 million.

Sigma Securities Brokerage, for its part, dropped two slots to eighth place in January, while Pharos Securities, HC Brokerage and Naeem Brokerage all made the January top ten, placing fifth, ninth and tenth respectively.

In terms of market share, the top ten brokerage firms accounted for 54 percent of the main market in January, down from the 66-per cent market share they had collectively held the previous month.

Since the outset of 2013, the Egyptian Stock Exchange's benchmark EGX30 index has gained 4.23 per cent.

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