THE NIGERIAN STOCK MARKET AND THE ROLE OF STOCKBROKERS IN THE STOCK PRICING: (CASE STUDY OF APEX SECURITIES ENUGU

ABSTRACT

Stock Market facilitates the buying and selling of securities, such as shares and bonds. They also perform two valuable functions, which is liquidity and pricing securities.

A stockbroker is one whose job is to buy and sell stocks and shares. This project will probe into the objective and importance of stock market and the role of stockbrokers in terms of stock pricing.

Questionnaires were used in collecting data for this research. The following findings were made:

(1) Stockbrokers are quite different from investors

(2) Stockbrokers and investors are partners in progress and it such co-operate is desirable.

(3) The prices of stock are not stable at all.

(4) Nigerian Stock Exchange is underdeveloped.

(5) Inadequate infrastructures used in issuing houses highlighted hinder the progress of this business like other businesses.

TABLE OF CONTENTS

Title page II

Approval page III

Dedication IV

Acknowledgement V

Table of contents VI

List of tables X

Abstract XII

Chapter One

1.0 Introduction 1

1.1 Background of the Study 2

1.2 Statement of the problem 9

1.3 The purpose of the study 9

1.4 Scope or delimitation of the study 10

1.5 Research questions 11

1.6 Hypothesis 12

1.7 Significance of the study 13

Chapter Two

2.0 Review of Literature 14

2.1 The Nigerian Capital Market 15

2.2 The Nigerian Stock Exchange 19

2.3 Functions of the Stock Exchange 22

2.4 Dealing on the Exchange 24

2.5 Problems of the Nigerian Stock Exchange 35

2.6 Pricing on the primary market 38

2.7 Pricing on the Secondary Market 44

2.8 Pricing of Securities 45

2.9 Factors affecting stock prices 46

2.10 Stockbrokers. 48

2.11 Types of Brokers 49

2.12 Summary of Literature Review 52

Chapter Three

3.0 Methodology 53

3.1 Research Design 53

3.2 Area of Study 53

3.3 Population of the study 54

3.4 Sample and sampling 54

3.5 Instrument for data collection 55

3.6 Validation of the Instrument 55

3.7 Reliability instrument 56

3.8 Method of data collection 56

3.9 Method of analysis. 57

Chapter Four

4.0 Presentation Analysis and Interpretation of Data 59

4.2 Summary of findings. 79

Chapter Five

5.0 Discussion, Implication and Recommendations 80

5.1 Discussion of the Results 80

5.2 Conclusion 84

5.3 Implication of the Results ` 85

5.4 Recommendations 85

5.5 Suggestions for further research 87

5.6 Limitations of study 87

References 89

Appendices I 91

Appendices II 92

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APA

T0gOSTL5c0005cdc49c47.77861884, Q. (2018). THE NIGERIAN STOCK MARKET AND THE ROLE OF STOCKBROKERS IN THE STOCK PRICING: (CASE STUDY OF APEX SECURITIES ENUGU. Afribary. Retrieved from https://beta.afribary.com/works/the-nigerian-stock-market-and-the-role-of-stockbrokers-in-the-stock-pricing-case-study-of-apex-securities-enugu-6015

MLA 8th

T0gOSTL5c0005cdc49c47.77861884, QQXlA1z5c0005cdbe9d75.44641593 "THE NIGERIAN STOCK MARKET AND THE ROLE OF STOCKBROKERS IN THE STOCK PRICING: (CASE STUDY OF APEX SECURITIES ENUGU" Afribary. Afribary, 29 Jan. 2018, https://beta.afribary.com/works/the-nigerian-stock-market-and-the-role-of-stockbrokers-in-the-stock-pricing-case-study-of-apex-securities-enugu-6015. Accessed 24 Apr. 2025.

MLA7

T0gOSTL5c0005cdc49c47.77861884, QQXlA1z5c0005cdbe9d75.44641593 . "THE NIGERIAN STOCK MARKET AND THE ROLE OF STOCKBROKERS IN THE STOCK PRICING: (CASE STUDY OF APEX SECURITIES ENUGU". Afribary, Afribary, 29 Jan. 2018. Web. 24 Apr. 2025. < https://beta.afribary.com/works/the-nigerian-stock-market-and-the-role-of-stockbrokers-in-the-stock-pricing-case-study-of-apex-securities-enugu-6015 >.

Chicago

T0gOSTL5c0005cdc49c47.77861884, QQXlA1z5c0005cdbe9d75.44641593 . "THE NIGERIAN STOCK MARKET AND THE ROLE OF STOCKBROKERS IN THE STOCK PRICING: (CASE STUDY OF APEX SECURITIES ENUGU" Afribary (2018). Accessed April 24, 2025. https://beta.afribary.com/works/the-nigerian-stock-market-and-the-role-of-stockbrokers-in-the-stock-pricing-case-study-of-apex-securities-enugu-6015

THE NIGERIAN STOCK MARKET AND THE ROLE OF STOCKBROKERS IN THE STOCK PRICING: (CASE STUDY OF APEX SECURITIES ENUGU

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