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 pageII Approval pageIII         DedicationIV        AcknowledgementV        Table of contentsVI        List of tablesX       AbstractXII      
Chapter One1.0Introduction11.1Background of the Study21.2Statement of the problem91.3The purpose of the study91.4Scope or delimitation of the study101.5Research questions111.6Hypothesis121.7Significance of the study13
Chapter Two2.0Review of Literature142.1The Nigerian Capital Market152.2The Nigerian Stock Exchange192.3Functions of the Stock Exchange 222.4Dealing on the Exchange242.5Problems of the Nigerian Stock Exchange352.6Pricing on the primary market382.7Pricing on the Secondary Market442.8Pricing of Securities452.9Factors affecting stock prices462.10Stockbrokers.482.11Types of Brokers492.12Summary of Literature Review52
Chapter Three3.0Methodology533.1Research Design533.2Area of Study533.3Population of the study543.4Sample and sampling543.5Instrument for data collection553.6Validation of the Instrument553.7Reliability instrument563.8Method of data collection563.9Method of analysis.57
Chapter Four4.0Presentation Analysis and Interpretation of Data594.2Summary of findings.79
Chapter Five5.0Discussion, Implication and Recommendations 805.1Discussion of the Results805.2Conclusion845.3Implication of the Results`855.4Recommendations855.5Suggestions for further research875.6Limitations of study87References89Appendices I91Appendices II92