Chapel Hill Denham Closes as Most Active Stockbroker

By Dipo Olowookere

It was a good week for Chapel Hill Denham Securities Limited as it closed as the most active stockbroker at the Nigerian Stock Exchange (NSE).

Data obtained by Business Post showed that during the five-day trading week, the company transacted 309.7 million stocks, contributing 11.67 per cent of the 1.5 billion shares bought and sold through the top 10 brokerage firms in the week.

In the second place was Fortress Capital, which traded 256.1 million equities and contributed 9.64 per cent, while EFG Hermes Nigeria transacted 153.0 million stocks and contributed 5.76 per cent, with Rencap Securities trading 133.5 million shares, accounting for 5.03 per cent, and Meristem Stockbrokers, which traded 127.8 million stocks and accounted for 4.81 per cent.

Also, Stanbic IBTC Stockbrokers transacted 111.6 million shares (4.20 per cent), Cardinalstone Securities traded 106.4 million stocks (4.01 per cent), Trustbanc Capital exchanged 96.4 million stocks (3.63 per cent) in the week, Morgan Capital transacted 91.8 million shares (3.46 per cent), while FBN Quest Securities traded 80.6 million equities (3.03 per cent).

As earlier stated, these 10 brokers accounted for 1.5 billion units of the total trading volume of the week, amounting to 55.25 per cent.

In terms of the most active brokerage company by the value of trades in the week, Chapel Hill Denham Securities Limited also claimed the juiciest spot on the table after trading shares valued at N4.2 billion, contributing 14.78 per cent to the total value of shares transacted by investors.

Trailing closely was Rencap Securities, which recorded N3.8 billion in the week and contributed 13.53 per cent. EFG Hermes Nigeria traded N2.3 billion and accounted for 8.15 per cent, while Stanbic IBTC Stockbrokers transacted N2.1 billion and contributed 7.58 per cent, with Tellimer Capital exchanging shares worth N1.9 billion in the week and accounting for 6.69 per cent.

In the week, FBN Quest Securities traded N1.4 billion shares (5.08 per cent), Investment One Stockbrokers transacted N1.1 billion stocks (4.03 per cent), Cardinalstone Securities also traded N1.1 billion equities (4.02 per cent), CSL Stockbrokers exchanged N810.4 million shares (2.87 per cent), while market participants bought and sold N588.8 million worth of stocks through WSTC Securities in the week, contributing 2.09 per cent to the total value of transactions.

Business Post observed that these 10 companies traded N19.4 billion worth of stocks during the week, accounting for 68.82 per cent of the total trading value.