Fri. Nov 22nd, 2024

Investors Trade 203 million Stocks Via Morgan Capital in One Week

Morgan Capital

By Dipo Olowookere

Morgan Capital Securities maintained its position as one of the favourite brokerage firms operating in the nation’s stock market last week.

The company ended the week as the most active stockbroker by volume as investors bought and sold a total of 203.2 million units of securities through the organisation, accounting for 11.45 per cent of the total trading volume of 887.0 million shares recorded in the week. Of this total number of stocks traded last week, 10 brokers contributed 855.9 million units.

Data obtained by Business Post from the exchange showed that Meristem Stockbrokers helped investors to trade 150.4 million units, accounting for 8.47 per cent, while EFG Hermes recorded 100.4 million units which accounted for 5.66 per cent, with Rencap Securities posting 76.4 million units which accounted for 4.30 per cent, and Coronation Securities, which traded 70.8 million units and accounted for 3.99 per cent.

CardinalStone Securities traded 61.7 million (3.47 per cent), United Capital Securities transacted 56.2 million shares (3.17 per cent), Stanbic IBTC Stockbrokers exchanged 51.7 million equities (2.91 per cent), FSL Securities traded 46.2 million stocks (2.60 per cent), while Quantum Zenith Securities and Investment transacted 39.0 million shares (2.20 per cent).

These top 10 stockbrokers were responsible for 48.22 per cent of the total volume recorded between April 6 and 9, 2021.

But in terms of value, Rencap Securities topped the chart as the most active brokerage company after it assisted market participants to trade shares worth N5.4 billion, accounting for 24.40 per cent of the N14.1 billion worth of equities traded by 10 brokerage companies last week at the exchange.

Chapel Hill Denham Securities occupied second place with N1.7 billion, accounting for 7.47 per cent. Meristem Stockbrokers traded N1.4 billion and accounted for 6.26 per cent, EFG Hermes exchanged shares worth N1.4 billion and accounted for 6.07 per cent, while Stanbic IBTC Stockbrokers transacted stocks valued at N816.3 million and accounted for 3.66 per cent.

United Capital Securities traded N772.2 million equities and accounted for 3.46 per cent, CardinalStone Securities exchanged N702.4 million stocks and contributed 3.15 per cent, Imperial Asset Managers traded N700.6 million shares and contributed 3.14 per cent, Morgan Capital transacted N668.0 million stocks and accounted for 2.99 per cent, while Coronation Securities exchanged N602.8 million equities and contributed 2.70 per cent.

The above top 10 brokerage companies were responsible for 63.30 per cent of the total value of shares traded by investors between April 6 and 9, 2021.

By Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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