Morgan Capital Emerges Most Active Stockbroker in April

May 8, 2020
Morgan Capital

By Dipo Olowookere

In the month of April 2020, Morgan Capital Securities Limited traded the highest number of stocks at the equity market.

According to data obtained by Business Post from the Nigerian Stock Exchange (NSE), the brokerage firm headed by Mr Muyiwa Adeyemi, contributed to 15.56 percent of the total volume of shares transacted at the exchange last month.

Morgan Capital is loved by investors at the market because of its low commission fee, which is about 0.50 percent. The highest commission charged by stockbrokers is 1.35 percent.

During the month, Morgan Capital led the activity chart by volume by transacting a total of 2.114 billion units of equities.

On the second spot was Atlass Portfolios, which traded 1.398 billion shares, contributing 10.29 percent to the total volume.

It was gathered that CardinalStone Securities traded 866.9 million units to the volume, representing 6.38 percent; RenCap Securities exchanged 858.1 million shares to contribute 6.32 percent; CSL Stockbrokers traded 846.2 million stocks to contribute 6.23 percent; Stanbic IBTC Stockbrokers sold equities 717.6 million to contribute 5.28 percent; Meristem Stockbrokers transacted 509.0 million shares to contribute 3.75 percent; FBN Quest Securities exchanged 456.1 million shares to contribute 3.36 percent; EFG Hermes traded 454.9 million equities to contribute 3.35 percent; while APT Securities and Funds transacted 278.0 million shares to contribute 2.05 percent.

Business Post learned that these 10 stockbroking companies were the most active in April 2020. They cumulatively traded 8.498 billion stocks, contributing 62.57 percent to the total equities transacted at the exchange during the period under review.

Also, in the data from the NSE, it was revealed that last month, Stanbic IBTC Stockbrokers was the best performing brokerage firm by the value of transactions it executed.

Shares worth N15.814 billion were bought and sold through the platform in April 2020, contributing 12.27 percent to the N79.408 billion trades carried out by top 10 stockbrokers at the market last month, which accounted for 61.61 percent of the total value of the market in the period.

During the month, EFG Hermes transacted stocks valued at N13.243 billion to contribute 10.28 percent, CSL Stockbrokers traded N12.223 billion equities to contribute 9.33 percent, RenCap Securities transacted N8.711 billion to contribute 6.76 percent, and Cardinal Stone Securities exchanged N7.092 billion equities to contribute 5.50 percent.

In addition, FBN Quest Securities traded N6.792 billion shares to contribute 5.27 percent, Morgan Capital transacted N5.616 billion stocks to contribute 4.36 percent, Meristem Stockbrokers exchanged N3.756 billion equities to contribute 2.91 percent, Cordros Securities traded N1.194 billion stocks to contribute 2.48 percent, while Tellimer Capital transacted N3.167 billion shares to contribute 2.46 percent.

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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