Kayode Tokede 

Chapel Hill Denham Securities Limited and nine other Stockbrokers traded N1.47 trillion worth of stocks between January and March of  (Q1) 2025 as the stock market closed positive in  the  period  under  review. 

THISDAY had reported that the stock market in first quarter of  2025  gained N 3.49 trillion by market capitalisation as average investors return rose by2.66  per  cent to 105,660.64 basis  points from 102,926.40  basis  points it opened for  trading this year.

The growth in stock market Q1 2025 has been driven by demand  for banking stocks  amid  the Central Bank of Nigeria (CBN)  banking sector  recapitalisation.  

The nine other stockbroking firms are:  Cardinalstone Securities Limited, APT Securities and Funds,  Stanbic IBTC Stockbrokers Limited,  Meristem Stockbrokers Limited and  Cordros Securities Limited

Coronation Securities Limited, Global Asset Management-Nig Limited, Apel Asset Limited and  First Securities Brokers Limited  joined  the  list.

These 10 stockbroking firms were responsible for 65.79per cent  of the total value stocks traded on the Nigerian Exchange Limited (NGX) from January to March, according to recently released broker performance report  by the  bourse.

Chapel Hill Denham Securities traded stocks worth N680billion or 30.41per cent of the total value traded on the NGX in Q1 2025.

Also in the review period, Cardinalstone Securities traded N196.billion or 8.79per cent transactions, followed by APT Securities and Funds that accounted for stocks worth N144.5 billion or 6.46per cent in Q1 2025.

Stanbic IBTC Stockbrokers was responsible for N107.5billion or 4.81per cent worth of stocks trade, , while Meristem Stockbrokers accounted for N83.7billion or 3.74per cent value of transactions in  the  period under review.

The report also shows that Cordros Securities traded stocks worth N81billion or 3.62per cent of the total value report in Q1 2025.

It was followed by Coronation Securities which traded stocks worth N58.04billion or 2.50per cent, and Global  Assets Management  which accounted for N42.64billion or 1.91per cent of the total value of stocks traded on the Exchange between  January  and  March  2025. 

Also, on the top 10 brokers list by value include: APEL Securities  which traded N39.33billion worth of stocks or 1.76per cent and First Securities Brokers that traded N38.11billion or 1.70per cent worth of stocks. 

Chapel Hill Denham Securities  also led others in 41.05  billion volume of stocks traded in Q1 2025  as the firm traded 9.47billion volume of stocks or 11.92per cent.

The 10 stockbrokers were responsible for 51.69 per cent of the total volume traded between January and March 2025.

Chapel Hill Denham  Securities   was followed by  Cordros  Securities  that  traded  5.96 billion volume of transactions   in  Q1  2025, while  cardinal  Stone Securities  traded  5.42billion worth of transactions  in the period under review. 

THISDAY can report that most firms’ transactions were inflow from Foreign Portfolio Investors (FPIs), domestic institutional investors and stock exposure in mutual funds.

Their major clients are foreign portfolio investors, while a few of them have significant stock exposure through collective Investment Schemes (CIS) at which they access a high volume of trading every day.

Before now, analysts have noted that these companies have some of the most diversified portfolios of clients which other firms are envious of. The activities of these big stockbroking firms have made the stock market tilt towards oligopoly- a market dominated by few buyers and sellers who create room for a sort of imperfect competition, in order to accrue greater revenue and market share.