A total of 10 stockbroking firms traded N2.14 trillion worth of stocks between January and May of 2025 as the domestic stock market closed positive in the period under review.
The market capitalisation of Nigerian Exchange Limited (NGX) in the first five months of 2025 has appreciated by N7.7 trillion as average investors return rose by 8.56 per cent or 8,815.61 basis points to 111,742.01 basis points from 102,926.40 basis points it opened for trading this year.
The growth in the domestic stock market in the first five months of 2025 has been driven by demand for banking stocks amid the Central Bank of Nigeria (CBN) banking sector recapitalisation, return of foreign investors, among other factors.
The 10 stockbroking firms are: Chapel Hill Denham Securities, Cardinalstone Securities Limited, Cordros Securities Limited, APT Securities and Funds, and United Capital Securities Limited.
Others are: Stanbic IBTC Stockbrokers Limited, EFG Hermes Nig Limited, Meristem Stockbrokers Limited, Coronation Securities Limited and First Securities Brokers Limited.
These 10 stockbroking firms were responsible for 62.56 per cent of the total value stocks traded on the NG) from January to May 2025, according to released broker performance report by the bourse.
Chapel Hill Denham Securities traded stocks worth N700.88 billion or 20.49per cent of the total value traded on the NGX in the first five months of 2025.
Also in the review period, Cardinalstone Securities traded N325.62billion or 9.52per cent transactions, followed by Cordros Securities Limited with about N199.4billion or 5.83 per cent of total transaction in the period under review.
APT Securities and Funds that came fourth when it accounted for stocks worth N169.3 billion or 4.95per cent in first five months of 2025.
According to the report, United Capital Securities Limited ranked fifth when it was responsible for N159.3billion or 4.66per cent worth of stocks trade, while Stanbic IBTC Stockbrokers Limited accounted for N159.25billion or 4.66 per cent value of transactions in the period under review.
The report also shows that EFG Hermes Nig Limited traded stocks worth N145.57 billion or 4.26per cent of the total value report in the first five months of 2025.
It was followed by Meristem Stockbrokers Limited which traded stocks worth N127.03billion or 3.71per cent, and Coronation Securities Limited which accounted for N83.78billion or 2.45 per cent of the total value of stocks traded on the Exchange between January and May 2025.
Also, on the top 10 brokers list by value include: First Securities Brokers Limited which traded N70.17 billion or 2.05 per cent worth of transactions in the period under review.
Chapel Hill Denham Securities also led others in 57.07 billion volume of stocks traded in first five months of 2025 as the firm traded 9.94 billion volume of stocks or 8.07 per cent.
The 10 stockbrokers were responsible for 46.37 per cent of the total volume traded between January and May 2025.
Chapel Hill Denham Securities was followed by Cardinal Stone Securities that traded 8.7 billion volume of transactions , while Cordros Securities Limited traded 7.45 billion 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.
