Sustained demand for the large caps drove the index higher today(+3.85%), pushing the YTD return to an impressive +21.2% at market close. Cement heavyweight Dangcem(+8.85%) provided the biggest boost as block trades involving mainly international buyers and domestic sellers, drove the stock close to its 30months-high, while Nestle (+3.94%) likewise advanced to about its 22months peak. The Banks were also keenly demanded, although late sell-offs in the likes of Zenith(+0.95%) and Guaranty( +0.32%), trimmed a bit of the intra-day gains. FBNH(+10.19%) kept up its stellar run, still on improving investors sentiments and the recent approval by PENCOM on inclusion of bank holding companies as eligible stocks for PFAs investment, while others including Access(+5.82%), ETI (+4.95%) and Tier 2s such as Fidelity(+9.24%), FCMB(+8.50%) generally remained upbeat. Other popular consumer goods names today included Cadbury (+4.96%) and Dangsugar(+4.97%)-both traded on net bid, though top Brewer NB(-2.84%) pulled lower on profit taking. The energy counters also staged a positive comeback, led by Mobil(+10.25%) which rebounded on news of NIPCO’s impending tender acquisition of additional shares from minority shareholders, while Conoil(+10.23%), Oando (+2.85%), FO(+2.17%),Total(+1.87%) also ticked up.
Turnover remained impressive at N7.68($24.3m) buoyed by block trades in Dangcem (5.9m shares), Nestle (684k shares), Zenith(14m shares).
