Positive sentiments persisted last week as the All-Share Index achieved a historic milestone, crossing the 100,000 points mark and resulting in a gain of N4.3tn for investors.

The market witnessed a robust buy sentiment, with investors strategically positioning themselves in dividend-paying stocks ahead of the upcoming earnings season.

Securities of companies like Dangote Cement, Seplat, BUA Cement, BUA Foods, and Eterna Plc experienced appreciation, reflecting an increased appetite among investors.

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The All-Share Index (ASI) and market capitalization exhibited significant growth, rising by 8.32% week-on-week to close at 102,401.88 and N56.04tn, respectively. Year-to-date returns strengthened to N36.96%.

Analyzing sectors, three out of five sectors monitored closed positively, with the Industrial index leading the way, gaining 23.20% week-on-week.

This surge was driven by price increases and heightened investor interest in Dangote Cement and BUA Cement.

The Oil & Gas and Consumer Goods Indexes also recorded gains, rising by 11.57% and 5.29%, respectively.

Companies like Seplat, JapaulGold, Eterna, BUA Foods, Nascon Allied Industries, and Geregu Power contributed to these positive movements.

However, the banking and insurance indexes experienced retreats, declining by 1.63% and 4.10% week-on-week, attributed to price declines in Wema Bank, GTCO, Royal Exchange, and Consolidated Hallmark Holdings Plc.

Despite the overall positive market performance, participation levels dwindled, echoing the trend observed in the previous week.

The total turnover for the week was 2.981 billion units of shares valued at N57.87bn in 67,962 deals, compared to the previous week’s 5.179 billion shares valued at N77.80bn in 79,012 deals.

Top-performing stocks at the week’s close included Tripple Gee (+32.24%), Dangote Cement (28.82%), Sunu Assurances Plc (+25%), JapaulGold (+23.20%), and Seplat (+21%). On the flip side, stocks such as VeritasKap (-23.38%), The Initiates Plc (-21.77%), Cadbury (-20.86%), and DEAP CAP (-19.19%) experienced declines.

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Market anticipation is high for sustained positive trading in the upcoming week, especially with the eagerly awaited corporate earnings releases.

However, analysts at Cowry Assets project a mixed trend with a possibility of profit-taking. They