The positive sentiments on the Nigerian Exchange were sustained last week, as the All-Share Index crossed the historic 100,000 points mark and investors gained N4.3tn.

Buy sentiment was strong in the market, as investors took positions in dividend-paying stocks ahead of the earnings season.

The securities of Dangote Cement, Seplat, BUA Cement, BUA Foods and Eterna Plc appreciated during the week on the back of increased investors’ appetite.

The ASI and market capitalisation rose by 8.32 per cent week-on-week to close at 102,401.88 and N56.04tn, respectively, as year-to-date returns strengthened to N36.96 per cent

On the sectoral front, it was largely bullish as three out of the five sectors monitored closed in the green zone.

The Industrial index outperformed others, gaining 23.20 per cent week-on-week, driven by price increases and buy interest in Dangote Cement, and BUA Cement.

The Oil & Gas, and Consumer Goods Indexes followed, rising by 11.57 per cent and 5.29 per cent, respectively, fuelled by gains by Seplat, JapaulGold, Eterna, BUA Foods, Nascon Allied Industries and Geregu Power

However, the banking and insurance indexes retreated by 1.63 per cent and 4.10 per cent week-on-week due to price declines in Wema Bank, GTCO, Royal Exchange and Consolidated Hallmark Holdings Plc

Despite the overall positive performance, the market participation levels waned, mirroring the trend seen in the previous week.

A total turnover of 2.981 billion units of shares worth N57.87bn in 67,962 deals was traded, compared to 5.179 billion shares valued at N77.80bn that exchanged hands the previous week in 79,012 deals.

At the close of the week, the top-performing stocks included Tripple Gee (+32.24 per cent), Dangote Cement (28.82 per cent) Sunu Assurances Plc (+25 per cent), JapaulGold (+23.20 per cent) and Seplat (+21 per cent).

On the flip side, stocks such as VeritasKap (-23.38 per cent), The Initiates Plc  (-21.77 per cent), Cadbury (-20.86 per cent) and DEAP CAP (-19.19 per cent) declined.

Already there is anticipation in the market that the positive trading will be sustained during this week as the market eagerly awaits more corporate earnings releases.

However, analysts at Cowry Assets projected a mixed trend with a possibility of profit-taking

Investors are likely to engage in sectoral rotation, capitalising on stocks that experience pullbacks to position themselves strategically. This rotation strategy is expected to create buying opportunities, especially in anticipation of upcoming releases from early filers in the corporate reporting