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The Nigerian stock market started the week on a mixed note, with the All-Share Index (ASI) dipping 0.04%, losing 41.70 points to close at 105,891.33 points.
However, market capitalisation rose by 0.73%, adding N477 billion to reach N66.069 trillion, mainly due to the listing of 9.67 billion shares by Zenith Bank from its capital offer.
The downturn was driven by losses in medium and large-cap stocks, including Julius Berger Nigeria, Zenith Bank, United Bank for Africa (UBA), Fidelity Bank, and Guaranty Trust Holding Company (GTCO).
Looking ahead, United Capital Plc expects the market to maintain its positive momentum, with investors positioning for the 2024 earnings season and potential corporate announcements.
