The market closed at N95.264 trillion.
The overall market capitalisation value lost N418 billion to close at N27.850 trillion from N28.267 trillion.
NGX Group listed a total of 1.96 billion shares at N16.15 per share by way of introduction on the NGX on Friday.
Market watchers attributed the decline mostly to sell-off in the financial sectors.
The market upturn was due to investors’ renewed buying interest in the financial and industrial sectors.
FBNHoldings drove the activity chart, exchanging 27.28 million shares worth N199.56 million, followed by GTCO with an account of 14.38 million shares valued at N404.04 million.
The All-Share Index lost 46.93 points or 0.12 per cent to close at 38,802.15.
Overall, the market was positive with 29 stocks gainers relative to 16 losers.
The market sentiment closed negative with 18 laggards against 13 gainers.
“We expect negative sentiments to dominate the equities market as knee-jerk reactions to the federal government’s decision.”
