The loss followed a sell pressure in Lafarge Africa and PZ Cussons.
In all, investors bought and sold 241.84 million shares worth N2.71 billion achieved in 3,819 deals.
The bearish mood was occasioned by profit-taking in Guaranty Trust and 15 other stocks.
The market sentiment closed positive with 18 gainers against eight laggards.
The All-Share Index depreciated by 53.82 points to 39,156.28 from 39,210.10 on Thursday.
Market sentiment was positive with 25 gainers compared with six laggards.
“We expect negative sentiments to dominate the equities market as knee-jerk reactions to the federal government’s decision.”
In spite of the drop in market indices, the total volume of trades increased by 5.5 per cent to 214.17 million shares valued at N1.34 billion.
Nigeria’s stock market continues its losing streak on Wednesday as capitalisation dropped further by N12 billion due to profit-taking on banking stocks.
An analysis of the price movement table indicates that 17 stocks posted price depreciation, relative to 12 gainers.
