Specifically, the Nigerian Exchange Ltd market capitalisation declined by N659 billion or 1.01 per cent, falling to N65.488 trillion from N66.147 trillion recorded on Friday.
The market loss was driven by price depreciation in banking stocks, including First Bank of Nigeria Holdings, Guaranty Trust Holding Company, and United Bank for Africa.
Market breadth closed negative with 30 losers and 17 gainers on the floor of the exchange.
Sell-offs in MTN Nigeria, alongside tier-one banking stocks, on Tuesday shed 0
The stock market capitalisation sheds N171 billion or 0.31 per cent, closing at N55.545 trillion from an opening of N55.716 trillion.
The market’s declining performance was driven by sell-offs in telecommunications heavyweights.
The market capitalisation dropped by N18 billion or 0.06 per cent to close at N28.646 trillion.
The primary drivers of the recovery were gains in stocks of Zenith Bank, Guaranty Trust Holding Company and MTN Nigeria.
The All-Share Index (ASI) also lost 43.04 points or 0.09 per cent to close at 48,836.70 compared with 48,879.74 posted on Tuesday.
The market capitalisation dropped by N3.41 billion to N27.803 trillion from N27.806 trillion recorded on Thursday.
