The All-Share Index lost 46.93 points or 0.12 per cent to close at 38,802.15.
Market capitalisation shed N71 billion buoyed by profit-taking sentiments by investors in all the major sectors except oil and gas stocks.
The market sentiment closed positive with 18 gainers against eight laggards.
Similarly, the All-Share Index lost 367.97 points or 0.92 per cent to close at 39,433.81 from 39,801.78 on Tuesday.
The market closed negative with 19 laggards against 17 gainers.
Analysts attributed the persistent lull to increasing rates in the fixed income market.
Market breadth closed positive with 32 gainers as against two losers.
