The bullish trend was due to bargain-hunting in shares of MTN Nigerian Communications (MTNN) and seven other companies.
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 breadth, however, closed negative as 16 equities lost relative to 13 gainers.
In all, investors bought and sold 241.84 million shares worth N2.71 billion achieved in 3,819 deals.
Market capitalisation lost N16 billion to close at N21.474 trillion compared with N21.490 trillion recorded on Monday.
The All-Share Index appreciated by 1.78 points or 0.01 per cent to close at 25,574.35 from 25,572.57 posted on Friday