The All-share index shed 61.35 points or 0.13 per cent to close at 48,426.49 from 48, 476.49 recorded on Wednesday.
Sell-offs in large and small stocks, particularly WAPCO, drove the negative performance of the market.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: BUA Foods, WAPCO, FBN Holdings and Accesscorp.
The market capitalisation increased by N390.92 billion.
The market breadth was negative as 13 stocks gained while 22 declined.
The decline of 1.97 per cent was as a result of losses in large stocks such as Dangote Cement, WAPCO, GTCO and Oando.
The downtrend was impacted by losses recorded in highly capitalised stocks, amongst which are MTN Nigeria, PRESCO, WAPCO and Stanbic Bank.
The market capitalisation increased by N97 billion to close at N28.625 trillion in contrast with N28.528 trillion achieved on Thursday.
Primary drivers of the performance of the market were stocks such as Oando, WAPCO, and Zenith, Fidelity and Access banks.
