The Nigerian stock market experienced a downturn on Thursday, recording a four-day streak of gains, as investors lost N54 billion.
Market capitalisation fell by N54 billion or 0.08 per cent, closing at N70.510 trillion when compared to N70.564 trillion posted on Wednesday.
Similarly, the All-Share Index (ASI) dropped by 84.53 points or 0.08 per cent, reaching 111,818.08 from 111,902.61 recorded earlier.
The negative trend was driven by selloffs in stocks like Seplat Energy, Legend Internet, Abbey Mortgage Bank, Omatek, Learn Africa and 19 others.
Meanwhile, the market breadth closed positive with 41 gainers and 24 losers.
On the gainers chart, Mutual Benefits Assurance soared by 10 per cent to close at N1.10 while University Press rose by 9.98 per cent, closing at N6.17 per share.
Academy grew by 9.88 per cent, finishing at N4.45 and SCOA increased by 9.62 per cent, ending the session at N4.90 per share.
Also, Livestock Feeds climbed by 9.58 per cent, settling at N9.15 per share.
On the flip side, Seplat Energy dropped by 10 per cent, closing at N4,964.40 while Legend Internet also shed by 10 per cent, settling at N6.84 per share.
Abbey Mortgage Bank declined by 9.90 per cent, finishing at N6.19 and Omatek lost by 8.97 per cent, closing at 71k per share.
Similarly, Learn Africa fell by 6.21 per cent, ending the session at N4.23 per share.
A total of 556.45 million shares worth N17.17 billion were exchanged across 18,505 transactions.
This is compared to 512.17 million shares worth N17.12 billion were exchanged across 16,711 deals.
Transactions in the shares of United Bank for Africa topped the activity chart with 82.57 million shares worth N2.86 billion.
Fidelity Bank followed with 70.60 million shares valued at N1.36 billion while Nigeriam Breweries transacted 37.21 million shares worth N2.102 billion.
Tantalizer sold 36.30 million shares valued at N90.97 million and Zenith Bank traded 27.69 million shares worth N1.34 billion.