The local market has experienced declines for two consecutive sessions following two prior gains.
The All-Share Index and market capitalization fell by 0.21 percent, closing at 98,081.38 and N59.43 trillion, respectively.
In addition, the number of transactions, trading volume, and trade value also saw a decrease, recording 7,318 deals, a volume of 239,308,707, and a total trade value of N6.41 billion.
Market sentiment remained positive, evidenced by 29 gainers compared to 16 losers. Golden Guinea Brewery topped the gainers' list with a 10 percent increase, closing at N3.74.
Following closely was Deap Capital Management & Trust, which saw its shares rise by 9.85 percent to N1.45, while TransCorp Power increased by 9.68 percent, closing at N330.90.
Transcorp Power recently published its third-quarter report, revealing a revenue growth of 153 percent, reaching N223.6 billion, up from N88.4 billion in Q3 2023.
The company's profit before tax for the period soared by 198 percent, amounting to N81.1 billion, compared to N27.3 billion during the same period last year.
On the downside, newly listed Aradel Holdings saw its shares decline by 10 percent, settling at N694.80.
Aradel Holdings was introduced at N702.69 per share through a 'Listing by Introduction' on Monday.
Also among the losers were Regency Assurance, which fell by 8.82 percent to N0.62, and Daar Communications, which dropped 6.78 percent to close at N0.55.
Banking stocks were prominent in trading activity, with Sterling Financial Holding Company trading 42,786,982 shares valued at N213.02 million, 20,054,095 units of Zenith Bank shares worth N751.82 million, and 19,631,545 units of Guaranty Trust Holding Company Plc shares valued at over N1 trillion.