The Nigerian Exchange market recorded a N324 billion decline on Wednesday, marking its first loss this week.

Market capitalisation, which opened at N89.696 trillion, dropped by 0.36 percent to close at N89.372 trillion. Similarly, the All-Share Index shed 512.60 points, or 0.36 percent, closing at 141,248.76 compared to 141,761.36 recorded on Tuesday.

The bearish trend was largely driven by losses in Cornerstone Insurance, RT Briscoe, ABC Transport, NGX Group, Mutual Benefits, and 36 other equities. As a result, market breadth closed negative with 40 losers against 17 gainers.

Breakdown of activities showed that Cornerstone Insurance, RT Briscoe, ABC Transport, and Mutual Benefits led the losers’ table. On the other hand, Deap Capital Management and Legend Internet rebounded from Tuesday’s losses to top the gainers’ chart.

Further analysis revealed increased trading volume and value despite fewer market transactions. Investors exchanged 682.9 million shares worth N22.2 billion across 28,695 deals, compared to 605.02 million shares valued at N12.89 billion across 28,845 deals on Tuesday.

FCMB Group maintained leadership on the activity chart for the third consecutive session, recording 108.5 million shares valued at N1.19 billion.