The Nigerian stock market ended its winning streak last week as investors took profits aggressively.
By May 22, 2026, selling pressure pushed the All-Share Index down 618.55 points to 249,712.37.
Stock Market Ends Winning Streak
As a result, the market recorded a 0.25% weekly decline from 250,330.92.
Consequently, the index broke its seven-week rally and fell below 250,000.
Meanwhile, trading activity slowed as investors reduced exposure.
Trading Slows Sharply
They exchanged 3.8 billion shares in 334,745 deals.
This figure dropped sharply from 7.7 billion shares the previous week.
Therefore, sentiment shifted towards caution across the market.
Market breadth also weakened as selling pressure increased.
Only 38 stocks gained, compared with 74 in the prior week.
In contrast, 55 stocks declined, up from 24 earlier.
Additionally, 53 equities closed flat during the week.
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Despite this, the market still delivered strong gains year-to-date at 60.47%.
It also maintained a 24.06% quarter-to-date return.
Mixed Weekly Sessions
Across sessions, the market moved in mixed directions.
On Monday, the index slipped slightly by 0.01%.
However, on Tuesday, buyers drove a strong rebound of 1,324.1 points.
Then on Wednesday, sellers triggered a sharp 2,571.7-point drop.
Afterward, Thursday and Friday produced mild recoveries.
Still, these gains failed to reverse earlier losses.
The NGX Banking Index rose 1.11% as investors bought banking stocks.
Stanbic IBTC, Zenith Bank, UBA, Fidelity Bank, and Wema Bank led gains.
Meanwhile, the NGX Oil and Gas Index increased 0.07%.
Japaul Gold and Oando drove most of these gains.
However, investors sold off insurance, industrial goods, and consumer stocks.
As a result, those sectors ended lower.
Associated Bus Company led weekly gainers with a 44.82% rise.
Academy Press climbed 29.79%, while University Press gained 28%.
International Energy Insurance also advanced 22.22%.
Learn Africa, Japaul Gold, and Oando posted strong gains as well.
Conversely, Sovereign Trust Insurance led losers with a 22.45% drop.
Trans-Nationwide Express fell 18.98%, while Chemical & Allied Products lost 14.85%.
Berger Paints, RT Briscoe, and NCR Nigeria also declined.
Finally, corporate announcements shaped investor sentiment.
Jaiz Bank released its 2025 results and Q1 2026 earnings.
Seplat shareholders approved a ₦113 dividend per share.
Jaiz Bank also declared an 11 kobo dividend.
Despite the pullback, the market still holds strong yearly gains.