Nigeria's stock market declined by N366 billion week-on-week, driven by profit-taking activities, according to data from the Nigerian Exchange Limited (NGX). The market capitalization fell from N56.297 trillion at the start of the week to N55.931 trillion by Friday, May 22, 2026.
The All-Share Index (ASI) also dropped by 0.65% to 102,345.67 points, reflecting a broad sell-off across major sectors. Analysts attributed the decline to investors cashing out after recent gains, particularly in banking and consumer goods stocks.
Despite the weekly loss, market experts noted that the correction was expected after a prolonged rally. The NGX had gained over 8% in the previous month, driven by positive corporate earnings and economic reforms.
Trading volume remained high, with over 2.1 billion shares exchanged during the week, valued at N28.4 billion. The most traded stocks included Zenith Bank, GTCO, and Dangote Cement.
