The Nigerian equities market closed the trading week ended May 22, 2026, on a weaker note, shedding 618.55 points to settle at 249,712.37 amid renewed profit-taking pressure.

This marks a 0.25 per cent weekly decline from 250,330.92, ending the market’s seven-week winning streak as the benchmark index slipped below the key 250,000-point level.

Trading activity slowed significantly during the week, as investors exchanged 3.8 billion shares in 334,745 deals, compared to 7.7 billion shares recorded in the previous week.

Market breadth weakened during the week as 38 equities appreciated, down from 74 previously, while 55 declined versus 24 earlier, and 53 closed unchanged, reflecting increased selling pressure and cautious sentiment.

Year-to-date data shows the Nigerian equities market remains firmly in positive territory, with the benchmark index posting a strong return of 60.47 per cent, while quarter-to-date performance stands at 24.06 per cent.

Market performance during the week was mixed, as the bourse recorded gains in three out of five trading sessions, with losses confined to Monday and Wednesday.

The week opened on a mildly negative note, with the benchmark index slipping by 0.01 per cent on Monday before rebounding sharply on Tuesday with a 1,324.1-point gain.

Selling pressure resurfaced on Wednesday as the index declined by 2,571.7 points, dragging week-to-date performance back into negative territory despite moderate recoveries in subsequent sessions.

Although the market posted smaller gains on both Thursday and Friday, the advances were insufficient to offset earlier losses, leaving the benchmark index to close the week in the red.

Performance across major market segments was broadly mixed, with the NGX Premium Index advancing 0.33 per cent on gains in Zenith Bank (2.33 per cent), UBA (2.27 per cent), and Lafarge (1.48 per cent), while the NGX 30 Index declined 0.10 per cent and the Main Board Index shed 0.55 per cent.

The NGX Banking Index emerged as the best-performing sector during the week, advancing 1.11 per cent on the back of strong gains in Stanbic IBTC (7.06 per cent), Fidelity Bank (2.62 per cent), Zenith Bank (2.33 per cent), UBA (2.27 per cent), and Wema Bank (1.21 per cent).

The NGX Oil and Gas Index followed with a modest 0.07 per cent gain, supported primarily by sharp price appreciation in Japaul Gold (14.37 per cent) and Oando (11.70 per cent), alongside a marginal increase in Aradel Holdings (0.06 per cent).

On the downside, sectoral performance remained weak across insurance, industrial, and consumer stocks, as the NGX Insurance, NGX Industrial Goods, and NGX Consumer Goods indices declined by 1.77 per cent, 1.24 per cent, and 0.84 per cent respectively.

The top-performing stocks for the week were Associated Bus Company Plc which rose 44.82 per cent to N9.08, Academy Press Plc up 29.79 per cent to N9.15, University Press Plc up 28.00 per cent to N6.40, International Energy Insurance Plc up 22.22 per cent to N3.41, and Learn Africa Plc up 18.89 per cent to N12.90.

Other top gainers included Japaul Gold Plc up 14.37 per cent to N3.82, Zichis Agro Allied Industries Plc up 14.34 per cent to N33.65, Oando Plc up 11.70 per cent to N52.50, FTN Cocoa Processors Plc up 10.49 per cent to N9.90, and Aluminium Extrusion Industries Plc up 10.00 per cent to N9.90.

The week’s worst-performing stocks included Sovereign Trust Insurance Plc which declined 22.45 per cent to N2.28, Trans-Nationwide Express Plc down 18.98 per cent to N5.72, Chemical & Allied Products Plc down 14.85 per cent to N199.00, and Berger Paints Plc down 12.64 per cent to N147.60.

Additional top losers were RT Briscoe Plc down 11.18 per cent to N14.06, NCR (Nigeria) Plc down 9.99 per cent to N161.20, Industrial & Medical Gases Nigeria Plc down 9.93 per cent to N38.10, Livestock Feeds Plc down 9.18 per cent to N8.90, VFD Group Plc down 9.13 per cent to N9.95, and Ellah Lakes Plc down 8.22 per cent to N10.05.

The week saw notable corporate disclosures across sectors, reflecting strategic developments and investor-focused updates within the market.

Jaiz Bank filed both its audited FY2025 financial statements and Q1 2026 results.

Prestige Assurance announced its Q1 2026 results alongside Mutual Benefits Assurance and Austin Laz.

Seplat shareholders approved a final and special dividend translating to N113 per share at the company’s AGM.

Jaiz Bank also declared an 11 kobo final dividend for the financial year ended December 31, 2025.

Despite the weekly decline, the All-Share Index remains on track to potentially surpass its half-year performance of 64.51 per cent recorded in H2 2020, having delivered 60.47 per cent so far.

The index is also on the verge of attaining a seven-quarter winning streak, should June close Q2 2026 on a positive note.

However, market conditions suggest overbought territory, and sustained bearish pressure in large-cap stocks could trigger a pullback.