File photo of traders on the Nigerian Exchange Limited. Photo: NGX
Late-week sell-offs in heavyweight industrial and insurance stocks dragged the Nigerian Exchange lower by 0.25 per cent, wiping billions off investors’ portfolios despite gains in banking and oil equities, while overall market turnover and trading activity weakened sharply during the five-day trading period, JIDE AJIA reports
Heavyweight financial and manufacturing stocks dragged the Nigerian Exchange Limited down by 0.25 per cent last week, offsetting minor gains recorded across the banking and oil sectors. The benchmark NGX All-Share Index closed the week ended 22 May 2026 lower at 249,712.37 points, down from the 250,330.92 points recorded the previous week.
Similarly, the total market capitalisation of listed equities depreciated 0.23 per cent to close the five-day trading window at N160.077tn, representing a loss of billions of naira for equity portfolios. This downward movement was heavily driven by structural weakness in the manufacturing and retail protection segments, as the NGX Industrial Goods Index dropped 1.24 per cent to close at 12,252.18 points, while the NGX Insurance Index led the broader sectoral contraction by shedding 1.77 per cent to finish at 1,245.52 points.
