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The main index gained six percent over the seven day rally to hit a new three-year high, lifting stocks up 47 percent so far this year.
Traders had said investors were piling into the market to take positions ahead of year-end earnings and possible dividends. However, stocks have been overbought with the rally and locals were booking profits.
Dangote Flourmills and Diamond Bank each fall more than 5 percent, followed by International Breweries and Unilever, both down 4.9 percent.
Dangote Cement, which accounts for a third of total market capitalisation, shed 2 percent.