Equities market tumbles by N476bn

This bearish trend started on Monday with investors losing N3bn to close at N 30.391 tn. On Tuesday, the market cap lost N36bn to close the day at N30.355tn. On Wednesday, the pattern was sustained as investors lost N127 billion and the market cap closed at N30.228 trillion.

The All Share Index which started the week at 55, 788.37 had lost 872.78 base points to end trading on Friday at 54. 915.39. Similarly, all other indices finished lower with the exception of NGX Consumer Goods and NXG Growth which appreciated by 1.11 per cent and 2.90 per cent respectively while the NGX ASeM, NGX Oil and Gas indices and NGX Sovereign Bond index closed flat.

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Orange alters planned entry into Nigerian marketTelecommunication giant, Orange has temporarily suspended its plans to explore Nigerian market, as a potential addition to its African footprint. The Chief Executive Officer, Middle East and Africa, Orange, Jerome Henique, who revealed this at the Mobile World Congress Barcelona, Orange Middle East and North Africa, bemoaned the lack of market conditions for the operator to enter in Nigerian market.
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