{
  "id": 13831759,
  "title": "FX market turnover surges 98% to $3.37bn",
  "url": "https://urgent.news/2026/10/12/fx-market-turnover-surges-98-to-3-37bn",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-12T00:38:06.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/fx-market-turnover-surges-98-to-3-37bn/"
  },
  "original_language": "en",
  "account": "The Nigerian financial market saw an astonishing 98% increase in trading volume, totaling $3.37 billion, according to findings from JIDE AJIA. During the week ending October 9, 2026, investors engaged in 209,986 deals involving 2.715 billion shares, valued at N158.280 billion. Financial Services Industry led the trading activity with N82.924 billion in volume, representing 73.84% of total equity turnover. Consumer Goods Industry and ICT Industry followed in second and third places, respectively, with turnovers of N11.425 billion and N15.256 billion. Key market players like Access Holdings Plc, Zenith Bank Plc, and United Bank for Africa Plc contributed significantly to the volume, accounting for 1.020 billion shares worth N50.520 billion. The NGX All-Share Index and market capitalization both declined by 0.97% to close at 248,363.55 and N161.260 trillion, respectively. Sector indices followed a similar downward trend, except for the NGX Industrial Goods Index, which slightly appreciated by 0.02%. Market breadth closed negative, with more equities depreciating than appreciating. Corporate actions played a role in the market, including the listing of Nigeria's September 2026 FGN Savings Bonds and Guinea Insurance Plc expanding its equity structure. Foreign investment participation dropped to 4.89%, the lowest recorded, as foreign trading contracted to $62.03 billion. Domestic investors, however, dominated the market, handling approximately N1.21 trillion in transactions, nearly 19 times that of foreign participants.",
  "summary": "As the Nigerian financial markets continue to navigate shifts in investor sentiment and macroeconomic adjustments, stakeholders closely monitor weekly trading flows, institutional participation, and corporate disclosures, JIDE AJIA reports. The Nigerian Exchange experienced a downturn during the trading week ended on Friday, October 9, 2026, as broader market indicators pulled back. Investors…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "FX market turnover surges 98% to $3.37bn",
        "url": "https://urgent.news/2026/10/11/fx-market-turnover-surges-98-to-3-37bn",
        "published": "2026-10-11T23:56:06.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}