BAKU, Azerbaijan, November 3. The total value of manat-denominated transactions on Azerbaijan's primary and secondary stock markets exceeded 5 billion manats ($2.95 billion) in the third quarter of 2026.
Transactions on the primary market amounted to 3.29 billion manats ($1.94 billion), while those on the secondary market totaled approximately 1.74 billion manats ($1.02 billion).
The figures were reported in the second- and third-quarter statistical bulletins published by the National Depository Center (NDC).
According to the report, a total of 2,750 manat-denominated transactions were registered on the primary stock market during the reporting period, compared with 21,919 in the second quarter.
Despite the sharp decline in the number of transactions, their total value increased from 917.2 million manats ($539.5 million) in the previous quarter to 3.29 billion manats ($1.94 billion). This represents an increase of nearly 3.6 times.
Activity on the secondary market also recorded substantial growth. In the third quarter, 8,726 transactions were executed in manats, with a combined value of 1.739 billion manats ($1.02 billion). In comparison, the second quarter saw 5,533 transactions worth a total of 138.4 million manats ($81.4 million).
As a result, the value of secondary-market transactions increased 12.6-fold quarter-on-quarter.
A breakdown by transaction counterparties also revealed notable changes in the activity of legal entities and individuals.
In the third quarter, the value of transactions involving legal entities on the secondary market reached 3.213 billion manats ($1.89 billion), compared with 846.1 million manats ($497.7 million) in the second quarter. This represents an increase of approximately 3.8 times.
Meanwhile, the value of transactions involving individuals reached 86.1 million manats ($50.6 million) in the third quarter, up from 79.5 million manats ($46.8 million) in the previous quarter.
In terms of transaction numbers, 1,479 deals involving individuals and 51 involving legal entities were registered on the secondary market during the reporting period. In the second quarter, the corresponding figures stood at 18,510 and 48, respectively.
As for US dollar-denominated operations, the primary market recorded 57 transactions in the third quarter, with a total value of $5 million. On the secondary market, 208 transactions were executed, amounting to $39.7 million.
Overall, Azerbaijan's stock market recorded a substantial increase in the value of manat-denominated transactions in the third quarter. In particular, the reported volume of secondary-market transactions involving legal entities exceeded 3.2 billion manats ($1.89 billion), making it one of the key indicators of institutional participation in the country's securities market.
