Azerbaijan, Baku, Apr. 11 / Trend U.Ismayilova /
The securities market in Azerbaijan amounted to 1.88 billion manat in the first quarter of 2009, which major part consisting of loan market tools, the State Securities Committee said.
The share of initial market made up 18.5 percent of the total market and 81.5 percent - share of secondary market.
"In the first quarter the stock market demonstrated itself as stable and transparent on the background of global financial crisis. Institutional strengthening has been observed in the structure of the market. In this period activity in the market of shares increased, whilst the transactions in the secondary securities market overdrew the initial market for their activity," the committee said.
The securities worth 347.7 million has been issued in that period and 47 percent of them accounted for the notes of the Central Bank.
In this period the amount of secondary securities market rose 1.7 times as compared to similar period of 2008 to 1.536 billion manat, with 82.4 percent accounting to operation with repo and reverse repo with notes of the Central Bank.
In the first quarter the market of shares rose by 4.7 times as compared to the similar period of the last year. The market of shares amounted to 129 million manat, with 62 percent accounting for the share of initial market and 38 percent on share of secondary market. The stock issue was done through the financial sector. The stock issue rose by six times to 79.5 million manat.
Over the first quarter of 2009 total amount of the secondary market made up 47.8 million manat, increasing the similar figure of the last year by 3.5 times.
Share trading at the secondary market of the Baku Stock Exchange rose by 662 times to 28.5 million manat. Some 92 percent of share in circulation at the secondary market accounted for financial sector, 4 percent on refinery sector and 2.5 percent on transport.
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