It should be noted that the growth of the stock exchange activity was registered not in all segments of the organized securities market. In the sector of corporate securities reduction was observed. So, 45.3% decrease was observed on the equities primary market and 99.61% - in the sector of secondary market. 36.45% reduction was observed on T-bills placement market. The largest growth was observed on the repo operations market and Notes secondary market (see: the table below).
Comparative table on the results of auctions on all instruments on the BSE(January-June, 2008)
Market segments |
2008 (30.06.08) |
2007 (30.06.07) |
Percentage ratio |
T-bills (AR MF) - (placement) |
125,025,752.90 |
84,822,637.56 |
147.40% |
T-bills (AR MF) - (secondary market) |
16,194,394.92 |
11,882,352.46 |
136.29% |
Notes (AR NB) - (placement) |
944,027,512.34 |
712,683,150.34 |
132.46% |
Notes (AR NB) - (secondary market) |
249,148,298.00 |
114,338,419.34 |
217.90% |
Repo operations |
2,601,556,239.67 |
392,255,114.75 |
663.23% |
Total GS |
3,935,952,197.83 |
1,315,981,674.45 |
299.09% |
Corporate bonds- (placement) |
11,900,616.50 |
18,725,470.25 |
63.55% |
Corporate bonds - (secondary market) |
7,810,726.77 |
6,416,493.29 |
121.73% |
Stocks - (placement) |
65,940,800.20 |
120,554,388.92 |
54.70% |
Stocks - (secondary market) |
154,721.20 |
40,180,651.11 |
0.39% |
Total CS |
85,806,864.67 |
185,877,003.57 |
46.16% |
Total |
4,021,759,062.50 |
1,501,858,678.02 |
267.79% |
Abridgement:
T-bills - treasury bills
AR MF - Azerbaijan Republic Ministry of Finance
AR NB - Azerbaijan Republic National Bank
GS - government securities
CS- corporate securities