Qualitative growth observed in Azerbaijan’s stock market in 2010: Committee Chairman
Azerbaijan, Baku, June 14 / corr Trend I.Khalilova /
The State Securities Committee (SSC) of Azerbaijan asserts the quantitative increase in the country's stock market in 2010, despite cut in the market volumes.
"As a result of placing shares of the biggest emitter - International Bank of Azerbaijan (IBA) last year, the stock market rose by 60.2 million manat (the market amounted to 238.58 million manat in 2009), said Rufat Aslanly, the SSC chairman. The IBA did not place its shares this year, whilst the retail stock market has expanded, leading to increase of both volume of the market and quantity of transactions."
According to Aslanly, the T-bills market expanded this year in connection with placing mortgage securities, but if to view the structure of corporate T-bills their issue rose by 4 times this year.
The amount of issue of T-bills grew this year by force of processes ongoing processes, Aslanly said. "It occurred due to attracting short-term funds to place them in short timeframes," Aslanly underscored.
The exchange deals on all tools amounted to 739.227 million manat, or cut by 3.15 times, in the Baku Stock Exchange (BSEX) in January to May, 2010.
The corporate securities market reduced by 6.56 percent compared to similar period of last year, to 142.731 million manat. It is explained by cut in stock transactions by 2.2 times, though the number of deals rose by 12.2 percent to 1,716.
The state bonds market reduced by 3.7 times to 596.496 million manat. It occurred under cut in repo-operations by 4.6 times, though the number of deals rose by 6.1 percent.