Uzbekistan, Tashkent, April 11 / Trend D.Azizov /
The turnover of the Uzbek Republican Stock Exchange (RSE) Toshkent in the first quarter of 2013 amounted to 15.7 billion soum compared to 48.7 billion soum in the previous year (a 3.1-fold decrease), the Stock Exchange told Trend on Thursday.
About 9.976 million securities (a 3.3-fold decrease) of 52 joint stock companies (a 0.9 percent decrease) worth 10.6 billion soum as well as 5,000 bonds of three issuers worth 5.1 billion soum (no deals with bonds were performed on the RSE in the first quarter of last year) sold at the exchange auctions in January-March this year.
The share of the primary market in the structure of exchange turnover was 48.5 percent in January-March, compared to 78.7 percent last year. The primary market turnover decreased five-fold to 7.6 billion soum.
The turnover of shares in the secondary market decreased by 1.3 times to 8.1 billion soum for the first three months of this year.
One reason for the decrease in activity in the secondary market is the shortage of supply of shares of large financially stable companies with relatively higher liquidity and investment appeal, the RSE analysts say.
It is noted that the majority of the shares of such companies are state-owned and are not a resource for the aftermarket.
Securities of enterprises operating in the financial sector dominated in the sectorial structure of the total exchange turnover with the securities in the first quarter of the year, when they accounted for 79.6 percent of the stock market turnover (12.5 billion soum) against 89.8 percent a year earlier.
In particular, the banks' shares hit 55 percent of the stock market turnover, the shares of insurance companies accounted for 3.8 percent, leasing companies - 20.8 percent.
The share of enterprises on the industrial sector in the turnover of the exchange in January-March this year went down from 4.3 percent a year earlier to 0.5 percent, while the share of the construction industry increased to 1.5 percent (from 0.7 percent).
The Toshkent Republican Stock Exchange was established in 1994. Its founders are investment, brokerage and insurance companies, as well as the State Property Committee of Uzbekistan. The market organises primary and secondary trading of privatised companies' shares and bonds (around 370 companies). More than 100 investment institutions are members of the exchange.
The total turnover on the Toshkent stock exchange decreased 19.9 percent to 170.6 billion soum, compared with 213.1 billion soum in 2011.
The official exchange rate on April 11 is 2049.18 soum / $ 1.