Exchange turnover of corporate securities fallsl by half

Azerbaijan's stock market is still going through a phase of development, is unable to cope with the new economy challenges caused due to the currency crisis in the country. From the beginning, the market sank by two times.

According to the Baku Stock Exchange (BSE) over  first ten months of this year, turnover of corporate securities amounted to 1.943.900 manats, which is  by two  times less  than in the same period in 2014.

The government securities market indicates the level of 20.5 million AZN, by 513.5 million manats less than in January-October 2014. The Azerbaijan Mortgage Fund bonds  amounted to 36,386,500 manat (-9%).  Experts explain the  two-time increase in the secondary mortgage bond market by the lack of other equity instruments required for placement of free funds interim financial companies.

 The companies, mainly non-bank credit organizations, attracted  over ten months through the issuance of 18.9 million interest-bearing bonds manats.

Since the beginning  it was possible to place shares for 266.7 million manats, by three times less than in the comparable period of 2014. This year, as the investors were 111 people, while last year the primary market was attended by 600 businesses and individuals.

Experts say  that the efforts of the  BSE and the State Committee on Securities undertaken for the development of the market are not sufficient, since no real steps are made  to stimulate supply and demand in the market of corporate securities. --08D--