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Azerbaijan reports a 23% drop in stock market turnover

14 May 2009 16:15 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijanâ€™s securities market totalled AZN 2 215.4 million during January-April, down 22.8% from a year ago, said the State Committee for Securities.

The primary market accounted for 18.9%, leaving 81.1% to secondary market.

The downswing in stock market is caused by the fact the Central Bank reduced sterilization instruments after loosening monetary policy, said the Committee.

(mln. manat)

Market
Securities	January-April (2009)	January-April (2008)	Difference (%)
Stock (Placement)	81,1	17,3	4,7 times
Stock (secondary market)	52,5	15,5	3,4 times
Corporate bonds (placement)	0	9,3	-
Corporate bonds (secondary market)	4,4	6,1	-28%
Government bonds (placement)	152	92,9	64%
Government bonds (secondary market)	133	12,1	11 times
Central Bank’s notes (placement)	186,4	732	-75%
Central Bank’s notes (secondary market)	64,7	167,6	-61%
Government bonds (repo/reverse-repo)	21,9	8,8	2,5 times
Central Bank’s notes (repo/reverse-repo)	1 519,4	1 810,3	-16%
Total	2 215,4	2 871,9	-22,8%