Armenia’s securities market, October 26–30: weekly turnover up 3.8 times to AMD 11 billion
October 30: corporate bond turnover tops AMD 1 billion
Corporate bonds on the Armenia Stock Exchange (AMX) saw 97 trades in 56 issues worth about AMD 1.09 billion on October 30, the highest of the week. Government bonds saw 6 trades worth AMD 1.12 billion (about $3.12 million) and equities 18 trades worth AMD 9.09 million.
Corporate bond trades in drams totalled AMD 859.3 million (75 trades), in US dollars $606.0 thousand (21 trades, about AMD 218.4 million) and in euro €40.2 thousand (1 trade in Inecobank bonds (INECBT), about AMD 16.2 million). Evocabank bonds (PROMBD) led with AMD 252.9 million in 3 trades at a yield to maturity of 8.60–8.85%, followed by Electric Networks of Armenia bonds (HELCB1) with AMD 209.1 million in 3 trades at 9.70–10.00%. In the dollar segment, Viva Armenia bonds (KTELB1) led with $222.2 thousand (about AMD 80.1 million) in 4 trades at 7.30–7.64%. The most trades – 8 – were in VAK Metal bonds (VAKMB1), worth AMD 21.2 million. Dram trade yields ranged from 6.5% to 13.0%.
On the secondary government bond market, a bond of the Ministry of Finance of Armenia (GB1131A) led with AMD 593.6 million in 2 trades at 8.27%, followed by a Ministry of Finance bond (GN36284) at AMD 517.6 million and 7.35%. Bonds GN36294 and GB3150A also traded. No placement auctions were held on October 30.
In equities, Acba bank shares (ACBA) led: 3 trades, 410 shares at an average AMD 20,896, AMD 8.57 million, with a closing price of AMD 20,900. Unibank (UNIB, UNIBP2, UNIBP3), Tel-Cell (TLCL), Telecom Armenia (AMTL) and ASCE Group (ASGR) shares also traded. One repo trade was concluded in IKO Machinery bonds (IKOMB1), AMD 10.0 million for 31 days at 10.00%. There were no trades on the exchange’s FX market.
The exchange has not published the dram indices for October 27–30. The Corporate Bond Market Index in US dollars (CBMI_USD) rose 0.08% to 101.66, with a yield to maturity of 4.30%, and the Corporate 1–3 Year Bond Index in US dollars (C3YBI_USD) rose 0.06% to 100.96.
The total corporate bond market on AMX stands at AMD 1,057.5 billion, and market capitalisation at AMD 380.4 billion. 279 securities of 64 issuers are listed or admitted to trading. According to AMX, the US dollar rate was AMD 360.30, the euro AMD 401.70 and the Russian rouble AMD 4.4751.
| Index | Value | Change | Yield to maturity | Mod. duration |
|---|---|---|---|---|
|
Corporate Bond Market Index in Armenian drams (as of 26.10)
CBMI_AMD
|
104.51 | 0.00% | 1.61 | |
|
Corporate 1–3 Year Bond Index in Armenian drams (as of 26.10)
C3YBI_AMD
|
103.86 | 0.00% | 0.90 | |
|
Corporate Bond Market Index in US dollars
CBMI_USD
|
101.66 | +0.08% | 4.30% | 1.75 |
|
Corporate 1–3 Year Bond Index in US dollars
C3YBI_USD
|
100.96 | +0.06% | 2.27% | 1.03 |
On Friday, corporate bond turnover exceeded AMD 1 billion, mainly due to large trades in Evocabank and Electric Networks of Armenia bonds. Secondary trading in government bonds again topped AMD 1 billion. In the repo segment, the trade in IKO Machinery bonds was concluded at 10%, the highest rate of the week.
The week of October 26–30: turnover 3.8 times the previous week and 43% below two weeks earlier
Total turnover on AMX in the week of October 26–30 was about AMD 11.01 billion in 485 trades, 3.8 times the previous week (AMD 2.92 billion, 463 trades). Government bonds accounted for AMD 7.92 billion (22 trades, against AMD 184.1 million the week before), corporate bonds for about AMD 3.07 billion (420 trades, +12.8%) and equities for AMD 20.78 million (43 trades, +43.3%). There were 5 repo trades worth AMD 313.2 million; the previous week saw none. Compared with the week of October 12–16 (AMD 19.21 billion, 427 trades), turnover was 42.7% lower: government bond turnover was down 53.6%, while corporate bonds were up 44.4% and equities doubled.
On the secondary government bond market, 68% of turnover – AMD 5.41 billion – was in a bond of the Ministry of Finance of Armenia (GB1135A): 7 trades at yields of 8.60–8.70%. It was followed by Ministry of Finance bonds GN36284 (AMD 1.03 billion, 7.35–7.37%), GB1131A (AMD 593.6 million, 8.27%), GN60314 (AMD 431.7 million, 8.11%) and Eurobonds EUBDB5 ($1.18 million, about AMD 425.0 million, 6.40%).
On the primary market, the Ministry of Finance of Armenia placed AMD 75 billion of government bonds during the week against demand of AMD 199.6 billion (the previous week: AMD 5 billion). On October 26, AMD 5 billion of short-term zero-coupon bonds (AMGT52045276) were placed against demand of AMD 10.4 billion at a weighted average yield of 7.0247%; on October 29, three auctions placed AMD 70 billion against demand of AMD 189.2 billion: bonds maturing in 2035 (AMGB1129A357) at 8.8186%, in 2029 (AMGN36294293) at 7.8721% and in 2031 (AMGN60294318) at 8.1792%.
Corporate bonds saw 315 trades in drams worth AMD 2.14 billion, 102 trades in US dollars worth $2.49 million (about AMD 896.9 million) and 3 trades in euro worth €81.4 thousand (about AMD 32.7 million). The most active issue of the week was Evocabank bonds (PROMBD) at AMD 256.4 million, followed by Electric Networks of Armenia (HELCB1, AMD 225.2 million) and Ameriabank (AMRBBNM, AMD 187.2 million). The most trades – 22 – were in Hypernova bonds (HYPNB1). The busiest day was Friday (AMD 1.09 billion), the quietest Wednesday (AMD 335.6 million). Dram trade yields were mostly between 7.6% and 13.0%.
In equities, Acba bank shares (ACBA) led with AMD 19.04 million in 13 trades at average prices of AMD 20,600–20,896. On October 28, $800 thousand changed hands on the exchange’s FX market at AMD 360.25.
The total corporate bond market fell by AMD 1.4 billion over the week to AMD 1,057.5 billion, while capitalisation rose 1.4% to AMD 380.4 billion. The number of securities rose from 277 to 279 with the listing of Armswissbank bonds in US dollars (SWISBU) and euro (SWISBM1), which start trading on November 3.
| Indicator | 12–16.10 | 19–23.10 | 26–30.10 | vs previous week | vs two weeks earlier |
|---|---|---|---|---|---|
| Total turnover, AMD mn | 19,207.5 | 2,921.4 | 11,013.6 | +277.0% | −42.7% |
| Trades | 427 | 463 | 485 | +4.8% | +13.6% |
| Government bonds, AMD mn | 17,070.2 | 184.1 | 7,921.4 | +4,203% | −53.6% |
| Corporate bonds, AMD mn | 2,127.1 | 2,722.8 | 3,071.4 | +12.8% | +44.4% |
| Equities, AMD mn | 10.24 | 14.50 | 20.78 | +43.3% | +102.9% |
| Placed at auctions, AMD bn | 25 | 5 | 75 | ×15 | ×3 |
| Day | Corporate bonds, AMD mn* | Trades | Government bonds, AMD mn | Trades | Equities, AMD k | Trades |
|---|---|---|---|---|---|---|
| Mon, 26.10 | 568.8 | 93 | 3,694.0 | 6 | 8,451.4 | 10 |
| Tue, 27.10 | 567.3 | 81 | 0.05 | 1 | 1,364.6 | 4 |
| Wed, 28.10 | 335.6 | 77 | 2,137.7 | 2 | 119.0 | 3 |
| Thu, 29.10 | 505.9 | 72 | 965.2 | 7 | 1,754.5 | 8 |
| Fri, 30.10 | 1,093.9 | 97 | 1,124.5 | 6 | 9,086.2 | 18 |
| Week | 3,071.4 | 420 | 7,921.4 | 22 | 20,775.8 | 43 |
| Week of 19–23.10 | 2,722.8 | 399 | 184.1 | 14 | 14,499.2 | 50 |
| Week of 12–16.10 | 2,127.1 | 359 | 17,070.2 | 32 | 10,239.1 | 36 |
| Index | 23.10 | 30.10 | Change |
|---|---|---|---|
| Corporate 1–3 Year Bond Index in Armenian drams (C3YBI_AMD) | 103.8594 | 103.8625 (26.10) | 0.00% |
| Corporate Bond Market Index in Armenian drams (CBMI_AMD) | 104.5115 | 104.5101 (26.10) | 0.00% |
| Corporate 1–3 Year Bond Index in US dollars (C3YBI_USD) | 100.8962 | 100.9567 | +0.06% |
| Corporate Bond Market Index in US dollars (CBMI_USD) | 101.5775 | 101.6557 | +0.08% |
| Currency | 23.10 | 30.10 | Change |
|---|---|---|---|
| US dollar (USD) | 361.33 | 360.30 | −0.29% |
| euro (EUR) | 405.23 | 401.70 | −0.87% |
| Russian rouble (RUB) | 4.4536 | 4.4751 | +0.48% |
Weekly turnover rose 3.8 times to AMD 11 billion, mainly on the secondary government bond market (AMD 7.92 billion), led by bond GB1135A. Demand at the Ministry of Finance’s auctions was 2.7 times the AMD 75 billion offered, a sign of strong interest in dram government debt. Corporate bond turnover rose 12.8%, and repo trading resumed.
Source: Armenia Stock Exchange (AMX, amx.am), October 26–30, 2026. Dollar and euro trades converted at the AMX rate.
