Uzbekistan stock exchange turnover jumps 2.5-fold to around $70mn
The Republican Stock Exchange "Toshkent" in Uzbekistan experienced a significant surge in trading turnover, reaching UZS 823.1bn (approximately $70mn) between August 10 and 14, 2026. This figure represents a 2.5-fold increase from the preceding week, as detailed in a weekly market overview by Avesta Investment Group. The number of transactions also saw a 30% week-on-week rise, totaling 54,633.
Bonds dominated the trading activity during this period, making up 83% of the total exchange turnover, or roughly UZS 683bn (exceeding $57mn). The trading volume for bonds increased by 2.1 times compared to the previous week. Stocks accounted for the remaining 17%, with their turnover reaching around UZS 140bn (over $11.8mn), an impressive 8.8-fold increase week-on-week. Trading was distributed across the exchange's Main Board and Nego Board. The Main Board recorded a turnover of UZS 448.8bn (approximately $38mn) from 54,630 transactions, while three negotiated transactions on the Nego Board generated UZS 374.3bn (over $31.6mn) in turnover.
On the Main Board, stock turnover amounted to UZS 18.7bn (over $1.5mn) across 54,059 transactions, representing 4% of the board's total trading volume. UZNIF emerged as the leading stock by turnover, generating UZS 7.29bn (over $616,000), which constituted 39% of the Main Board's stock turnover. The company's shares saw 8,790 transactions, and its closing share price climbed to UZS 6.50, marking a 19.93% increase over the week.
O‘zbektelekom secured the second position with a turnover of UZS 3.9bn (around $330,000) from 5,595 transactions. Its shares closed at UZS 13,000, an 8.33% rise from UZS 12,000 a week prior. Hamkorbank followed with UZS 1.54bn (over $130,000) in Main Board turnover across 4,982 transactions, with its share price increasing by 3.68% to UZS 99. Collectively, UZNIF, O‘zbektelekom, and Hamkorbank contributed approximately 68% of the Main Board's stock turnover. Other actively traded stocks included O‘zsanoatqurilishbank, with a turnover of UZS 1.06bn (around $90,000), Kvarts at UZS 899mn (over $76,000), and O‘zRTXB at UZS 744.8mn (over $63,000). Their respective share prices increased by 0.1%, 0.05%, and 3.48%. Uzbekinvest recorded a turnover of UZS 181.2mn (over $15,000) and a weekly share-price increase of 15.79%.
Bond turnover on the Main Board reached UZS 430.1bn (over $36mn) from 571 transactions, making up 96% of the board's total trading volume. UZUM SARMOYA’s UZUMS3B2 bonds alone accounted for UZS 420.5bn (over $35mn), or 98% of Main Board bond turnover, despite being traded in only four transactions. These securities carry an annual coupon rate of 18% and had 35 months remaining until maturity.
Another bond issue from UZUM SARMOYA, UZUMS3B, generated UZS 8.2bn (over $693,000) in three transactions. These bonds feature a 19% annual coupon rate and had 32 months left until maturity. AGAT CREDIT’s ACMT2B5 bonds were next, with a turnover of UZS 944.3mn (around $80,000) across 160 transactions and an annual coupon rate of 25%. Bonds issued by Biznes Finans Mikromoliya Tashkiloti generated UZS 209.8mn (over $17,000) in turnover for its BFMT3V2 issue, which carried a 27% annual coupon and had one month remaining until maturity.
Trading on the Nego Board amounted to UZS 374.3bn (over $31.6mn) during the week, stemming from just three negotiated transactions. Hamkorbank ordinary shares contributed UZS 121.4bn (over $10.2mn) to the Nego Board's turnover. Bonds issued by the Uzbekistan Mortgage Refinancing Company generated an additional UZS 252.8bn (over $21.3mn).
The negotiated Hamkorbank transaction also positioned the bank as one of the primary contributors to the overall stock-market turnover for the week. Across the entire exchange, stocks collectively generated approximately UZS 140bn (over $11.8mn) in total turnover, in contrast to UZS 683bn (over $57.7mn) for bonds.
Avesta Investment Group’s AVEX Index closed at 4,641.7 points on August 14, marking a 5.26% increase over the week. The index has risen by 100.09% year-to-date and 141.99% compared to the same period last year. The AWACRI yield indicator remained at 19.95%, showing a 0.72% decrease year-to-date and a 2.19% decrease on an annual basis, according to the report's accompanying table.