Both the markets are related to purchase and sale of securities(shares)
when a company is issuing shares for the first time then it is called as "primary market"
when a company is issuing not for the first time then it is called as "secondary market"
Primary market refers to the market where securities are issued by a company for the first time to the public
Secondary market refers to the market where previously issued securities are traded or exchanged.
Primary market is a Financial market are sometimes
classified as primary (direct).The primary markets deal in
the new financial claims,or new securities and
therefore,they are also known as the new issue market.
Secondary market is (indirect).The secondary market deal in
securities already issued or existing or outstanding.
primary market is also known as capital market it is
depending on long term securities
secondary market is also known as money market it is
depending on short term securities,these securities having
less than one year period