Primary market
The primary market is that part of the capital markets that deals with the issuance of new securities. The primary markets are where new stock and bonds issues are sold  to investors. This is the market for new long term equity capital. The primary market is the market where the securities are sold for the first time. Therefore it is also called the new issue market (NIM).

Secondary Market
The secondary market, also known as the aftermarket, is the financial market where previously issued securities and financial instruments such as stock, bonds, options, and futures are bought and sold.