MOEX Russia Index Closes Down 0.55% Amid Sector Declines

Russian Market Ends Lower on Sector Pressure

The MOEX Russia Index closed down 0.55% on Friday, concluding the trading week on a negative note. The decline was largely driven by broad-based weakness across several key industries, reflecting cautious investor sentiment.

Key Movers and Market Breadth

Losses were most pronounced in the Mining, Oil & Gas, and Telecoms sectors. MMC NORILSK NICKEL PJSC (GMKN) was the session's worst performer, with its shares plummeting 6.12%. OK Rusal MKPAO (RUAL) followed, falling 5.62%. Market breadth was decidedly negative, with 196 stocks declining compared to only 49 advancers. On the positive side, Mobil’nye Telesistemy PJSC (MTSS) edged up 0.04%.

Economic Indicators and Outlook

In related markets, the Russian Volatility Index (RVI) rose 0.34%, indicating a slight increase in expected market turbulence. In currencies, the USD/RUB pair was up 0.07% to 76.00. Meanwhile, Brent oil for April delivery saw a modest gain of 0.46%.

Summary

The session highlighted vulnerability in Russia's key industrial sectors. Investors will continue to watch commodity prices and currency fluctuations as indicators for near-term market direction.

FAQ

Q: What caused the MOEX Russia Index to decline?
A: The index declined primarily due to significant losses in the Mining, Oil & Gas, and Telecoms sectors.

Q: Which company experienced the largest drop?
A: MMC NORILSK NICKEL PJSC (GMKN) was the worst performer, falling 6.12%.

Source: Investing.com