MOEX Russia Index Hits 3-Month High on Sector Gains

Russian Market Closes on a High Note

The Russian stock market concluded Friday's trading session on a positive note, with the MOEX Russia Index advancing by 0.32% to establish a new three-month high. The gains were primarily driven by strong performance in key industrial sectors, signaling positive momentum.

Overall market sentiment was bullish, as reflected by the Moscow Stock Exchange data showing 153 stocks rising compared to 87 declining, with 13 remaining unchanged.

Key Sector Performance

The rally was led by significant gains in the Mining, Power, and Oil & Gas sectors. Among the top individual performers on the MOEX Russia Index was MMC Norilsk Nickel PJSC (GMKN), which saw its shares climb 2.15% to a 52-week high. Other notable gainers included Rostelekom PJSC (RTKM) with a 1.71% increase and Gazprom PJSC (GAZP), which rose by 1.48%.

Conversely, some stocks faced downward pressure. Federal Hydro Generating Company RusHydro PJSC (HYDR) declined by 1.24%, and AK ALROSA PJSC (ALRS) was down 0.59%.

Commodity and Currency Movements

In the commodities market, both Crude and Brent oil futures saw significant increases of over 3%. Gold futures also rose by 1.35%. In currency trading, the Russian Ruble strengthened against the US Dollar, with the USD/RUB pair falling by 0.65%.

Market Outlook

The positive close, supported by rising commodity prices and broad sectoral strength, suggests a constructive short-term outlook. However, market volatility also saw a slight increase, as the Russian Volatility Index (RVI) edged up by 0.83%.

FAQ

Q: Which sectors were the main drivers of the Russian stock market's growth?
A: The primary growth drivers were the Mining, Power, and Oil & Gas sectors.

Q: How did the MOEX Russia Index perform at the close?
A: The MOEX Russia Index rose by 0.32%, reaching a new 3-month high.

Source: Investing.com