MOEX Russia Index Dips on Mining and Oil Sector Losses

Market Closes with Minor Losses

The MOEX Russia Index concluded Thursday's trading session with a slight decline, falling 0.09% by the close in Moscow. The dip reflects broader sectoral pressures despite some individual stock gains.

Sector Performance Overview

The downward pressure on the index was primarily driven by losses in the Mining, Telecoms, and Oil & Gas sectors. Overall market sentiment was negative, with 138 stocks falling compared to 107 advancing stocks on the Moscow Stock Exchange, while 8 remained unchanged.

Key Stock Movements

Among the session's top performers were Unipro PJSC (UPRO), which surged by 4.52%, and Polyus PJSC (PLZL), adding 1.86%. Conversely, NOVATEK PJSC (NVTK) was a significant loser, dropping 2.25%, followed by Federal Hydro Generating Company RusHydro PJSC (HYDR), which declined 1.56%.

Summary and Outlook

Despite the index's fall, the Russian Volatility Index (RVI) showed minimal change, decreasing by 0.04% to 25.21. In related markets, Gold futures saw an increase, while Crude oil prices fell. The Russian Ruble strengthened against both the US Dollar and the Euro, indicating complex cross-market dynamics.

FAQ

Q: Why did the MOEX Russia Index fall?
A: The index fell mainly due to losses in the Mining, Telecoms, and Oil & Gas sectors, which outweighed gains in other stocks.

Q: Which company was the best performer of the session?
A: Unipro PJSC (UPRO) was the session's best performer, with its stock rising 4.52%.

Source: Investing.com