The Russian stock market showed positive momentum on Wednesday, with ruble-denominated MOEX Index climbing 1.39% to close at 2,220.77 points . Meanwhile, the dollar-denominated RTS Index also saw gains,rising by 1.02% to finish at 915.67 points. This uptick comes amid fluctuating oil prices,which have been influenced by ongoing geopolitical tensions.
Despite overall market rise,the day was marked by mixed performance among individual stocks. Notably,shares of RussNeft surged by 7.2%, likely benefiting from the recent rally in oil prices. In contrast,Polyus shares plummeted by 25%, making it worst performer of the day. This decline followed an announcement that the company’s management plans to propose a suspension of dividend payments until 2030,a move that has raised concerns among investors .
The MOEX Index had been hovering around 2,200-point mark throughout the trading session, reflecting a lack of significant positive news aside from the oil market. Analysts from BCS World of Investments noted that attacks on Russian energy infrastructure continue, with reports indicating damage to a compressor station critical for gas supplies to Turkey.
Looking ahead, BCS World of Investments has projected the MOEX Index to fluctuate between 2,125 and 2,255 points in the coming days. They anticipate dollar exchange rate to range from 76 to 78 rubles,while the yuan is expected to be valued between 11.1 and 11.4 rubles. Tsifra Broker has also provided insights,indicating that the technical outlook for the MOEX Index remains steady, with support at around 2,100 points and resistance at 2,300 points.
In terms of currency forecasts,Tsifra Broker expects the dollar to trade between 78 and 81 rubles,the euro between 87 and 90 rubles,and yuan between 11.3 and 11.7 rubles. As the market navigates these fluctuations,investors will be closely monitoring both domestic developments and external geopolitical factors that could impact trading .
