Russian stocks close in the red on Tuesday

Lead

Russia's stock market closed in the red on Tuesday, with the ruble-denominated MOEX Index losing 1.16% to 2,191.18 points, while the dollar-denominated RTS Index fell by 2.02% to 877.11 points, as reported by TASS. The yuan exchange rate against the ruble added 12 kopecks to 11.67 rubles.

Coverage Comparison

TASS's report on Tuesday's session noted that the MOEX Index attempted to hold above the 2,200-point mark but was weighed down by a broad-based decline in commodity prices, including oil. Andrey Smirnov, stock market analyst at BCS World of Investment, said the weakening ruble, lingering geopolitical hopes, and the positive impact of the Central Bank's key rate decision on Friday helped curb the downward correction in equities.

The Tuesday decline contrasts with the previous Wednesday, when the market closed in the green. On that Wednesday, the MOEX Index gained 2.16% to 2,238.52 points, and the RTS Index added 1.31% to 888.62 points, according to TASS. That upside was attributed to rising oil prices and a weakening ruble, with Smirnov noting that "buyers showed persistence" and that "geopolitical hopes remain intact."

However, the positive momentum was short-lived. On Friday, the market closed in the red, with the MOEX Index losing 3.16% to 1,958.43 points and the RTS Index falling by 3.26% to 786.94 points, as reported by TASS. Smirnov described the market as "hitting new lows," with the "battle now playing out around the 2,000-point mark," and noted that "intensifying negative factors and a near-total absence of positive ones currently offer no prospect of a significant trend reversal."

On another Thursday, TASS reported an even sharper decline: the MOEX Index lost 4.24% to 2,022.27 points, and the RTS Index fell by 4.68% to 813.43 points. Smirnov attributed the drop to "geopolitical factors, with risk levels staying high," adding that "discussions regarding new Western sanctions are ongoing."

Earlier, on a separate Thursday, the market also closed lower, with the MOEX Index losing 1.53% to 2,186.75 points and the RTS Index falling by 0.92% to 907.25 points, according to TASS. Smirnov noted that "negative sentiment continues to prevail, though selling activity has eased somewhat."

Key Claims

• On Tuesday, the MOEX Index lost 1.16% to 2,191.18 points, the RTS Index fell by 2.02% to 877.11 points, and the yuan rate against the ruble added 12 kopecks to 11.67 rubles, as reported by TASS.
• Analysts at BCS World of Investment and Freedom Global provided projections for the MOEX Index. Freedom Global expected the index to trade within the 2,150-2,250 point range on Thursday, with dollar, euro, and yuan exchange rate forecasts of 77-79 rubles, 90-92 rubles, and 11.4-11.9 rubles, respectively.
• On the previous Wednesday, the MOEX Index gained 2.16% to 2,238.52 points, the RTS Index added 1.31% to 888.62 points, and the yuan rate rose by 12 kopecks to 11.79 rubles, according to TASS. BCS World of Investment analyst Andrey Smirnov attributed the gains to rising oil prices and a weakening ruble.
• On Friday, the MOEX Index lost 3.16% to 1,958.43 points, the RTS Index fell by 3.26% to 786.94 points, and the yuan rate lost 1 kopeck to 11.57 rubles, as reported by TASS. BCS World of Investment forecast the MOEX Index to range between 1,950 and 2,100 points for the beginning of the following week.
• On a Thursday, the MOEX Index lost 4.24% to 2,022.27 points, the RTS Index fell by 4.68% to 813.43 points, and the yuan rate added 14 kopecks to 11.58 rubles, according to TASS. BCS World of Investment projected the MOEX Index at 2,000-2,150 points for the next day.
• On another Thursday, the MOEX Index lost 1.53% to 2,186.75 points, the RTS Index fell by 0.92% to 907.25 points, and the yuan rate added 4 kopecks to 11.25 rubles, as reported by TASS. BCS World of Investment projected the MOEX Index at 2,125-2,225 points for the following day.