MOEX Russia Index Closes Flat, Hits 3-Year Low Amid Broad Declines

Russia's benchmark stock index closed flat at the end of Saturday's trading session, though the lack of movement in the headline number masked underlying weakness that pushed the index to a new three-year low. Market breadth was decidedly negative, with more stocks falling than rising on the Moscow Exchange.

Market Internals Reveal Weakness

At the close in Moscow, the MOEX Russia Index was unchanged at 0.00%, according to data from Investing.com. Despite the flat finish, the session saw falling stocks outnumber advancing ones by a wide margin of 157 to 69, with 18 issues ending unchanged.

The Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, was also reported as unchanged at 46.01. The source noted this level as a new six-month high, indicating heightened investor uncertainty.

Key Stock Movers

Several major companies experienced significant declines, with some hitting historic lows. The session's worst performers included:

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• Polyus PJSC (PLZL): The gold producer was the biggest decliner, falling 4.92% to a five-year low.
• AFK Sistema PJSC (AFKS): The conglomerate dropped 1.84%, also hitting a five-year low.
• Bank VTB PJSC (VTBR): The banking giant's shares declined 0.96% to reach an all-time low.

On the positive side, the top performers were led by Moskovskiy Kreditnyi Bank (CBOM), which rose 2.35%. Oil company Tatneft (TATN) also saw gains, with its common and preferred shares adding 0.56% and 0.45%, respectively.

Commodities and Currencies

In the broader markets, key commodities traded lower. Crude oil for August delivery fell 0.93% to $71.41 a barrel, while the September Brent contract slipped 0.38% to $76.01 a barrel. August Gold Futures were down 0.65%.

The Russian ruble weakened against major currencies. The USD/RUB pair rose 1.10% to 77.00, and the EUR/RUB pair climbed 0.95% to 87.88.