MOEX Russia Index Ends Flat at 3-Year Low Amid Broad Declines

Russia's benchmark stock index finished Saturday's trading session unchanged, a flat performance that masked underlying weakness as the index hit a new three-year low. The market saw a broad-based sell-off, with the number of falling stocks more than double that of rising ones.

Session in Review

According to data from Investing.com, the MOEX Russia Index closed with a 0.00% change. However, market breadth was decidedly negative, with 157 stocks declining compared to just 69 advancing, while 18 remained unchanged on the Moscow Stock Exchange.

Investor uncertainty appeared elevated, as the Russian Volatility Index (RVI), which measures implied volatility of MOEX options, held steady at 46.01, a six-month high. A higher RVI typically indicates expectations of greater market turbulence.

Key Stock Movers

Several prominent companies experienced significant losses, with some hitting historic lows.

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• Worst Performers: Gold miner Polyus (MCX:PLZL) was the session's biggest decliner, falling 4.92% to a five-year low. Conglomerate AFK Sistema (MCX:AFKS) dropped 1.84% to a five-year low, and VTB Bank (MCX:VTBR) shed 0.96% to reach an all-time low.
• Best Performers: Bucking the trend were Moskovskiy Kreditnyi Bank (MCX:CBOM), which rose 2.35%, and oil company Tatneft (MCX:TATN), which added 0.56%.

Currencies and Commodities

The Russian ruble weakened against the U.S. dollar and the euro. The USD/RUB pair rose 1.10% to 77.00, while the EUR/RUB gained 0.95% to 87.88.

In commodities, prices for key assets also fell. August Gold Futures were down 0.65% to $4,113.70 a troy ounce. Crude oil contracts for August delivery declined by 0.93% to $71.41 per barrel, while the September Brent contract slipped 0.38% to $76.01 per barrel.