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MOEX Russia Index Falls to 3-Year Low Amid Mixed Trading
The MOEX Russia Index closed lower, hitting a new three-year low in a session characterized by mixed performance across different sectors, according to data from the Moscow Exchange.
Session in Review
Despite the benchmark's decline, market breadth was positive, with 120 stocks rising compared to 110 declining and 17 ending unchanged. This divergence suggests that losses were concentrated in heavily weighted index components, which overshadowed gains in a larger number of smaller companies.
Investor uncertainty appeared to be on the rise, as reflected by the Russian Volatility Index (RVI). The RVI, which measures the implied volatility of MOEX options, reached a new six-month high at 46.01.
Key Stock Movers
AdLeading the decliners was gold producer Polyus PJSC (PLZL), which saw its shares fall by 3.07%. Other notable laggards included conglomerate AFK Sistema PJSC (AFKS), down 0.60%, and real estate developer PIK SHb PJSC (PIKK), which lost 0.33%.
On the upside, the financial and energy sectors provided some support. Moskovskiy Kreditnyi Bank (CBOM) was a top performer, gaining 2.62%. Oil giants also posted gains, with Rosneft (ROSN) rising 2.50% and preferred shares of TATNEFT (TATN_p) adding 2.11%.
Currency and Commodities
The Russian ruble weakened against major currencies. The USD/RUB pair rose by 1.10% to 77.00, while the EUR/RUB pair climbed 0.95% to 87.88, indicating pressure on the domestic currency.