MOEX Russia Index Hits 3-Year Low, Closing Down 2.13% on Sector Weakness

Russia's benchmark stock index fell sharply on Friday to its lowest point in three years, driven by a broad-based sell-off in key industrial sectors. The MOEX Russia Index closed down 2.13%, according to data from the Moscow Stock Exchange.

Sector-Wide Declines

The negative performance was led by significant losses in the Mining, Oil & Gas, and Power sectors. Market breadth was decidedly negative, with falling stocks outnumbering advancing ones by a wide margin of 175 to 65, while 10 stocks ended the session unchanged.

This widespread pressure indicates broad investor concern rather than weakness isolated to a few specific companies. The Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, rose 1.05% to 46.01, a new six-month high that signals rising market uncertainty.

Key Movers

Several major companies experienced steep declines, with some hitting multi-year or all-time lows. The session's worst performers included:

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• Polyus PJSC (PLZL): The gold miner's shares plummeted 10.79% to reach a 5-year low.
• AK ALROSA PJSC (ALRS): The diamond producer's stock fell 3.23%, hitting an all-time low.
• RusHydro (HYDR): The hydropower company's shares declined 2.76% to a 5-year low.

A handful of companies bucked the trend, including Severstal PJSC (CHMF), which gained 1.00%, and PIK SHb PJSC (PIKK), which added 0.72%.

Currency and Commodity Markets

The Russian ruble also weakened against major currencies. The USD/RUB pair rose 1.52% to 77.31, while the EUR/RUB gained 0.96% to 87.87.

In commodities, prices for key Russian exports also fell. Crude oil for August delivery was down 0.79% to $71.51 a barrel, while the Brent oil contract for September fell 0.38%. Gold futures for August delivery also slipped 0.29%.