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MOEX Russia Index Reaches 3-Month High on Broad Sector Gains
Russia's benchmark MOEX index closed 0.92% higher on Tuesday, reaching a new three-month high as gains across key industrial sectors lifted the market.
Market Drivers and Movers
The advance was broad-based, with the Oil & Gas, Power, and Manufacturing sectors leading the gains, according to market data. Overall market breadth was positive, with rising stocks outnumbering declining ones on the Moscow Stock Exchange by 142 to 102, while 10 remained unchanged.
Among the session's top individual performers were:
- VK Company Ltd (MCX:VKCO), which surged 6.01%.
- Aeroflot PJSC (MCX:AFLT), adding 4.22%.
- Moskovskaya Birzha PJSC (MCX:MOEX), which rose 3.50%.
AdOn the downside, steel and mining companies lagged. The worst performers included diamond miner AK ALROSA PJSC (MCX:ALRS), which fell 1.86%, and steel producers Novolipetsk Steel (MCX:NLMK) and Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN), declining 1.83% and 1.63% respectively.
Volatility and Commodities
Investor sentiment was accompanied by a rise in expected market turbulence. The Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, increased by 3.56% to 30.82. An increase in this index typically suggests that traders are anticipating larger price swings in the near future.
In commodity markets, Gold Futures for December delivery rose 0.86% to $4,073.10 a troy ounce. However, energy prices were mixed, with the December Crude oil contract falling 1.53% to $100.20 a barrel, while the January Brent oil contract edged down 0.08% to $109.70 a barrel. The Russian ruble was stable against major currencies, with the USD/RUB and EUR/RUB pairs showing no change.
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