MOEX Russia Index Slips 0.93% on Weakness in Energy and Mining Sectors

Russia's benchmark MOEX index closed down 0.93% on Tuesday, as broad-based selling pressure in key industrial sectors dragged the market lower at the close in Moscow.

Sector-Driven Decline

The downturn was primarily led by weakness in the country's core industries. According to closing data, the Oil & Gas, Power, and Mining sectors were the main drivers of the negative performance.

Market breadth reflected the bearish sentiment, with falling stocks on the Moscow Stock Exchange outnumbering advancing ones by a margin of 150 to 99, while 4 ended unchanged.

Laggards and Leaders

Several major companies saw significant declines during the session. The day's worst-performing stocks on the index included:

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• ROSSETI PJSC (FEES), which fell by 3.20%.
• Bank VTB PJSC (VTBR), which saw its shares decrease by 2.92%.
• Rostelekom PJSC (RTKM), ending the day down 2.55%.

In contrast, a few stocks bucked the trend. Top gainers included Surgutneftegas PJSC Pref (SNGS_p), which rose 2.84%, and steel producer Magnitogorskiy Metallurgicheskiy Kombinat (MAGN), which added 2.58%.

Broader Market Context

The move in equities occurred amid mixed signals from energy markets. While the September contract for WTI crude oil fell, the October Brent oil contract, a key benchmark for Russia's exports, rose 0.88% to trade at $82.54 a barrel.

Meanwhile, the Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, edged down 0.85%. In currency markets, the USD/RUB and EUR/RUB pairs were reported as unchanged at the close, trading at 78.66 and 89.56, respectively.