Russian Stocks Decline as Energy and Mining Sectors Weigh on MOEX Index

Russia's benchmark stock index fell during Thursday's trading session, weighed down by weakness in its core industrial and commodity-linked sectors. The MOEX Russia Index concluded the day down 1.26%, according to data from the Moscow Stock Exchange.

Sector-Wide Weakness

The decline was primarily driven by losses in the Power, Oil & Gas, and Mining industries. Market breadth was negative, with falling stocks outnumbering advancing ones by a margin of 152 to 92, while 9 stocks ended the session unchanged.

Among the session's worst performers were:

• Unipro PJSC (MCX:UPRO), which plunged 5.29%.
• Magnit PJSC (MCX:MGNT), declining 3.55%.
• Novolipetsk Steel (MCX:NLMK), which fell 3.50%.

Pockets of Strength and Volatility

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Despite the broader market downturn, a few companies posted gains. Fertilizer producer PhosAgro PJSC (MCX:PHOR) was a top performer, rising 2.62%. Other notable gainers included diamond miner AK ALROSA PJSC (MCX:ALRS), which added 0.92%, and oil firm TATNEFT (MCX:TATN), up 0.90%.

The Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, decreased significantly, falling 6.67% to 39.85.

Commodity and Currency Markets

In commodity markets, oil prices edged lower. Crude oil for September delivery fell 1.08% to $81.15 a barrel, while the October Brent contract dipped 0.19% to $87.04 a barrel. In contrast, Gold Futures for August delivery rose 1.58%.

In currency trading, the Russian ruble remained stable against the US dollar and the euro, with both the USD/RUB and EUR/RUB pairs reported as unchanged at the close, per Investing.com data.