MOSCOW, October 26. /TASS/. The Russian stock indices started to decline on Wednesday.
By the end of trading, the MOEX index decreased by 0.47% to 2,120.58 points, the RTS index dropped by 0.22% to 1,088.59 points.
At the end of the day, the dollar-to-ruble rate fell by 0.29% to 61.19 rubles, the euro rate edged down by 0.05% to 61.53 rubles.
"A pause in the upward trend could be caused by the desire of some investors to take profits after four sessions of growth in a row. Purchases were also held back by a strong ruble and geopolitical signals. Russian President Vladimir Putin said during a meeting of the Security Council that the potential for conflict in the world remains high," said Alexander Bakhtin, investment strategist BCS World of Investments.
However, the effect of the reinvestment of dividends from Gazprom and other companies may continue to support the domestic market in the short term, the expert believes.
"The key blue chips receive the main funding, part of the funds is returned by investors to the securities of Gazprom," he noted.
The price of Brent oil on Wednesday rose by 2.4% to $93.92 per barrel after the release of data on the fall in US gasoline inventories. Gold price rose by 0.92% to $1,673.3 per troy ounce.
On Wednesday, the shares of the following Russian companies were leaders in terms of growth: HSCI biotechnology company (+7%), shares of steelmakers NLMK (+5.1%) and Severstal (+3.5%).
In terms of decline the leaders were the shares of the gold mining company Polyus (-3.5%), Etalon construction group (-3%), Norilsk Nickel (-2.7%).
According to BCS World of Investments, on October 27, the MOEX index will be formed within the range of 2,025-2,155 points, the forecast range for the dollar-ruble pair is 60-63 rubles. According to Freedom Finance Global forecasts, the MOEX index will remain in the range of 2,100-2,200 points.
The dollar and euro rates against the ruble may still remain in the range of 61-63 rubles.