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MOEX, RTS indices rise by 1.27-1.5% on Tuesday

It is noted that the current expansion of the Russian market is happening against the backdrop of the favorable dynamics of major stock indices throughout the world

MOSCOW, July 18. /TASS/. The MOEX index grew by 1.27% to 2,954.52 points, the RTS dollar index - by 1.5% to 1,024.98 points on Tuesday.

At the end of the day, the dollar exchange rate fell by 0.1% to 90.9 rubles, the euro - by 0.18% to 101.94 rubles, the yuan - by 0.05% to 12.63 rubles.

"The optimism of investors who continue to enter the market stems primarily from the fact that stock prices do not appear overbought to them, and there is a certain potential for continued capitalization growth," stock market expert at BCS World of Investments Alexander Shepelev said.

According to the expert, the current expansion of the Russian market is happening against the backdrop of the favorable dynamics of major stock indices throughout the world. "However, as we approach a new, beautiful milestone of 3,000 points, the market has every opportunity to slow down and correct the growth of some assets," he said.

Shares of TGC-1 (+15.35%), Polymetal (+5.18%), Russneft (+4.29%), Cherkizovo (+3.86%), Aeroflot (+3.83%), Unipro (+3.7%), and Alrosa (+3.56%) grew the most towards the end of the day. Polyus stock increased by 2.5%.

By the end of the session, VK shares (-1.4%), preferred shares of Bashneft (-0.85%), NLMK (-0.83%), Sovcomflot (-0.70%), and Sistema (-0.67%) saw the biggest losses.

BCS World of Investments forecasts the MOEX index at 2,925 - 2,950 points and the dollar at 90.5 - 90.8 rubles for July 19. According to Freedom Finance Global, the MOEX index is expected in the range of 2,900 - 3,000 points on Wednesday, the dollar - in the range of 89.5-92 rubles, the euro - within 100.5 - 102.5 rubles, and the yuan - within 12.3-12.7 rubles.