Russian stock indices in the green as trading on Moscow Exchange closes on Wednesday
The dollar-to-ruble rate went up by 0.397% to 92.25 rubles, while the euro-to-ruble rate climbed 0.36% and amounted to 100.29 rubles
MOSCOW, March 20. /TASS/. The Russian stock indices were mostly in positive territory on Wednesday, recovering from a wave of profit-taking the day before.
By the end of the trading session on the Moscow Exchange, the MOEX index edged up by 0.07% to 3,267.1 points, the dollar-denominated RTS index rose by 0.21% to 1,113.87 points.
The yuan-to-ruble exchange rate decreased by 0.036% to 12.798 rubles, the dollar-to-ruble rate went up by 0.397% to 92.25 rubles, the euro-to-ruble rate climbed 0.36% and amounted to 100.29 rubles.
"The rise in Russian stock indices was restrained by the tendency of the ruble to strengthen and the price decline in oil, which, however, has remained at highs since the fall of 2023," said investment strategist at BCS World of Investments Alexander Bakhtin.
"Markets are waiting for the results of the Fed meeting. A reduction in interest rates is not expected, but investors will listen carefully to the rhetoric of the regulator’s leadership. Signals from the Fed at the moment can significantly influence the dynamics of risky assets, including raw materials, through the movements of the global dollar," the analyst believes.
On Wednesday, the growth leaders at the end of the session were ordinary and preferred shares of Rostelecom (+4.77% and +3.92%), receipts of Etalon (+3.43%), shares of Detsky Mir (+3.41 %), Yandex quoted prices (+3.25%), Ozon receipts (+3.01%), Cherkizovo quoted prices (+2.88%), Transneft preferred shares (+1.55%).
At the end of the session, the leaders of decline were shares of RussNeft (-3.57%), shares of TCS Holding (-3.49%), quoted prices of Gazprom Neft (-2.8%), ordinary and preferred shares of Mechel (-2.44% and -2.2%), Rosneft securities (-1.67%).
According to a forecast by BCS World of Investments, on March 21, the MOEX Index will vary in the range of 3,235-3,325 points, the dollar-to-ruble rate will be 91-93 rubles.
Freedom Finance Global expects that tomorrow the MOEX index will show fluctuations in the range of 3,200-3,300 points, the dollar-to-ruble rate can trade in the range of 91-93 rubles, the euro-to-ruble rate will be in the range of 99-101 rubles, the yuan-to-ruble rate will be in the range of 12.5-12.9 rubles.