MOSCOW, June 6. /TASS/. The Russian stock market moved to the negative territory during the main trading session after growth and the MOEX Index’s rising above 2,900 points for the first time since May 14, 2025 amid the Central Bank’s decision to cut the key rate to 20% per annum.

As of 1:31 p.m. Moscow time (10:31 a.m. GMT) the MOEX Index was up by 1.82% at 2,908.5 points, while the RTS was up by half a percent at 1,142.96 points. By 1:30 p.m. Moscow time (10:30 a.m. GMT) the MOEX Index had extended gains slightly to 8.95 kopecks as it traded at 11.057 rubles.

As of 3:01 p.m. Moscow time (12:01 p.m. GMT) the MOEX Index was down by 0.48% at 2,842.78 points, while the RTS was down by 0.48% at 1,131.77 points. The yuan was up by 1.8 kopecks at 10.986 rubles.

As of 3:15 p.m. Moscow time (12:15 p.m. GMT) the MOEX Index was down by 1.24% at 2,821.16 points, while the RTS was down by 1.24% at 1,123.16 points. The yuan was up by 2.4 kopecks at 10.992 rubles.

The Bank of Russia has lowered the key interest rate by 100 basis points to 20% after maintaining it at 21% annually for an extended period. Meanwhile the regulator emphasized the need for a sustained period of tight monetary policy.