MOSCOW, October 7. /TASS/. The MOEX index rose by 0.76% to 2,668.6 points at the close of the main trading session on Tuesday, while the dollar-denominated RTS index gained 2.07%, reaching 1,026.02 points. The yuan exchange rate declined by 0.064 rubles to 11.4 rubles.

"The MOEX index attempted to extend its rebound on Tuesday, at one point surpassing 2,670 points. However, the recovery did not appear confident, as it is largely of a technical nature – the market is easing accumulated oversold conditions, while most of the fundamental factors remain negative. Geopolitical tensions have intensified, the normalization of monetary policy will take longer, and the ruble has strengthened once again," stock market expert at BCS World of Investments Alexander Shepelev said.

Stock Market

"The leaders of growth in the stock market were shares of SPB Exchange (+13.6%), most likely driven by reports of the launch of trading in futures on stock indices of friendly countries and on Bitcoin," senior analyst at Freedom Finance Global Natalia Milchakova said.

According to her, the leading decliners were Mosenergo shares (-2.3%), possibly due to the stock’s overvaluation and the company’s reduced information transparency.

Forecast for October 8

BCS World of Investments forecasts the ruble exchange rate on Tuesday at 81-84 per US dollar and 11.25-11.75 per Chinese yuan. The forecast for the MOEX index on October 8 is in the range of 2,600-2,700 points.

According to Freedom Finance Global, tomorrow the MOEX index is expected to fluctuate within the 2,600-2,700 range. The projected exchange rates for the dollar, euro, and yuan against the ruble are 80-82 rubles, 94-96 rubles, and 11.3-11.8 rubles, respectively.