Russian stock indices in the red as trading on Moscow Exchange closes
The yuan rate rose 14 kopecks to 10.99 rubles
MOSCOW, January 26. /TASS/. The MOEX Index fell 0.33% to 2,768.15 points by the end of the Monday's main trading session, while the dollar-denominated RTS Index fell 0.44% to 1,147.25 points. The yuan rate rose 14 kopecks to 10.99 rubles.
"The MOEX Index opened today with a symbolic positive gain, but quickly entered a moderate correction, holding in the upper range of 2,700-2,800 points. Its upper limit was nearly conquered during Sunday trading, but negotiations in the UAE on the Ukrainian conflict failed to produce a breakthrough, and investors again adopted a wait-and-see approach," said Alexander Shepelev, stock market expert at BCS World of Investments.
According to Dmitry Lozovoy, analyst at Finam, the top gainers on the stock market were Seligdar (+7.27%), Rusal (+3.84%), Novabev Group (+2.66%), and Norilsk Nickel (+2.07%).
The top decliners, according to him, were Novatek (-2.07%), Lukoil (-2.45%), Magnit (-2.08%), and Sistema Holding (-1.95%).
The BCS World of Investments’ forecast for the MOEX Index for January 27 is 2,720-2,820 points. The short-term forecast for the dollar-to-ruble exchange rate is 75-78 rubles, and for the yuan-to-ruble exchange rate is 10.8-11.1 rubles.
According to Freedom Finance Global, the MOEX Index will fluctuate between 2,700 and 2,800 points on Tuesday. The forecast for the dollar, euro, and yuan exchange rates on Tuesday is 75-77 rubles, 89-91 rubles, and 10.8-11.3 rubles, respectively.