MOSCOW, March 10. /TASS/. The MOEX Index fell 1.21% to 2,853.86 points by the end of the main trading session on the Moscow Exchange, while the dollar-denominated RTS Index fell 0.69% to 1,141.77 points. The yuan rate rose 21.9 kopecks to 11.489 rubles.
"The MOEX Index trended lower on Tuesday, sliding from recent annual peaks. Crude prices dipped after a strong surge near $120. While the US President’s comments on the 'almost over Iran war cooled market nerves, high uncertainty persists," noted Alexander Shepelev, a stock market expert at BCS World of Investments. According to the expert, the ruble has begun to lose ground again after a brief period of strengthening.
According to Natalia Milchakova, a leading analyst at Freedom Finance, by the evening of Tuesday, March 10, the Russian stock market closed lower amid conflicting geopolitics and falling oil prices.
"Pharmsintez shares (+3.3%) were the top gainers in a falling stock market, likely due to the fact that the company's shareholders did not support management's decision to issue additional shares at the repeat annual general meeting," Milchakova noted.
Bashneft shares (-3.4%) were the top losers, possibly due to discussions in the European Union about including some of the group's refineries on sanctions lists, she added.
Freedom Finance Global expects the MOEX Index to fluctuate between 2,850 and 2,950 points on Wednesday. The forecast for the dollar, euro, and yuan exchange rates is 78-80 rubles, 91-93 rubles, and 11.3-11.7 rubles, respectively.