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Russian stock market closes in the red — market reports

The ruble MOEX Russia Index ticked down by 0.02% to 2,853.53 points

MOSCOW, March 17. /TASS/. The Russian stock indices declined by the close of business on Tuesday, according to market data.

The ruble MOEX Russia Index ticked down by 0.02% to 2,853.53 points. The currency RTS index dropped by 1.05% to 1,097.45 points. The yuan added 18 kopecks to 12 rubles.

"The Russian stock market today has generally followed the course of the latest session with the buyers’ activity at the start of the day and more restrained ending of the primary trading session. The market continues keeping an eye on developments in the Middle East and oil prices, which do not rush to leave the levels above $100 [per barrel]. Statements of the parties exclude a transition to peace talks thus far. The ruble at the same time declines to new annual minimums, which further improves the demand for exporters’ stocks," Alexander Shepelev from BCS Investment World said.

"PhosAgro stocks turned out to be growth leaders on the falling stock market (+1.4%), most probably in view of rising prices of mineral fertilizers, associated with the blockade of the Strait of Hormuz and logistical disruptions," Natalia Milchakova from Freedom Finance Global. MMK stocks plunged the most by 1.7%, likely after the release of sluggish IFRS reporting statements for 2025, she added.

BCS Investment World expects the MOEX Russia Index to be on Wednesday in the range of 2,800-2,900 points. Freedom Finance Global believes the corridor for the index will be 2,850 - 2,950 points. Zifra Broker considers that the ruble weakening trend will continue.