MOSCOW, April 14. /TASS/. The MOEX index rose by 0.13% to 2,725.51 points at the close of trading on Tuesday, while the dollar-denominated RTS index gained 0.65% to 1,131.92 points. The yuan exchange rate fell by 13 kopecks to 11.04 rubles.
"Trading dynamics on the Russian market remained subdued today. Turnover was low. A lack of drivers, geopolitical uncertainty, tax discussions, a strong ruble and volatile commodity prices are not inspiring confidence among buyers. On the other hand, there are no grounds for active selling either. The MOEX Russia Index remains confined within the 2,700-2,750 point range," stock market expert at BCS World of Investments Andrey Smirnov said.
Stock market
Shares of Polyus (+3.7%) outperformed the market amid rising gold prices, Natalya Milchakova, a leading analyst at Freedom Finance Global, noted.
The biggest decliners, she said, were shares of Moscow Credit Bank (-5.7%), which fell in the absence of news, likely as part of a correction after a strong rally the previous day.
Outlook for April 15
BCS World of Investments forecasts the dollar at 75-77 rubles on Wednesday and the yuan at 11.0-11.3 rubles.
According to Freedom Finance Global, the MOEX index will fluctuate within the 2,700-2,800-point range on Wednesday. The forecast for the dollar, euro and yuan stands at 75-77 rubles, 88-90 rubles and 10.9-11.3 rubles, respectively.
Analysts at Tsifra Broker note that the trend toward ruble strengthening remains in place, supported in part by the approaching deadline for the unified tax payment due on April 28. Against this backdrop, the ruble is likely to continue strengthening toward 10.8 rubles per yuan, 74 rubles per US dollar and 88 rubles per euro.