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Russian stock market closes lower as major indices retreat

The yuan edged down by 9 kopecks to 10.98 rubles

MOSCOW, April 24. /TASS/. The ruble-denominated MOEX Index ended Friday's main session down 1.39% at 2,733 points, while the dollar-denominated RTS Index slumped 2.29% to 1,139.93 points. The yuan edged down by 9 kopecks to 10.98 rubles.

"The buying spree that pushed the MOEX Index toward 2,780 points a day earlier gave way to bearish momentum on Friday, which intensified following the Central Bank meeting. While the regulator lowered the key rate by 50 bps to 14.5% as expected, some market participants were clearly betting on a more aggressive cut. Furthermore, the Central Bank upwardly revised its average key rate forecasts to 14-14.5% for 2026 and 8-10% for 2027, signaling a potential pause in its monetary easing cycle," noted Andrey Smirnov, stock market expert at BCS World of Investments.

"Astra Group shares (+1.9%) gained on news of the launch of Astra Migration, a new product for business," said Natalia Milchakova, lead analyst at Freedom Finance Global.

According to her, Kamaz shares (-4.6%) led the decline, likely caught in the broader market sell-off as investors dump riskier assets amid growing uncertainty.

BCS World of Investments projects the MOEX Index to trade between 2,750 and 2,800 points on Monday, with the dollar at 76 rubles and the yuan at 11.1 rubles.

Freedom Finance Global expects the MOEX Index to fluctuate within the 2,700-2,800 range on Monday. Their currency forecasts for Monday stand at 74-76 rubles for the dollar, 87-89 rubles for the euro, and 10.9-11.4 rubles for the yuan.