MOSCOW, July 15. /TASS/. Russia’s stock market closed in the red on Wednesday as the ruble-denominated MOEX Index lost 2.91% to 2,107.67 points, while the dollar-denominated RTS Index fell by 3.49% to 851.7 points. The yuan exchange rate against the ruble lost 3 kopecks to 11.44 rubles.

"The Russian stock market fell to 3.5-year lows again today. The announcement of sanctions by Washington against Russian banks and the energy sector triggered a wave of profit-taking. Concurrently, the EU stepped up efforts regarding its 21st package of anti-Russian measures. Oil prices turned lower during the day," said Andrey Smirnov, stock market analyst at BCS World of Investment.

BCS World of Investment projects the MOEX Index at 2,100-2,200 points, with a risk of hitting new lows in place, and the dollar and yuan exchange rates at 76-78 rubles and 11.3-11.6 rubles, respectively, on Thursday.

Freedom Global expects the MOEX Index at 2,100-2,150 points on July 16. The forecast for the dollar, euro, and yuan exchange rates is 76-78 rubles, 88-90 rubles, and 11.2-11.6 rubles, respectively.

According to Tsifra Broker, the stock market overall retains downward momentum, and in the absence of positive news the MOEX Index could slide to the 2,050-2,100 points range. Analysts estimate that under current conditions, the balance of risks points to a moderate weakening of the ruble toward the upper ends of the ranges of 11.2-11.6 rubles per yuan, 76-79 rubles per dollar, and 88-90 rubles per euro.