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Russian indices decline as trading closes on Moscow Exchange

The MOEX Index falling 1.02% to 2,337.1 points and the RTS Index dropping 0.90% to 874.02 points

MOSCOW, September 15. /TASS/. The Russian stock market closed lower on Tuesday, with the benchmark MOEX Index falling 1.02% to 2,337.1 points and the dollar-denominated RTS Index dropping 0.90% to 874.02 points. The Chinese yuan edged up slightly to 12.57 rubles.

"The MOEX Index traded mostly in negative territory on Tuesday, as investors locked in partial profits following a news-driven rally," Andrey Smirnov, a market analyst at BCS World of Investments, said.

Positive Group shares emerged as the day's top gainers, jumping 3.3% on the back of an earlier announcement that the cybersecurity firm had acquired a minority stake in developer Cyber OK, Natalia Milchakova, lead analyst at Freedom Global, noted.

Samolet Group led the decliners, plunging 12.1% without any corporate news. Analysts attributed the sell-off to cooling investor sentiment toward the real estate sector, compounded by the upcoming delisting of rival developer PIK Group from the Moscow Exchange.

Looking ahead to Wednesday, BCS World of Investments expects the US dollar to trade between 84-85 rubles and the yuan at 12.5-12.6 rubles, with the MOEX Index projected within a ,270-2,370 range. Freedom Global forecasts the MOEX Index to trade between 2,300-2,400 points, with exchange rates for the dollar, euro, and yuan at 83-85 rubles, 96-98 rubles, and 12.4-12.8 rubles, respectively.

Meanwhile, Tsifra Broker noted that high oil prices, elevated interest rates, and the upcoming tax period could drag currency rates toward the lower bounds of their current ranges: 12.4-12.8 rubles per yuan, 83-86 rubles per dollar, and 96-100 rubles per euro.