Russian stock indices up as main trading session closes on Moscow Exchange

TASS

MOSCOW, September 23. /TASS/. The ruble-denominated MOEX Index closed the main trading session on Wednesday up 0.53% at 2,312.27 points, while the dollar-denominated RTS Index edged up 0.13% to 863.08 points. The yuan rose by 10 kopecks to 12.7 rubles.

"On Wednesday, the MOEX Index struggled to break above the key 2,300-point threshold with mixed results. On the positive side, we saw rising oil prices and geopolitical news. Meanwhile, in its summary of the key rate discussion, the Bank of Russia indicated that future inflation dynamics would largely depend on developments in the fuel market," Andrey Smirnov, a stock market expert at BCS World of Investments, noted.

"The top gainers on the Russian stock market today were Lukoil shares (+2.4%), likely tracking Western media reports about a foreign investor consortium's interest in the corporation's overseas assets," Natalia Milchakova, Lead Analyst at Freedom Global, said.

The biggest losers were Credit Bank of Moscow shares (-5.2%), likely triggered by the bank's announcement that it had trimmed its treasury stock.

BCS World of Investments forecasts the MOEX Index to range between 2,270 and 2,370 points on Thursday. In the coming days, the dollar could slide below 84 rubles, while the yuan could pull back toward 12.4 rubles.

Freedom Global expects the MOEX Index to trade within the 2,250-2,350 point range on Thursday. Its forecast for the dollar, euro, and yuan exchange rates stands at 84-86 rubles, 95-97 rubles, and 12.4-12.8 rubles, respectively.

Meanwhile, Tsifra Broker notes that exchange rates may fluctuate within the ranges of 12.4-12.8 rubles per yuan, 83-86 rubles per US dollar, and 96-100 rubles per euro, showing a tendency to tilt toward the upper bounds.

Fonte: TASS