Russian shares ended Wednesday's Moscow session with modest gains as advances in the Mining, Power and Oil & Gas sectors pushed the benchmark higher. At the close, the MOEX Russia Index was up 0.35%.
The top performers on the MOEX Russia Index were AFK Sistema PJSC (MCX:AFKS), which climbed 3.88% or 0.46 points to finish at 12.41. Steelmaker Severstal PJSC (MCX:CHMF) added 2.96% or 24.00 points to close at 836.00, while Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) rose 2.76% or 0.18 points to end the day at 6.65.
On the downside, NOVATEK PJSC (MCX:NVTK) was the session's weakest large-cap, falling 1.06% or 12.90 points to close at 1,203.60. Moskovskaya Birzha PJSC (MCX:MOEX) dipped 0.52% or 0.91 points to 174.14, and Rosneft PJSC (MCX:ROSN) slipped 0.51% or 2.25 points to finish at 436.05.
Market breadth on the Moscow Stock Exchange favoured rising names, with 156 stocks advancing versus 80 decliners, and 14 shares unchanged at the close.
The Russian Volatility Index - RVI, which reflects implied volatility for MOEX Russia Index options, declined 1.64% to 21.58.
Commodities displayed mixed moves during the session. Gold futures for June delivery rose 0.82% or 38.80 to reach $4,758.40 a troy ounce. In energy markets, June crude oil increased 3.57% or 3.20 to $92.87 a barrel, while the June Brent oil contract slipped 0.11% or 0.11 to trade at $101.67 a barrel.
In currency trading, USD/RUB was unchanged at 75.15 and EUR/RUB remained flat at 87.91. The US Dollar Index Futures was up 0.21% at 98.43.
Key points
- MOEX Russia Index closed up 0.35%, supported by gains in Mining, Power and Oil & Gas sectors.
- Top individual performers included AFK Sistema PJSC (+3.88%), Severstal PJSC (+2.96%) and Moskovskiy Kreditnyi Bank PAO (+2.76%).
- Notable decliners were NOVATEK PJSC (-1.06%), Moskovskaya Birzha PJSC (-0.52%) and Rosneft PJSC (-0.51%); market breadth favoured advancers 156 to 80.
Risks and uncertainties
- Single-stock weakness among major oil and exchange stakeholders, such as NOVATEK PJSC and Moskovskaya Birzha PJSC, highlights downside risk within the energy and exchange sectors.
- Volatility, while reduced as shown by a 1.64% decline in the RVI to 21.58, remains an uncertainty for option pricing and short-term trading strategies.
Overall, the session closed with a modestly positive tone, with select sectors and names outperforming despite some laggards among large-caps. Movements in commodities and currency pairs showed divergence, with crude oil futures rising while Brent edged lower and gold gained, and forex pairs remaining unchanged at the close.