Russian Stock Market Plunges Amid Global Economic Worries

The Russian stock market took a downturn on January 20, mirroring global markets and oil prices, as concerns about the banking sector and U.S. real estate market weighed on investors. The MICEX stock index dropped 1.54% to 1461.23, while the RTS index fell 1.5% to 1556.97. Key benchmark stocks suffered losses ranging from 0.5% to 2.7%.

Key Takeaways:

• The Russian stock market followed global markets and oil prices down, with the MICEX stock index closing 1.54% lower at 1461.23 and the RTS index down 1.5% at 1556.97.
• Benchmark stocks saw losses, with Gazprom (RTS: GAZP) dropping 2%, VTB (RTS: VTBR) falling 1.5%, and Rosneft (RTS: ROSN) losing 1.8% of its value.
• Second-tier decliners included Pharmacy Chain 36.6 (RTS: APTK), which plummeted 6.1%, Magnitogorsk Iron & Steel Works (MMK), which dropped 5.2%, and IDGC Holding, which fell 3.8%.
• However, there were gains for PIK Group of Companies (RTS: PIKK), which rose 11%, RTM, which increased 5.4%, and Acron (RTS: AKRN), which rose 5%.
• The MICEX saw volume of 56.057 billion rubles, while the RTS Classic Market volume was $16.832 million and the RTS Standard turnover reached $562.85 million.

Statistics:

• MICEX stock index dropped 1.54% to 1461.23
• RTS index fell 1.5% to 1556.97
• Benchmark stocks lost value, with Gazprom (RTS: GAZP) dropping 2%, VTB (RTS: VTBR) falling 1.5%, and Rosneft (RTS: ROSN) losing 1.8% of its value
• Second-tier decliners: Pharmacy Chain 36.6 (RTS: APTK) -6.1%, Magnitogorsk Iron & Steel Works (MMK) -5.2%, VolgaTelecom (RTS: NNSI) -3.9%, and IDGC Holding -3.8%
• Gain-makers: PIK Group of Companies (RTS: PIKK) +11%, RTM +5.4%, Acron (RTS: AKRN) +5%, and Seventh Continent (RTS: SCON) +3.7%
• MICEX volume: 56.057 billion rubles
• RTS Classic Market volume: $16.832 million
• RTS Standard turnover: $562.85 million

Sources:

• Interfax, "Russian stock market follows int'l markets down (Part 2)", January 20.