Russian Stocks Rise Amid Decline in Oil Prices, Moderate Gains

Strategic Insights -

Russian stocks posted gains, mirroring international exchange trends, despite a decrease in oil prices tempering the upswing. The MICEX stock index increased 1% to 1618.62 points, while the RTS soared 2.5% to 880.28. Notably, Rostelecom led the rally, with a 9.2% surge following Deutsche Bank's upgraded recommendation.

Key Takeaways:

  • The MICEX stock index gained 1% to 1618.62 points, while the RTS rose 2.5% to 880.28.
  • Rostelecom led the rally, rising 9.2% after Deutsche Bank upgraded its recommendation from "hold" to "buy."
  • Blue chip advancers included VTB (+2.1%), Gazprom (+1.9%), Lukoil (+1.1%), and Sberbank of Russia (+0.9%).
  • Notable decliners were Novatek (-1.2%), Norilsk Nickel (-0.9%), and Transneft (-1.4%).
  • LSR Group (+4.8%), Russian Grids (+4.7%), and Moscow Exchange (+4.6%) led the advancers in the second tier.
  • Combined trading volume on the main Moscow Exchange market was 28.491 billion rubles, with 7.961 billion rubles in Sberbank ordinary shares traded.

Statistics:

  • 1% increase in the MICEX stock index to 1618.62 points
  • 2.5% rise in the RTS to 880.28
  • 9.2% surge in Rostelecom's stock price
  • 2.1% gain in VTB's stock price
  • 1.9% increase in Gazprom's stock price
  • 55.5 billion rubles in trading volume on Sberbank ordinary shares
  • 28.491 billion rubles in combined trading volume on the main Moscow Exchange market

Sources:

  • Interfax - March 24
  • Deutsche Bank - unspecified date