Russian stock market edge down on expectations of Fed’s decision

MOSCOW, Nov 2 (PRIME) -- The Russian stock market closed with a slight decline on Wednesday as the market’s players decided not to take risks on the expectations of decisions of the U.S.’s Federal Reserve System (Fed), analysts said.

The MOEX Russia Index fell 0.02% to 2,173.84 and the RTS decreased 0.85% to 1,108.69.

“In anticipation of the Fed's rate decision at the end of today's meeting, both bulls and bears decided not to take any risks,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

A positive factor for the market was Russia's return to the grain deal, which President Vladimir Putin confirmed, she also said.

Veles Capital analyst Yelena Kozhukhova said that “the market was under restrained downward pressure, failing to find new reasons to go up.”

According to Vladimir Lyashchuk, senior analyst at Promsvyazbank, the Russian stock market consolidated today in the absence of obvious factors for formation of directed dynamics. On the one hand, high risks did not allow the market to continue moving up, on the other hand, high dividend yields supported stocks.

PhosAgro shares were the leaders of growth on the back of the news about the resumption of Russia's participation in the agreement on transport corridors for the export of agricultural products by sea, Milchakova said.

She also said that the outsiders were Transneft preferred shares, which were correcting after a strong growth, VK depositary receipts and HeadHunter shares, which were falling without news.

Below are the MOEX Russia Index’ five most active stocks on Wednesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	-0.02	4699	4.155
Sberbank	+0.07	127.14	3.426
Gazprom	+0.22	170.29	2.476
PhosAgro	+4.29	6584	2.024
Rosneft	+1.52	337.4	1.335

(61.4275 rubles – U.S. $1)

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