MOSCOW, Mar 14 (PRIME) -- The Russian stock market rose on Tuesday on stabilization of news background and reduction of panic after the bankruptcy of Silicon Valley Bank, analysts said.
The MOEX Russia Index rose 0.92% to 2,290.32 and the RTS increased 0.41% to 957.88.
“The growth of Russian markets is due to stabilization of news background and reduction of panic after the bankruptcy of Silicon Valley Bank,” Director of the stock market department at managing company Pervaya Anton Kravchenko said.
He added that the U.S. administration and monetary authorities have so far succeeded in convincing markets that the situation is under control.
According to Freedom Finance Global’s Senior Analyst Natalya Milchakova, some investment banks, including Goldman Sachs, are predicting that the Federal Reserve System (Fed) will take a pause after raising the federal funds rate by 0.25 percentage points in late March, the news is encouraging for stock market participants.
Globaltrans depositary receipts were among the leaders amid increased investor interest in the Russian rail transport sector, the analyst said.
Shares of Buryatzolot were supported by the appreciating precious metal and Rostelecom's common shares were in demand after the news about the order from the Finance Ministry for 2.2 billion rubles, Milchakova added.
Below are the MOEX Russia Index’ five most active stocks on Tuesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +2.35 | 176.2 | 13.21 |
| Polyus | -1.38 | 9265.5 | 4.507 |
| Polymetal | +0.77 | 548.8 | 3.719 |
| Gazprom | +1.31 | 161.12 | 2.307 |
| Raspadskaya | -1.71 | 276.1 | 1.45 |
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