Russian stocks can keep on falling amid persisting geopolitical tensions

MOSCOW, Mar 29 (PRIME) -- The Russian stock market can continue decreasing to below 2,400 as investors are not ready to acquire local stocks in light of permanent geopolitical risks, analysts said on Tuesday.

“We expect negative sentiments to persist on the Russian stock market today. Considering high uncertainty, investors prefer to reduce the number of local securities in their portfolios to lower the risks,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

Traders are not ready to begin purchasing Russian securities and are waiting for the geopolitical risks to decrease so the MOEX Russia Index may continue to fall to below 2,400, he added.

Zvarich said that the ruble is likely to keep on strengthening to under 90 rubles against the U.S. dollar.

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