Russian stocks continue sideward movement on thin trade

MOSCOW, Nov 28 (PRIME) – The Russian stocks remained almost flat for a second day in a row on Thursday in thin trade as the U.S. bourses were closed for the Thanksgiving day, while local players decided not to price in the negativity of the external background, analysts said.

The MOEX Russia Index fell 0.05% to 2,927.57 and the RTS decreased 0.13% to 1,439.18.

“The MOEX Russia Index and the RTS Index changed insignificantly at the end of the trading session, slightly correcting closer to the local support levels of 2,920 and 1,430. The market continued its sideways movement to end the overbought state that emerged at the beginning of November…The mood at the global stock bourses was moderately negative on Thursday,” Yelena Kozhukhova, analyst at Veles Capital, said.

Dmitry Babin, stock market expert at BCS Broker, said that the mood of international investors was negative as U.S. President Donald Trump signed a bill supporting Hong Kong protesters, disappointing China and threatening signing of the first stage of the U.S.–China trade deal.

“But reaction of global bourses to the negative impact was moderate, and an upward correction started in the second half of the day…After a short-lived fall, the Russian indices climbed back following the dynamics of the international stock markets,” Babin said.

Bogdan Zvarich, senior analyst at Promsvyazbank, said that investor activity was low because of the Thanksgiving holidays in the U.S..

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.04	254.00	7.532
Lukoil	+0.91	6120.00	4.422
Sberbank	+0.42	235.20	4.419
Norilsk Nickel	-0.23	17172.00	2.589
Surgutneftegas	-1.94	43.645	2.306

(63.9722 rubles – U.S. $1)

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