Russian stocks edge up on positive external, internal factors
MOSCOW, Jan 31 (PRIME) -- The Russian stock market started the day uncertainly on Tuesday, but managed to rise in the second half of the trading session due to both internal and external factors, analysts said.
The MOEX Russia Index grew 0.96% to 2,225.6 and the RTS increased 1.40% to 1,001.23.
“The Russian stock market looked weak at the beginning of the session, but finished the day in the positive territory thanks to the support of both internal and external factors,” Veles Broker analyst Yelena Kozhukhova said.
Freedom Finance Global’s Senior Analyst Natalya Milchakova said that local stocks were supported by a positive outlook of the International Monetary Fund on both the global and Russian economy. Russia’s gross domestic product (GDP) is expected to rise by 0.3% instead of a fall forecasted earlier.
Milchakova also said that small cap companies were among the best gainers on Tuesday. Confectionary company Krasny Oktyabr, part of United Confectioners Holding, added more than 30%.
Kozhukhova said that the shares of Sovcomflot hit the highest since April 2022 adding 5.59% on publication of a sound IFRS financial report for January–September.
The shares of IT giant Yandex grew 4.76% to the highest since November 2022 without any evident fundamental reasons, she added.
Below are the MOEX Russia Index’s five most active stocks on Tuesday:
Company | Change, % | Last price, rbl | Trading volume, bln rbl |
---|---|---|---|
Sberbank | +2.36 | 157 | 9.738 |
Polyus | +1.26 | 9369.5 | 4.549 |
Human Stem Cells Institute (HSCI) | +5.92 | 97 | 2.581 |
Yandex | +4.76 | 2026 | 2.170 |
Gazprom | +0.1 | 158.57 | 2.064 |
(69.5927 rubles – U.S. $1)
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