MOSCOW, Nov 15 (PRIME) -- The Russian stock market declined on Wednesday following a new slide in oil prices, analysts said.
The MICEX lost 1.62% to 2,131.75 and the RTS fell 1.79% to 1,116.53.
“We can see an expected technical correction of the MICEX and the RTS indices from the recently achieved 9-month record highs. Local market participants are unable to disregard an evident disappointment on the crude market,” investment company Nord Capital said.
B&N Bank analyst Anton Pokatovich said that the Brent oil price fell to around $61 on investor concern about Energy Minister Alexander Novak’s statement that Russian oil producers have not reached a consolidated decision on OPEC+ deal prolongation.
One of Russia’s biggest retailers, Magnit, was the day’s biggest loser on the news that its major shareholder, has sold a 7.5% stake in the grocery chain at an 11% discount to the price of Tuesday’s closing. It slid by significant 11.21% to 6,170 rubles.
The country’s biggest lender Sberbank outperformed the market again due to strong financial results it released earlier this week. The stock added 2.06% to 225.95 rubles.
Below are the MICEX’ five most active stocks on Wednesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +2.06% | 225.95 | 16.229 |
| Magnit | -11.21% | 6170 | 10.686 |
| Gazprom | -1.29% | 131.21 | 3.079 |
| Norilsk Nickel | -3.12% | 10803 | 2.370 |
| MMK | -3.84% | 44.62 | 2.030 |
(59.6207 rubles – U.S. $1)
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