Russian stocks may fall at opening following investor sentiment

MOSCOW, Dec 12 (PRIME) -- The Russian stock market may fall at opening on Tuesday dragged down by investor sentiment, analysts said.

“The MOEX Russia Index approached the support of 3,020. I believe that the support will be broken and we will see an even stronger fall in the coming days. Today there are almost only retail players on the market. And they are very timid, so they will bring the market closer to the red zone on emotions,” BitRiver’s financial analyst Vladislav Antonov said.

In general, the stock and currency markets look stable today, he said.

Exporters' obligations to sell part of foreign currency earnings, as well as expectations of the key rate hike on Friday to 16% annually continue supporting the ruble, the analyst also said. At the same time, the dependence of the ruble exchange rate on the key rate is currently insignificant, he added.

Despite stabilization of the energy market, the Russian stock market failed to recover on Monday, and sales in stocks intensified amid the strengthening of the ruble, financial marketplace Banki.ru’s senior analyst Bogdan Zvarich said.

According to Zvarich, this morning the market may try to consolidate at the achieved levels on the background of oil prices recovery, but the sales can activate.

“In the current circumstances, the MOEX Russia Index may continue to suffer losses, however, in our opinion, it is able to hold its positions above 3,000 during Tuesday's session,” he said.

End