Russian stocks may fall at opening on global backdrop, weak oil

MOSCOW, Oct 3 (PRIME) -- The Russian stock market is likely to decrease at opening on Tuesday on worsening global sentiments and falling oil prices, analysts said.

“At the start of trading today, we expect more active selling in Russian securities. The reason will be the deterioration of sentiment on the world stock exchanges and a pullback in oil prices, which will put pressure on the oil and gas sector,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The MOEX Russia Index will move to a corrective decline and will compensate part of last week's growth, he added.

According to the analyst, the sentiment on world markets on Tuesday morning can be characterized as moderately negative.

“We do not exclude that the trades will start with continuation of cautious profit taking that started yesterday afternoon,” Alor Broker analyst Alexei Antonov said.

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