Russian stocks may fall on negative dynamics on foreign floors

MOSCOW, Mar 28 (PRIME) -- Russian stocks may decrease at the opening on Wednesday amid negative dynamics on foreign stock floors and cheapening oil prices, analysts said.

“We expect a negative start of trading in Russia with a significant decrease of around 0.4–0.6% at the MOEX Russia Index, around 2,250 points,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said. The nearest support levels will be 2,240 and 2,230 points, and resistance levels will be 2,270 and 2,280 points, he said.

After the negative start of trading the MOEX Russia Index can continue reduction to the next support level located around 2,240 points, Manzhos said. “At the same time, the morning worsening of the foreign background does not so far look so critical to evoke panic sales in Russian shares,” the analyst said.

The U.S. stock index futures are trading with a decrease of up to 0.7%, Brent oil futures lost 0.8%, Japan’s Nikkei225 shrank 2.4%, and Hong Kong’s Hang Seng lost 1.9%.

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